Dexelance closes first half year at 151 million, profit down to 1 million
Growth of 9.2 % in full revenues, organic change of 4.3 %. good performance of the residential sector, which grew by 16.4 %.
2' min read
2' min read
The Dexelance group, active in the high-end design, lighting and furniture sector, closed the first half of the year with revenues of EUR 151 million, up 9.2% compared to the same period of 2023, also taking into account the acquisition of Cubo Design finalised at the end of January last year, and with a minus sign (-4.3%) when looking at organic variation alone.
Ebitda amounted to EUR 18.5 million (-14.6%), with a reduction in the margin as a percentage of revenue of 12.6%, 'largely due to the continuation of the investment programme,' explained the company's note commenting on the half-yearly report. Ebit stood at EUR 8 million (-42.9%). The half-year ended with a net profit of EUR 1m, down 82.4% from EUR 5.8m in 2023.
The first half of the year, explains the group's CEO Andrea Sasso, was characterised by a better performance of the residential sector, and therefore of the group's companies active in this area (lighting, kitchens and furnishings), which performed better than the reference market, with a growth of 16.4%, driven by the good performance of the Kitchen&Systems area and the entry of the companies acquired in the second half of 2023, Axolight and Turri, into the perimeter.
On the other hand, the Luxury Contract area recorded a temporary negative performance (-8.7% compared to 2023), mainly due to the postponement of some important orders in the second half of the year. So much so, adds Sasso, that a reversal of the situation is expected in the second half of the year, with the contract area expected to grow more robustly than the residential and retail channel.
As far as markets are concerned (the group exports 73% of its production), there was a slowdown in France and Germany, its main markets, offset, however, by good sales dynamism in the Middle East and Africa. The trend in North America, the third largest export market and an area in which Dexelance continued to invest by strengthening its sales subsidiary and opening new spaces, was also positive.
