Serge Ferrari Group (SEFER) Q2 2024 TU earnings summary

Executive summary

• First-half 2024 revenues reached €161.9 million, down 7.8% year-over-year, with Q2 showing a smaller decline of 2.5% compared to Q1's 14.1% drop.

• Operational execution of the Transform 2025 plan continued, including logistics consolidation and cost structure adaptation.

Financial highlights

• Q2 2024 revenues were €88.4 million, down 2.5% year-over-year; H1 2024 revenues totaled €161.9 million, down 7.8%.

• Favorable price-mix effect (+9.1%) offset by volume decline (-11.8%) and minor exchange rate impact (-0.2%).

• Non-recurring expenses from restructuring expected to result in a net loss for H1 2024.

Outlook and guidance

• Transform 2025 plan implementation continues, with further operational optimization and site transfers.

• Upturn in business anticipated for H2 2024, supporting confidence in medium-term return to profitability.