Hunyvers: share price falls after unsurprising results

(CercleFinance.com) - Hunyvers, a specialist in the distribution of leisure vehicles, lost ground on the Paris Bourse on Monday, following the publication of half-year results that came as no surprise.


Over the six months to the end of February, sales for the group, which owns motorhome and boat dealerships, rose by 13.4% to 51.3 million euros, but sales on a like-for-like basis were down by 1.2%.

The shift in the mix in favor of new vehicles, which generate lower margins, also slowed gross margin growth, even though the latter reached a record figure of ten million euros (+6.7%).

Operating income showed a loss of 0.9 million euros, compared with a profit of one million euros in the first half of the 2022-2023 financial year, a development which the Group explains by the markedly increased seasonality of its yachting business.

In terms of outlook, Hunyvers expects a clear rebound in earnings in the second half of the year, with further dynamic growth in sales and a clear improvement in operating profitability.

The company also confirmed that it is targeting sales in excess of 170 million euros for the 2024-2025 financial year, with an operating margin of 6.5%.

Citing "unsurprising" results, Euroland's analysts maintained their Buy recommendation, while lowering their price target for the stock to 15.5 euros from 17.5 euros previously, to reflect the impact of lower comparables.

Following these announcements, Hunyvers shares lost 0.8% on Monday morning on the Paris Bourse.

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