Thermador: stock down on H1 sales

(CercleFinance.com) - Thermador Groupe shares have dropped over 5%, after the plumbing wholesaler published sales down 16.
1% to E271.5m for H1 2024, below expectations according to Oddo BHF.

After the sharp drop at the start of the year (-17.2% in organic terms), sales finally followed the same trend in Q2, with a 15% decline, the analyst notes, who points to a volume effect of -13.6% and a price effect of -2.5% for the half-year.

Oddo BHF sees a market environment that remains unpromising in the short term, and has therefore lowered its forecasts for 2024 and its target price from E90 to E88, while maintaining its 'neutral' opinion on the share.


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