Carpet manufacturer Belysse has announced its financial results for the 2024 financial year. Consolidated group sales decreased by 6.8% compared to 2023, resulting in a total of €280.4 million. This decline was mainly due to weak market demand in Europe, where sales fell 10.2% to €125.9 million. In the United States, the sales decline was more limited, with a 3.9% decrease to €154.5 million.
Despite the revenue decline, Belysse managed to improve profitability significantly. EBITDA rose 26% to €42.4 million. In the US, EBITDA increased to €32 million, compared to €30.6 million in 2023. In Europe, the increase was even more remarkable: from €3 million in 2023 to €10.4 million in 2024.
James Neuling, CEO of Belysse Group, explained, "Despite continued limited market demand, the group's margins and EBITDA improved significantly, thanks to both regions. I wish to thank the team for their continued efforts on commercial excellence, efficiency and costs as we look forward to the recovery of markets.
We also made good progress in our sustainability programme, further reducing CO₂ emissions per m² produced, increasing the proportion of certified recycled material and successfully recertifying collections to the latest Cradle-to-Cradle standards. In addition, we have set SBTi targets leading us to 2030."
More information:
Belysse Group
www.belysse.com
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