Friwo's shares started the year 2023 well and then fell sharply. In an interview with Investor Magazin, CFO Tobias Tunsch promises a turnaround for 2024 and explains why the company failed to achieve its own targets in the last year.
First the share plummeted, then came the profit warning!Things didn't start so badly for Friwo (€28.20 | DE0006201106) in 2023. The share was able to sustainably overcome the €40 mark and our discussion from the beginning of December 2022 also seemed to pay off. In view of the weakening global economy, we advised in our update to calmly tighten the stop. This turned out to be the right strategy, as the share price fell over the summer. This was followed by the profit and sales warning at the end of October. The figures for the third quarter make it clear: at €29.9 million, turnover between July and September was well below the previous year's figure of €58.6 million. Over the nine months as a whole, the drop in turnover amounted to around a third. In terms of EBIT, the Westphalian company slipped into the red at €-0.6 million.
Weak consumption leads to cancellationsWhat had happened? In an ...
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