Thermador Groupe : H1 results naturally down in a tough environment
>H1 2024 underlying operating profit down to € 34.1m (vs € 35.5m est.), underlying operating margin of 12.6% vs (13%e). - Thermador Groupe reported yesterday evening H1 2024 results close to our expectations. With € 271.5m in previously reported revenues, down 16.1% organically, the underlying operating profit dropped 27.8% to € 34.1m (vs. € 35.5m est), implying an underlying operating margin of 12.6% (vs. 13%e), down 200bp. Attributable net profit came in at € 25.3m ...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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