Last night, Egide reported sales growth of 8.7% in 2023, but warned that geopolitical factors would slow business this year, a prospect which caused its share price to fall sharply.

The manufacturer of hermetic enclosures for sensitive electronic components generated sales of 36.75 million euros last year, compared with 33.81 million euros in 2022.

The group points out that this marks a clear acceleration in growth compared with the 4% increase in sales in 2022.

In detail, Egide says it benefited from the strengthening of its leading position in the imaging market in Europe and the Middle East, while its US subsidiary benefited from increased sales to two major customers, one in thermal imaging and the other in power packages.

As far as 2024 is concerned, the company says it expects to maintain its consolidated sales at the same level.

Growth in Egide USA's activities, thanks in particular to new contracts for thermal batteries for the military sector, should in fact be offset by the expected drop in its activities in Europe, due to geopolitical factors, explains the company.

Listed on the Paris Bourse, Egide's share price fell by 17% on Tuesday morning following this announcement, marking by far the biggest drop on the Paris market, bringing its gains over the past 12 months to 52%.

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