A floorcoverings manufacturer in Belgium, has reported a decline in sales for both the fourth quarter and full year of 2024.
According to Belysse's latest trading update, Q4 sales fell 5.7% to €67.6m from €71.7m in 2023. Sales in Europe dropped 12.3% to €30m, while revenues in the US saw a slight increase of 0.3% to €37.6m.
For the full year, total sales declined 6.8% to €280.4m from €300.9m in 2023. European sales fell 10.2% to €125.9m, while US revenues dropped 3.9% to €154.5m.
Despite the decline, adjusted EBITDA increased 26% to €42.4m from €33.7m, with the group's margin rising from 11.2% to 15.1%.
James Neuling, CEO, stated that 'despite continued soft market backdrop, Group margins and EBITDA have significantly improved,' crediting the team's focus on commercial excellence, efficiency, and cost management.
The company also reported progress in its sustainability initiatives, including reductions in CO2 emissions per square metre produced, increased use of certified recycled content, and the successful re-certification of collections under the latest Cradle-to-Cradle standards. It has also set Science-Based Targets Initiative (SBTI) goals extending to 2023.
Additionally, the group announced the appointment of Claire Knollys, a director at Hudson Advisors UK Limited, as a non-executive director.
Source: www.bigfurnituregroup.com