Solutions 30 tumbles on 'lukewarm' margins

Solutions 30 SE

22/09/2023 08:25

** Following a delayed opening, Solutions 30  S30.PA  shares
slump 17% in choppy trade as the Luxembourg-based new
technologies company posted disappointing H1 figures
    ** The company's H1 net loss group share widened to 14.4
million euros  ($15.3 million), while its EBITDA margin fell to
5.3%
    ** Midcap Partners dubs the company's H1 operating margin
performance "lukewarm"
    ** The brokerage points to the impact of ramp-up costs in
Belgium and difficulties in Italy as the main factors affecting
the slow recovery of the margin
    ** It also highlights a drop in Solutions 30's end-June FCF
which is an outflow of 32.4 million euros compared to inflow of
54.1 million euros at end-December
    ** Shares touch lowest point since end-April and head for
their biggest single-day drop in almost 11 months

($1 = 0.9422 euros)

 (Reporting by Laura Lenkiewicz)
 ((Laura.lenkiewicz@thomsonreuters.com))