Finance

In 2021, our markets did well overall. There has been a strong recovery in new builds, albeit after a poor year in 2020. The energy renovation market has also been very successful, with the sharp rise in traditional energy prices stimulating significant investments in this area. In addition to this, consumers are more and more concerned with improving the quality of life at home, which has led to strong growth in the wood heating market.

Despite the unprecedented health crisis, we have continued to invest, improved our productivity and managed to keep our structural costs under control. And this would not have been possible without the hard work, commitment and flexibility of the Poujoulat Group employees, who have constantly adapted to the changing circumstances and sanitary restrictions, while at the same time satisfying the needs of our customers and consumers.

During the last 18 months, the Poujoulat Group has encountered a certain number of diffculties in terms of supply. The faster-than-expected economic recovery in mid-2020 led to significant increases in steel prices (double to be exact), while the rise in energy prices in the autumn of 2021 led to a further increase in the cost of raw materials, which was further exacerbated by the conflict in Ukraine. Unfortunately, although we have made every effort to optimise our costs and guarantee our supplies, the Poujoulat Group has been forced to gradually increase its prices but not without giving its customers several months’ notice.

European growth has been slowing down for some months now. It has not yet had an impact on our activity, except for building permit applications, which have been decreasing since last spring. Nevertheless, our main markets remain healthy, and our energy efficiency, renewable energy and customisation strategies are really paying off.

We plan to make significant investments in terms of capacity and productivity over the next three years. They will help to reduce the pressure on our factories, which are currently under a great amount of stress, but also to prepare for future growth. We will also carry out a major overhaul of our ERP system in order to increase efficiency, improve flexibility and speed up our digital transformation.
Finally, as in previous years, we continue to make great progress in terms of de-carbonisation and social commitment. The Poujoulat Group has set itself ambitious objectives through its company project, “Positive Relations”, and has stepped up its efforts to be even more sustainable and exemplary. This is reflected in our Declaration of Extra- Financial Performance (DEFP).

The Poujoulat Group’s growth in the first months of the 2022/23 financial year continues to exceed 30%.

In terms of turnover, our 2022/23 target is to achieve a 50% increase in the wood-energy branch and more than 20% in the flue and industrial chimneys branch, i.e. a turnover in excess of €380 million. Unlike last year, more than 50% of this growth will be achieved through price increases.

We aim to meet or exceed our 5% net profit target.

We are confident that the Poujoulat Group has the potential to grow and become even more profitable.

Once again, I would like to thank you, our partners, customers, employees, suppliers, financial and institutional partners, for your support and loyalty. Let’s continue the Poujoulat adventure together!

Find out more