CIBOX Year 2023 Results: A Transition Towards New Opportunities

CIBOX, the French electric micro-mobility specialist, has published its annual results for 2023, marking a transformative year with a turnover of 4.8 million euros, down from 12.1 million euros in 2022. The drop is attributed to inflationary pressures and a difficult social context impacting supply and the postponement of customer orders.

Despite these challenges, the company implemented strict budgetary discipline to limit losses. The gross margin reached 1.02 million euros, or 21.5% of turnover. CIBOX continues its preparation for the start-up of its production site in Revin scheduled for the second half of 2024, a decision which should open up new commercial prospects. Net losses were 2.7 million euros.

Financially, the company shows a drop in cash flow to 1.3 million euros compared to 3.3 million euros at the end of 2022. CIBOX anticipates a commercial recovery, as evidenced by the turnover for the first quarter of 2024 which amounts to 1.3 million euros, an increase of 67% compared to the same period of the previous year.