Poujoulat: outlook more uncertain, share price falls

(CercleFinance.com) - Poujoulat shares fell sharply on Tuesday on the Paris Bourse, as the manufacturer of chimney flues and industrial chimneys reported an uncertain outlook following a 12.
5% drop in sales for the past fiscal year.

The group said it had generated sales of 351
,9 million euros in its 2023/2024 financial year ending March, compared with 402 million euros in the previous year, a level described as exceptional.

While it believes there are some positive signs that markets may recover in the second half of 2024, Poujoulat stresses that the current context remains 'uncertain'.

As regards chimney flues, the new-build market already looks set to be very difficult in 2024, while the industrial chimney market should benefit from investment in heating networks and the decarbonization of industry.

As regards its wood energy business, the company stresses that demand for quality fuels continues to grow, year after year.

Against this backdrop, Poujoulat forecasts stable or even modest sales growth for its chimney flue and industrial chimney business, and 5% to 10% growth for its wood-energy business.

These timid forecasts pushed the share price down by more than 7% around 11:00 a.m., while the index of small and mid-cap companies rose by 0.1%.

Copyright (c) 2024 CercleFinance.com. All rights reserved.