Novem Group S.A. Battles Tough Market Conditions: Q3 2023/24 Results Revealed

• Novem Group S.A. reported Q3 2023/24 figures reflecting challenging market conditions with a year-to-date (YTD) 2023/24 revenue of €485.8 million, a decrease of 7.7% compared to YTD 2022/23.
• The company's adjusted EBIT for the period was €54.6 million, a decrease of 9.8% from the previous year.
• Revenue Series of €123.1 million declined by 16.5% in Q3 2023/24, primarily due to extended customer plant holidays and weak call-offs.
• The company's Q3 revenue decreased by €28.2 million in all regions compared to last year, with the largest decline reported in Europe due to weak market demand.
• Free cash flow turned slightly negative at €-3.9 million for the reporting period, mainly due to increased working capital.
• As of 31 December 2023, total working capital of €149.2 million recorded 8.8% higher than last year, and gross financial debt of €307.4 million increased by €25.0 million compared to the third quarter of the previous year.

The next important date, Quarterly report, at Novem Group is on 15.02.2024.

The price of Novem Group at the time of the news was 7,1500EUR and was down -0,56 % compared with the previous day.

Novem Group

-0,51 %

-5,07 %

+1,22 %

-7,48 %

-32,21 %

-64,79 %

ISIN:LU2356314745WKN:A3CSWZ

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