COGRA: Annual results 2023/2024

Cogra, a specialist in wood energy in France, announces its annual results for the 2023/2024 financial year, ending June 30, 2024. Faced with a market disrupted by the 2023 energy crisis and a less harsh winter, the company has been able to adapt its organization to preserve its margins.

Turnover stood at €39 million, down 24% compared to the previous year. This contraction reflects market imbalances and the increase in wood pellet prices. Pellet sales, representing 90% of turnover, fell by 23%, while stove and boiler sales fell by 32%.

Despite this situation, EBITDA reached €4.1 million, representing a margin of 10.5%, in line with its objective. Net income amounted to €0.6 million, for a margin of 1.6%. The financial structure remains solid, with inventories up 22% and a reduction in operating debts of 54%.

Looking ahead, Cogra is optimistic with a strong order book and modernized production capacity ready to support a recovery in growth.