ITC and modulyss parent Belysse Group saw a drop in third quarter sales as demand across Europe remained weak.
The flooring producer saw turnover drop by 7.6% to €68.1m, with a 7.1% fall in sales and 0.5% caused by currency changes.
‘The third quarter consolidated group revenue for 2024 reflects the continued weak market demand in Europe, while Bentley Mills’ [US] project driven business has been more resilient with volumes only slightly below prior year,’ says the group.
‘Adjusted consolidated group EBITDA for the quarter was organically stable year over year, but slightly negatively impacted versus last year by currency, despite headwinds on volumes. Higher unitary margins generally compensated lower volumes. Leverage remained in line with the level of June 2024.’