Thermador Groupe : Another sharp decline in sales in Q2 and visibility on H2 still limited
>H1 2024 sales down 16% l-f-l to € 271.5m (vs € 281.5m est.) - Yesterday evening, Thermador Groupe published H1 sales below our forecasts. After the marked decline reported at the beginning of the year (Q1: -17.2% l-f-l at € 141.2m), sales were in line with this trend in Q2 with a 15% decline to € 130.3m (vs -8.4%e to € 140.3m est.). For the half-year period, sales were € 271.5m, a fully organic decline of 16.1%: volume effect of -13.6% and a price effect of -2.5%. §r...Thermador Groupe. Thermador Groupe SA is a France-based holding company engaged in the distribution of specialized plumbing equipment materials, such as taps, pumps and heating equipment. The Company operates through a number of subsidiaries, including Sferaco, which is engaged in the construction of industrial valves and fittings; Sectoriel, which manufactures motorization for valves; Jetly, which produces domestic pumps and accessories as well as lifting stations; Thermador, which distributes central heating and hot domestic water circuit components; Thermador International, which specializes in exporting the Company's products in Europe; PBtub, which is specialized in the distribution of synthetic material tubes for under-floor heating and distribution of domestic water; Isocel, which constructs boiler and parts; Dipra, which furnishes retail stores in do-it-yourself (DIY) products; Opaline, which is the Company's communications agency, Domac and FGINOX.
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