French furnishings firm Roche Bobois SA has reported a slight decline in third quarter sales, driven by its native market.
According to its latest trading update, Q3 2024 sales were down 2.2% to €96.2m from €98.4m in 2023.
Revenues in France resulted at €22.5m, down 14.8% from €26.4m, while sales elsewhere in Europe fell 5.4% to €21.8m. Sales in the US and Canada were down 0.6% to €35.8m.
Year-to-date sales for the nine month period fell 6.1% to €300.6m from €320.1m.
“Revenue generated in Europe (excluding France) was down -5.4%, notably penalised by Germany, Spain and the United Kingdom while Switzerland and Belgium delivered double-digit growth,” the group said.
“Q3 revenue for France declined more significantly (down -14.8% and -6.9% for Roche Bobois and Cuir Center respectively) against an unfavourable economic backdrop.”
Over the next quarter, Roche Bobois SA will seek to step up the pace of deliveries for its order backlog (€139m at 30 September 2024, including China) and therefore return to growth in Q4 2024. The Group is aiming for a slight increase in revenue for H2 2024 versus the same period one year earlier.
On a full-year basis in 2024, the Group reaffirms its guidance for revenue of around €418m and a decline in EBITDA of approximately 15-20%, albeit with a more profitable second half than the first.
