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Altheora suffers from difficulties in construction

The growth of published data, the decline of organic… The stock exchange has chosen: it sanctions the other. Shares in Altheora (formerly Mecelec) fell 12% to 52 cents on Wednesday. The company specializing in the processing of composite and polymer materials closed 2023 with a turnover of 41.3 million euros, which is a decrease of 8.8% on a comparable basis. The contribution of Chris-France Plastiques and its €8.3m invoicing was essential for Altheora to post a turnover of 17.6% in the published figures.

These data, which are in line with analysts’ expectations, should not forget the difficulties of the construction sector. According to the French Construction Federation, the number of new apartment starts fell by 23.4% in the last quarter of 2023, effectively slowing down Altheory’s construction division, which accounts for 44% of its total revenue. “ The industrial sector (11% of turnover) also suffered a sudden slowdown, with some activities such as healthcare or nuclear unable to compensate for the significant decline in the industrial equipment market. », adds the company. Only the mobility sector grew (45% of turnover), driven by the low-carbon offer that became central to urban transport, the railway industry and agricultural machinery. “ Both in the organic business and in Chris-France Plastiques, the financial year 2024 should be complicated again for Altheora. », emphasizes the Euroland Finance analyst, who mentions continued pressure on prices and slowing markets.

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