Novacel Achieves Strong Performance in First Half of 2024
Novacel Achieves Strong Performance in First Half of 2024, Driven by a 10% increase in Volumes
The EMEA region, a key driver of growth, benefited from improved market conditions early in the year and from initial restocking efforts by manufacturers.
Novacel’s sales teams successfully captured market share, thanks to their strong on-the-ground presence and the introduction of new products, allowing them to outperform competitors. In Asia, growth was mainly fueled by the rapidly expanding Indian market.
Innovation continues to drive results: the Oxygen product line has gained significant traction, with sales quadrupling. This innovative range, designed to use less virgin polyethylene and reduce carbon emissions, aligns with the growing demand from manufacturers for more sustainable solutions.
A strong contribution to the Chargeurs Group's performance, with a revenue of 374.3 million euros.
Revenue for the first half of 2024 was up +8.6% on a reported basis and +11.1% on a like-for-like basis, compared with the first half of 2023. Sustained organic growth was driven in particular by a sharp improvement in Novacel’s activity and a remarkable sales momentum at Museum Studio.
Revenue growth was balanced in the first and second quarters of 2024, with increases of +11.3% and +10.9% respectively, confirming the Group's strong growth momentum.
Geographically, the Group benefited from the outperformance of the North American market, recording a very strong like-for-like growth of +29.3% on this continent, for the first half. Chargeurs continues to gain market share there, notably through its Chargeurs PCC and Museum Studio business lines.
In Asia, Africa and the Middle East, the Group reports like-for-like growth of +8.4%, driven by a momentum in India and the growth of Southeast Asian markets. Chargeurs now generates almost 60% of its revenue in these high-performing regions.
In Europe, where the Group generates 41% of its revenue, like-for-like growth of +1.4% is mainly attributable to market share gains achieved by Novacel in a very dynamic market.
Read the Chargeurs’ Press release CHARGEURS - First-half 2024 results - Chargeurs
