In the first half of 2023, Esprinet sales fell by 13% from 2.2 billion in the first half of 2022 to 1.9 billion euros. The Spanish market suffered in particular (-19%) and, to a lesser extent, the Italian market (9%).
Commenting on the results Alessandro Cattani, CEO of Esprimet noted how “The first half of the 2023 financial year represented an important confirmation of our transition strategy towards a greater weight of value-added solutions and services”. This is true but Solutions represent only a fifth of the turnover while in the most important segments such as ‘screens’ (PCs, tablets and smartphones) sales fell by 21% and profitability halved.
Profitability is the most negative data among the accounts reported by Esprinet. Some results were achieved on the working capital front but the increase in rates was felt both on debts (the group has negative cash of 200 million) and on factoring discounts. Net profit fell by two thirds from 18 to 6 million and currently represents 0.3% of turnover. Ebitda fell by a third from 38 to 25 million and the Board of Directors had to revise its estimate for 2023, lowering it to 70 – 80 million.
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2023-09-14 22:30:45
#Esprinets #profit #drops #thirds
