First-quarter 2021 turnover grew 32.3%, buoyed by an upturn in business and the Group’s positioning
A good start to 2021, with robust growth in the first quarter
In line with the end of the year 2020, HERIGE Group enjoyed a very strong start to 2021, with first-quarter turnover up a robust 32.3% (31.4% like-for-like) to €175.6 million. The 2020 comparison base was distorted by a work stoppage followed by part-time working at the Group's three businesses, due to the Covid-19 pandemic. However, when compared with the same period in 2019, turnover was up 14.1% (12.3% on a like-for-like basis).
The Group's three businesses continued their strong rebound, thanks to its full range of products and innovative services.
- Turnover for Building Materials Trading rose 24.5% (25.2% like-for-like), propelled by general contracting and the very high business levels in the public works sector. Compared to first-quarter 2019, turnover was up 9.4% on a like-for-like basis.
- Concrete Industry reported growth of 38.5% (30.7% like-for-like). This performance was buoyed by strong sales in the ready mix concrete division and pre-fabricated concrete products, and the integration of new plants in the Sarthe Mayenne sector at current scope. Compared to first-quarter 2019, Concrete Industry turnover was up 12.8% like-for-like.
- Industrial Joinery continued its offensive, posting double-digit (43.8%) growth. The business recorded significant growth in all of its distribution channels focused on the renovation market, and its AM-X product continued to enjoy very positive momentum benefiting from the new production capacities of the Saint-Sauveur-des-Landes plant. On a like-for-like basis, turnover rose 23.2% on the same period in 2019.
Outlook and developments
Buoyed by the strong start to 2021 and its positioning in energy renovation, HERIGE intends to pursue its profitable development while keeping a watchful eye on developments in the health crisis.
Furthermore, the Group confirms its ambition to participate in the transformation of its sector by providing practical and sustainable solutions to construction stakeholders. For example, in March HERIGE Group entered into a technical partnership through its concrete subsidiary EDYCEM with Hoffmann Green Cement. The objective is to enable EDYCEM to develop a concrete formula with Hoffmann's low-carbon cement.
NEXT PUBLICATION: Q2 2021 turnover on July 27, 2021 (after the close of trading)
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