COGRA: Half-Yearly Review 2024/25 Difficult but Optimistic

Cogra has revealed its 2024/25 half-year results marked by a significant drop in its turnover, which amounts to €18.7 million, a decrease of 30% compared to the previous year. This drop is mainly due to the drop in wood pellet prices, which had seen an abnormal increase in previous years. As a result, EBITDA is negative at -€326k, and net income reaches -€2.0 million.

During this half-year, Cogra faced a sharp price reduction in an overcapacity market, mainly due to massive imports. Pellet sales fell by 34%, while stove and boiler sales increased by 5%, highlighting the continued appeal of this environmentally friendly heating method. The company anticipates improvements for the second half, thanks to cost reductions and a more beneficial winter season.