Tech company Solutions 30 falls into the red for its half-year as French business struggles

Solutions 30 SE

28/09/2022 17:00

Sept 28 (Reuters) - Technology services company
Solutions 30  S30.PA  reported a sharp decline in first-half
core profit and a loss at the net result level, hampered by a
weak performance in France.
    "Performance in France has been penalized by our historical
markets reaching maturity and by the delay in our growth drivers
- especially for the energy transition - due to supply chain
disruptions," Chief Executive Officer Gianbeppi Fortis said in a
statement. 
    "We now find ourselves in the midst of an operational
transition," he added.
    Solutions 30 posted a 77.5% drop in its adjusted earnings
before deducting interest and taxes (EBIT), which reached 6.7
million euros ($6.45 million) in the first six months of its
financial year ending on June 30.
    Its net result for the period turned to a loss of 12.3
million euros, against a profit of 14.1 million euros last year.
    The group, however, confirmed its long-term outlook, citing
an "excellent momentum outside France".
    "We have reached a low point and we anticipate a recovery in
the final quarter that will continue throughout 2023," said
Fortis.
    ($1 = 1.0382 euros)
 (Reporting by Juliette Portala;
Editing by Sudip Kar-Gupta)
 ((juliette.portala@tr.com ; +48 587 696 607))