Softer activity and lower demand impact sales at floorcoverings group

Floorcoverings manufacturer Belysse, formerly known as Balta, has reported a decline in first quarter sales.

According to its latest trading update for Q1 2024, total group sales fell 8.3% to €70.3m. In Europe, sales were down 5.5%, while in the US, revenues declined 11.3%.

Commenting on the update, Belysse said: “The first quarter consolidated group revenue for 2024 reflects softer activity in Bentley Mills’ project driven business and lower market demand in the European residential business line. The Commercial business line in Europe achieved a stable revenue compared to Q1 2023.

“Adjusted EBITDA and margin improved materially year-on-year. Europe’s results continue a significant recovery due to lower cost of goods sold and reduced fixed expenses. In the US, higher unitary margins and lower fixed expenses more than offset the negative impact of the lower volumes.”

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