Belysse Weak top line in 3Q but adjusted EBITDA is holding up
3Q revenue declined by 7.6%, mainly due to continued weak demand in Europe. Adjusted EBITDA was stable on an organic base and roughly in line with our forecasts, reflecting higher unitary margins. We have kept our FY adjusted EBITDA forecast unchanged whilst slightly lowering our FY25-26 forecasts. We continue to believe Belysse is doing what is necessary to structurally improve profitability whilst visibility on a market recovery is low. Valuation is attractive and prompts us to reiterate our Accumulate rating and € 1.6 target price.Balta Group NV is a Belgium-based company engaged in the home furnishings industry. The Company is a producer of textile floor coverings in Europe. Its products portfolio encompasses: woven and tufted area rugs (balta home), wall-to-wall carpets and residential carpet tiles (balta carpets and ITC), wall-to-wall contract carpet and commercial carpet tiles (arc edition, modulyss and Bentley), and needle felt and technical non-wovens (Captiqs). It has several production sites worldwide in the domestic market, Turkey and the United States. In addition, Balta Group NV delivers customer-focused approach to its business and is engaged in the solar panel projects in the Benelux region in order to supply renewable energy to fuel its production facilities.
We are a financial services provider for several types of professional clients, each with distinct needs.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.