Thermador: sales down 17% in Q1

(CercleFinance.com) - Thermador Groupe has announced a 17.
2% drop in sales to 141.2 million euros for the first quarter of 2024, pointing to a delay in the new organization for the allocation of subsidies under the MaPrimeRénov' program.

To explain this drop, it also points to heavy rainfall at the start of the year, a more difficult basis for comparison, a French new housing market at a low and a faster-than-expected turnaround in prices.

Noting, however, a relaxation of the new rules for awarding MaPrimeRénov' subsidies, Thermador reiterates a more optimistic view of its business in the second half and says it remains serene in the medium term.

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