Serge Ferrari Group (SEFER) Q3 2024 TU earnings summary

Executive summary

• Q3 2024 revenues reached €72.2 million, down 1.1% year-over-year at current scope and exchange rates, with signs of recovery in core European markets.

• Nine-month 2024 revenues totaled €233.8 million, a 5.9% decrease at current scope and exchange rates, but showing improvement from the first half's 7.8% decline.

• The Transform 2025 Plan is being operationally implemented, with initial positive impacts expected in Q4.

Financial highlights

• Q3 2024 revenues: €72.2 million, down 1.1% year-over-year at current scope and currency.

• Nine-month 2024 revenues: €233.8 million, down 5.9% at current scope and exchange rates.

• Price/volume mix impact in Q3: -0.6%; exchange rate effect: -0.7%; scope effect: +0.2%.

Outlook and guidance

• Q4 2024 is expected to continue the upturn seen in Q2 and Q3, with further operational optimization and benefits from the Transform 2025 plan.

• Management expresses confidence in a medium-term return to profitability as business activity improves.