2023 Financial Results and Outlook for Thermador Group

The Thermador Group revealed its financial results for the year 2023, noting a turnover up 4.9% with the exception of a decrease of 1.8% on a like-for-like basis. The company experienced varied performance across its various divisions, with notable declines in the tooling equipment, OEM component supply, swimming pool equipment, and technical plumbing sectors. Despite this, it indicates growth in the industrial, HVAC and water cycle markets.

The group also announced the acquisition of DPI in October 2022 and is beginning discussions for the acquisition of Compteur-energie.com, a specialist in remote reading systems. Regarding its financial results, operating profit increased by 1.6%, while net profit share decreased by 1.0%.

In terms of financial structure, Thermador Groupe holds a solid position with 35.2 million euros in liquidity and capital of 340 million after distribution of profits. The company is maintaining its 10-year objectives, despite the prospect of a drop in turnover in the first half of 2024 due to adaptation to the new MaPrimeRénov allocation and a difficult new home market.

The dividend is proposed at €2.08 per share, representing 32.8% of net profits per share. The next Annual General Meeting will be held on April 2, 2024 in Lyon.