An update from Balco Group AB ( (SE:BALCO) ) is now available.
Balco Group AB reported a weak first quarter of 2024, with a decline in net sales and order intake compared to the previous year, prompting a major structural action program. The company faced delays in major projects across Sweden, the UK, and Finland, impacting sales and cash flow. Structural measures, including staff reductions and production consolidation, are expected to save approximately SEK 60 million annually. Despite challenges, there is a positive trend in order intake for Swedish and Finnish balcony companies, and Balco is increasing its presence in the renovation segment to capitalize on market opportunities.
More about Balco Group AB
Balco Group AB operates in the construction industry, specializing in balcony solutions and facade renovations. The company focuses on markets across Sweden, Finland, Norway, Germany, the UK, and the Netherlands, with a strategic emphasis on both renovation and new construction projects.
YTD Price Performance: -24.32%
Technical Sentiment Signal: Buy
Current Market Cap: €58.98M
See more data about BALCO stock on TipRanks’ Stock Analysis page.