Strong business momentum continues in the second quarter of 2022
HERIGE enters into exclusive negotiations for the acquisition of MGT Menuiserie Bois
10.0% business growth in Q2 2022
HERIGE Group saw continued growth momentum and posted turnover of €219.2 million in the second quarter of 2022, up 10.0% on the same period in 2021 (up 7.7% like-for-like), despite a very challenging comparison base. Growth was driven by a positive price effect and, to a lesser extent, a favorable volume/mix effect.
- Turnover for Building Materials Trading was up 6.4% on the same period in 2021, driven by the activity in the structural works and public works sector. However, business in the quarter was impacted by a market downturn due to price increases.
- The Concrete Industry benefited from a favorable price effect and grew by 4.4% (down 1.7% on a like-for-like basis), including the Audoin et Fils Béton acquisition over two months.
- Industrial Joinery expanded by 22.2%, up 16.7% like-for-like. The business continued to see strong demand in renovation market distribution channels and for the AM-X product.
Overall, in first-half 2022, HERIGE posted turnover of €413.0 million, an increase of 10.2% (up 8.7% like-for-like). Faced with inflationary pressures, HERIGE remains cautious and is continuing to strengthen its operating performance initiatives.
HERIGE has entered into exclusive negotiations for the acquisition of MGT Menuiseries Bois
As part of its development strategy, ATLANTEM, the Joinery subsidiary of the HERIGE Group, announced that it has begun exclusive negotiations for the potential acquisition of MGT Menuiseries Bois in Brittany.
Specialized in the manufacturing of high-end doors and windows made entirely of wood for more than 40 years, MGT has a broad customer portfolio and a 13,600 sq.m integrated plant. Beyond the complementary offering and know-how that comes with this acquisition, the HERIGE Group will also be able to significantly increase its production capacities on a thriving wood market in the context of building decarbonization, the implementation of the RE 2020 and strong sales of its AM-X products.
The entire perimeter employs 45 people and generates full-year turnover of approximately €7 million.
The acquisition is expected to be finalized by the end of August 2022 at the latest, after the consultation with the employee representative bodies.
Benoît Hennaut, Chairman of the Executive Board of HERIGE Group, said: “This project enables the Group to strengthen its ambition to reduce its carbon footprint through the wood businesses, whose growth prospects will be driven by the RE 2020. It also reflects our ambition to pursue profitable growth while reducing the impact of our business on the environment.”
The Group will keep the market informed of the project’s progress.
NEXT PUBLICATION: H1 2022 results on 13 September 2022 (after the close of trading)
All our financial communications are available on our website: www.groupe-herige.fr/en