10/26/23
Q3 2023 Revenues
- Q3 23 revenues of €656m, +14% vs. Q3 22
- Cumulative 9-month sales of €2,058m, +26% vs. 9-month sales 22, +27% like for like
- Q3 23 order intake on equipment of €216m vs. €588m in Q3 22
- End of Q3 23 order book on equipment at €2,718m vs. €3,666m in Q3 23
- Expected revenue growth of around 20% in 2023 compared with 2022
- Expected recurring operating profit in 2023 of around 6.5% of revenues
The group's activity was very sustained in the third quarter, enabling us to achieve a +26% growth for the first 9 months of the year compared with September 2022. The slowdown in construction and, to a lesser extent, agriculture markets is strengthening in Europe. Furthermore, our determination to restore shorter delivery times has led us to maintain order intakes beyond 2024 closed to dealer networks, resulting in low order intake for the quarter and a decrease in our order book, which should continue to decline in the coming quarters. Taken together, these factors enable us to confirm our expectation of annual revenue growth of around 20% compared with 2022, and to raise our expectation of recurring operating profit to around 6.5% of revenues.
Michel Denis, President & CEO