ITC Carpets and Modulyss owner Belysse has seen sales decline by more than 10% in the past quarter, hitting profits.
The group was hit by falling demand and foreign currency changes.
Sales fell by 10.9% to €60.6m.
US sales fell by 11% – a combination of currency effect. – 6.7% – and lower organic sales – 4.9%.
European sales dropped by 10.8%.
‘The third quarter reflects continued weak market demand in the European residential market, slightly lower volumes compared with prior year in US project driven business and unfavourable exchange rate effects. Sales in the European commercial market were stable,’ it says.
‘Adjusted consolidated group EBITDA for the quarter was below Q3 2024, due to adverse US$ translation and lower volumes. This was partially compensated by higher unitary margins both in the US and Europe. Fixed expenses for the quarter were below prior year levels.’
