8.8% growth over 9 months
Business growth driven by innovation and multi-segment positioning
HERIGE Group posted turnover of €183.0 million for the third quarter of 2023, up 5.4% (down 3.7% like-for-like) on the same period in 2022, despite the continuing downturn in the new construction market. This trend was driven by the price effect and the results of our external growth and innovation strategy.
- Industrial Joinery reported strong turnover growth of 38.1% (down 1.3% on a like-for-like basis), underpinned by the acquisitions made in 2022 and by opening products.
- With an unfavorable calendar impact (one day), Concrete Industry consolidated its position (up 1.5% on a like-for-like basis), benefiting from positive trends in ready-mix concrete and from partnerships signed following the rapid roll-out of the low-carbon Vitaliss® concrete range, which resulted from the Group’s R&D on building materials of the future.
- Building Materials Trading saw a limited slowdown (down 9.2%) in a new construction market in sharp decline, thanks to the performance initiatives implemented.
Against a backdrop of a sharp decline in the new housing segment (authorized units down 28.3% over 12 months1), HERIGE demonstrated its resilience, posting turnover of €638.1 million for the first nine months of 2023, up 8.8% (down 0.9% on a like-for-like basis).
Outlook and developments
In a market environment where the resilience of renovation/refurbishment contrasts with the downturn in new construction, HERIGE is benefiting from the pertinence of its strategic positioning across several sectors, focused on a range of sustainable and innovative solutions with a positive impact and supported by a favorable regulatory context: two-fold increase in the MaPrimeRénov’ renovation program and extension of the Prêt à Taux Zéro interest-free loan until 2027, with relaxed eligibility conditions.
Lastly, in the current macroeconomic environment, HERIGE can also rely on the fundamentals of its proven business model and rigorous management of its financial equilibrium.
1 Source: French Ministry of Ecological Transition and Territorial Cohesion – Statistical data and studies – Estimates to the end of September 2023.
NEXT PUBLICATION: Q4 2023 turnover on February 6, 2024 (after the close of trading)
All our financial communications are available on our website: www.groupe-herige.fr/en