An update from Balco Group AB ( (SE:BALCO) ) is now available.
Balco Group AB reported a weak first quarter in 2024, with significant declines in net sales, order intake, and operating profit due to project delays and market uncertainties. In response, the company initiated a major structural action program, including staff reductions and production consolidation, aiming to save approximately 60 MSEK annually. Despite challenges, there are positive signals with increased order intake in Swedish and Finnish markets, and ongoing opportunities in Germany and the UK. The company remains optimistic about gradual market recovery and plans to continue investing in sales and product development.
More about Balco Group AB
Balco Group AB operates in the construction industry, focusing on balcony and facade solutions. The company is involved in renovation and new construction projects across various markets, including Sweden, Finland, Norway, Germany, the UK, and the Netherlands.
YTD Price Performance: -24.32%
Technical Sentiment Signal: Buy
Current Market Cap: €58.98M
Learn more about BALCO stock on TipRanks’ Stock Analysis page.