Airwell: share price rises after record sales for 2023

(CercleFinance.com) - Airwell gained over 8% on the Paris Bourse on Wednesday, after reporting record sales of 65 million euros for 2023, up 17%.


The heat pump design specialist emphasized that this level of activity, higher than its initial ambitions, was driven by a very strong 4th quarter growth of 42%, under the effect of excellent momentum in France, the group's leading market.

In a reaction note, analysts at Invest Securities are impressed by this performance, which they believe confirms "the relevance of the strategy to market more and more integrated solutions".

The brokerage firm has therefore raised its target price from 5.8 to 6.5 euros, while renewing its buy recommendation on the share.

On the strength of this good level of activity, Airwell has stated that it anticipates an EBITDA margin of 5% for the 2023 financial year, compared with 2.8% in 2022, thus moving two years ahead of its target of achieving such a figure by 2025.

The Group - which has set itself the target of sales in excess of 100 million euros by 2025 - plans to communicate its new EBITDA margin ambitions when it publishes its annual results for 2023, scheduled for April 23.

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