Thermador Groupe (THEP) Trading Update summary

Financial performance

• 2024 turnover declined by 13.3% to €503.9 million, with a 13.5% drop at constant scope.

• Selling price changes contributed an estimated -2.6% effect on turnover.

• All quarters saw double-digit turnover declines, with Q1 down 17.2% and Q4 down 10.6%.

Business segment breakdown

• Thermador (central heating, solar, water accessories) turnover fell 31.8%.

• DPI (plastic piping) and PBtub (heating/cooling surfaces) dropped 21.3% and 22.6%, respectively.

• Sferaco (valves/meters) and Jetly (pumps/tanks) saw smaller declines of 4.2% and 6.7%.

• Axelair, Sectoriel, Distrilabo, and Syveco posted modest growth between 1.0% and 4.7%.

Mergers and acquisitions

• Alto Metering's turnover includes Compteur-energie.com, OTMetric, and MyMeterInfo from August 2024.

• Sodeco Valves consolidated Vena Contracta's business assets from August 10, 2024.