Chargeurs Group’s H1 Revenue Declines by 11.5%: Key Insights
French textile giant, Chargeurs, catering to over 1,600 fashion brands, reports a Q1-H1 revenue of €352.8 million. This marks a noteworthy recovery in Q2 after a challenging Q1.
Chargeurs PCC
Of significance, the Luxury division demonstrated exceptional growth, with H1 revenue surging by 16.4%. This served to offset declines in the Advanced Materials division, which experienced a 23.1% dip. Notably, these divisions were introduced in a summer 2022 restructuring initiative.
During H1, Chargeurs achieved an operating income of €14.1 million, resulting in an operating margin of 4%, reflecting a 2.4% YoY decrease. EBITDA declined by 32.7%, settling at €24.9 million.
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Michaël Fribourg, CEO of Chargeurs, acknowledges 2023 as a transitional year marked by disruptions. He highlights Chargeurs’ diverse portfolio, including resilient sectors and growth-driven markets. This diversified approach enables the company to navigate economic fluctuations while continually enhancing its capabilities to create lasting value.
Chargeurs adopts a prudent and adaptable stance toward future forecasts. In fiscal year 2024, the company aims to surpass the €800 million revenue milestone, targeting an EBITDA margin ranging between 9% and 10%. Chargeurs also emphasizes its commitment to expanding in areas of «sustainable excellence.»
In 2022, despite inflationary pressures, the company achieved a revenue of €746.4 million, marking a 1.3% increase, its second-best performance in a decade. Gianluca Tanzi, Managing Director of the PCC Fashion Technologies division, shared insights on innovation in energy efficiency with FashionNetwork.com.