Plumbing equipment distributor Thermador Groupe posted third-quarter 2023 sales of 130.5 million euros, stable on a reported basis (+0.3%), but down 6.4% on a like-for-like basis.

It points out that the slowdown in the economy, a consequence of the interest rate hike implemented by the ECB to combat inflation, is now affecting most of its markets (construction, public works, industry, swimming pools and DIY).

Following on from the third quarter, we anticipate a decline in business on a like-for-like basis in the fourth quarter, and are preparing to face a particularly difficult 2024", warns the group.

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