SergeFerrari: 3% drop in annual sales

(CercleFinance.com) - SergeFerrari Group, manufacturer of high-tech composite fabrics, has announced sales of ?327.
6 million for the year 2023, down 3.3% (-6.8% on a like-for-like basis).

In detail, the +4.7% scope of consolidation effect and the +3.7% price mix effect contributed to annual sales growth, more than offset by a -1.1% currency effect and a -10.6% volume effect.

Despite this, the Group is confident of achieving its revised target of an operating margin of 3% of sales for 2023, and is calling for an acceleration of its resource optimization policy.

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