Energy efficiency specialist Boostheat announced on Wednesday that it had cut its first-half operating loss by more than a third, thanks to a sharp reduction in operating costs.

The group, which has developed a thermal compressor that optimizes energy consumption, reported this morning an operating loss of just over three million euros for the first half, compared with -4.7 million euros a year earlier.

In its press release, Boostheat explains that it benefited from its strategic repositioning, which led to a 15% reduction in its payroll, with the number of employees cut from 28 to 12.

External expenses (rent, consultancy, etc.) were down by 29%.

For Hugo Brugière, the company's CEO, this performance validates the roadmap put in place as part of the safeguard plan supported by his holding company, HBR Investment Group, since last May.

After surging in early trading, Boostheat's share price was down by more than 9% as mid-day approached.

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