France · Delayed Price · Currency is EUR Thermador Groupe Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw strong turnover growth, especially in pro channels and key subsidiaries, despite retail weakness and geopolitical risks. Cash position remains robust, investments are ongoing, and price impacts are expected to turn positive later in the year.
Fiscal Year 2025
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Turnover and profit remained stable in 2025 despite a 2.9% decline at constant scope, with resilience in the pro and industry segments offsetting retail weakness. Cash position reached a record €96.9 million, and acquisitions of C2AI and QUILINOX expanded the group.
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Q3 saw modest growth at constant scope, record cash position, and strong equity, despite retail and professional turnover declines. Strategic acquisitions and CapEx support industrial focus, while cautious outlook persists amid political uncertainty and stable industry indicators.
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Turnover declined 5.6% year-over-year, but margin rates improved due to cost optimizations and favorable exchange rates. Free cash flow stayed positive, equity increased, and major subsidiaries remained profitable, though some segments faced losses.
Fiscal Year 2024
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Turnover fell 14.1% year-over-year due to lower prices and volumes, with retail and pro channels both significantly impacted. Despite challenging markets, cash and debt positions remain stable, acquisitions were completed, and long-term growth prospects are supported by ongoing investments and diversification.
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Sales and profits declined sharply in H1 2024 amid a challenging French housing and retail market, but gross margin held steady and cash flow remained strong. Regulatory changes in energy renovation subsidies weighed on results, while the group maintained its long-term growth targets.