Decrease in annual turnover for Cogra in 2023/24

Stock price chart of COGRA (EPA:ALCOG) showing fluctuations.

Cogra, a pioneer in wood energy in France, announced an annual turnover of 39 million euros for the 2023/24 financial year, down 24% compared to 2022/23. The company explains this decrease by a drop in heating consumption due to mild winter temperatures and a significant drop in the prices of wood pellets.

Revenue for the fourth quarter amounted to 4.6 million euros, down 47% compared to the previous year. Cogra recognizes the economic and sectoral disruptions, but remains confident thanks to its production and storage capacities.

Profitability is also affected, with an EBITDA margin rate slightly lower than the objectives of the CAP 2022 plan. Forecasts for 2024/25 will be specified when the annual results are published on September 9, 2024.

R. E.

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