Gaussin down after H1 sales drop by nearly a half

Gaussin SA

01/11/2023 08:33

** Shares in Gaussin  ALGAU.PA  drop about 8% after the
French transport and logistics firm posted significantly lower
half-year sales
    ** H1 sales and license revenues fell 49% to 13.6 million
euros ($14.37 million)
    ** "This low level of sales meant that we were unable to
absorb all fixed costs for the first 6 months of the year," the
company says
    ** It also flags "substantial inventories"
    ** H1 net loss, group share, widened to 23.8 million euros
from a loss of 13 million a year earlier
    ** "To finance its entire order book, the company is asking
its customers for advance payments," Gaussin says
    ** YTD, Gaussin shares are down about 75%

($1 = 0.9466 euros)

 (Reporting by Olivier Sorgho)
 ((Olivier.Sorgho@thomsonreuters.com))