In its Q3 2024 update, Belysse Group NV reported a consolidated group revenue of €68.1 million, marking a 7.6% decrease compared to Q3 2023. Organic revenue fell by 7.1%, while currency exchange effects contributed a negative impact of 0.5% on revenue. The decline in sales per division was -3.3% in the US and -13.4% in Europe.
Photo: Bentley, one of the brands in the Belysse Group.
Revenue growth by division
Revenue growth varied across divisions. In the United States, revenue declined by 3.3%, with 2.4% attributed to organic factors and 0.8% due to exchange rate fluctuations. In Europe, the situation was less favourable, with a decline of 13.4%. These figures reflect persistently weak market demand in Europe, although Bentley Mils' project-driven business remained relatively stable, experiencing only a slight drop in volumes compared to last year.
Financial health
The group's adjusted consolidated EBITDA remained organically stable year-on-year. However, figures were slightly negatively affected by exchange rate fluctuations despite volume pressures. Positive developments in unit margins generally helped offset the lower volumes. The debt ratio remained consistent with June 2024, indicating a stable financial position.
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Belysse Group
www.belysse.com