In Q3 23, the drop in organic sales (-15%) was mainly due to lower volume sold of petrol-powered wheeled products and watering products. The negative effect on EBIT was attenuated by a moderate price increase, lower raw material and logistic costs and cost savings. The outlook is gloomy. Production is reduced in Q4 23 and weak demand is assumed in 2024. On the positive side, free cash flow improved thanks to inventory reduction and cost savings implemented last year.

22 Oct 2023
Production reduced by year-end 2023

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Production reduced by year-end 2023
- Published:
22 Oct 2023 -
Author:
Hélène Coumes -
Pages:
3 -
In Q3 23, the drop in organic sales (-15%) was mainly due to lower volume sold of petrol-powered wheeled products and watering products. The negative effect on EBIT was attenuated by a moderate price increase, lower raw material and logistic costs and cost savings. The outlook is gloomy. Production is reduced in Q4 23 and weak demand is assumed in 2024. On the positive side, free cash flow improved thanks to inventory reduction and cost savings implemented last year.