Turnover up 23.6% for the first nine months of 2021
Continued dynamic business levels excluding the base effect
HERIGE Group posted a good level of activity in Q3 2021, dampened by a challenging basis for comparison versus third-quarter 2020, when turnover rose sharply thanks to a catch-up effect following the lockdown period during the Covid-19 health crisis. Compared with the same period in 2019 (pre-crisis), the Group’s turnover was up 10.4% (9.1% like-for-like).
The momentum of first-half 2021 was confirmed in the third quarter for the Group’s three businesses compared to 2019, albeit hampered by tension in the supply market in the Building Materials Trading and Joinery businesses.
- Turnover for Building Materials Trading was up 10.2% (11.2% like-for-like) on the same period in 2019, once again boosted by a strong rebound in the public works sector. Compared to third-quarter 2020, turnover was almost stable at -0.9% (down 0.6% like-for-like).
- Concrete Industry reported growth of 18.7% (7.2% like-for-like) versus 2019, once again benefiting from a sustained increase in volumes of ready-mix concrete and pre-fabricated concrete products, despite a slight slowdown during the summer. Compared to 2020, Concrete Industry turnover was down 8.0% like-for-like.
- Industrial Joinery, up 11.5% compared to 2019, continued to benefit from strong demand across all of its distribution channels and its AM-X product. On a like-for-like basis, turnover was up 2.0% on the same period in 2020.
For the first nine months of 2021, HERIGE Group’s consolidated turnover amounted to €533.6 million, up 23.7% like-for-like compared to the same period one year earlier and up 12.4% compared to the same period in 2019.
Outlook and developments
Thanks to a good business volume in third-quarter 2021, HERIGE remains confident in its ability to enjoy strong momentum across all its markets, especially in renovation, coupled with a solid operating performance. Nevertheless, the Group remains cautious in view of the unprecedented and persistent global supply crisis. HERIGE is still on the lookout for opportunities that could serve its profitable growth strategy.
NEXT PUBLICATION: 2021 Q4 turnover on February 8, 2022 (after the close of trading)
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