Poujoulat: The appetite for alternative solutions to fossil fuels drives Poujoulat’s activity

(BFM Bourse) – European leader in combustion smoke evacuation devices, Poujoulat recorded growth of 34% in the first quarter of its 2022-2023 financial year, thanks to consumer appetite for wood energy equipment and the renovation market. The Deux-Sèvres group continues to expect sales growth of over 25% for the current financial year.

In the first quarter (from April to June) of its 2022-2023 financial year, Poujoulat reported a turnover of 69.78 million euros, up 34% over one year.

The company first explains these good results by the dynamism of the energy renovation and wood-energy market, against a background of rising fossil fuel prices which are pushing households to equip themselves with more efficient equipment. “This phenomenon is noticeable everywhere in Europe where the consumer’s appetite for alternative solutions to fossil fuels is confirmed”, explains Poujoulat in his press release.

In addition, households show a strong appetite for wood energy equipment -logs or pellets-, which has led to significant sales of this equipment. The increase in sales for this division (+43.5%) corresponds to the preparation for the heating season. In the context of energy tension, Poujoulat’s professional and private customers tend to anticipate their orders, “anxious to approach next winter with a larger stock than in previous years”.

The action of the specialist in the installation and repair of all types of chimney flues, domestic or industrial is up slightly by 0.5% to 93.50 euros, around 10:30 a.m. not far from its historic highs at 96 euros . Poujoulat has seen its valuation almost double since the beginning of the year, its positioning in wood fuel in a context of soaring fossil fuel prices has clearly paid off. The capitalization of this company, majority controlled and managed by the Coirier family, is close to 190 million euros.

Confirmed goals

The month of July confirms the trend observed in the 1st quarter of the financial year with growth of around 30% compared to July 2021. Sales of wood energy equipment, heat pumps and very high performance boilers continue to benefit from strong development in Europe. Poujoulat cites the “repeated calls from the public authorities for energy sobriety” which encourage consumers to demonstrate, to replace their old heating appliances and to diversify their energy mix.

The group thus continues to expect revenue growth of more than 25% for the 2022/2023 financial year and also confirms its objective of a net profitability of around 5%. Finally, the group reiterates its ambitions in terms of diversification, particularly in the ecological transition and design markets.

Sabrina Sadgui – ©2022 BFM Bourse

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