Cogra: cautious about its outlook after a record financial year – 09/13/2022 at 11:44

(CercleFinance.com) – Cogra was cautious about its outlook for the new 2022/2023 financial year after reporting ‘record’ results last night for the past financial year.

The wood pellet producer explained that the current dynamics of its market called for “the greatest vigilance”, both economically and ecologically.

In a press release, the group based in Mende (Lozère) expresses its intention to replicate the rise in the price of raw materials without weighing too much on its prices in order to continue to offer consumers a competitive heating solution.

From an ecological point of view, Cogra believes that it is now essential to preserve responsible sources of supply.

According to Euroland analysts, the company is facing an ‘unprecedented’ situation, in which the supply of raw materials will be increasingly difficult, with some sawmillers now being forced to put their production in the context of soaring energy prices.

For its 2021/2022 financial year, ending at the end of June, the group reported historic performance, with an annual EBITDA up 73% to 6.6 million euros.

Its net result stood at 2.9 million euros, up 109%, which represents 7% of its turnover.

Around 11:30 a.m., the share yielded more than 7% and showed one of the biggest drops in the Paris market.

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