(News Bulletin 247) – Investors are sanctioning Toosla on the Paris Stock Exchange on Thursday following the publication of its annual results, with analysts deeming the margins disappointing and its outlook cautious.
The digital specialist in short-term car rental reported annual revenue of 7.88 million euros, up 92%, after a 2022 financial year already marked by growth of 44%.
Its adjusted operating profit (Ebitda) amounted to 0.6 million euros, or 7.3% of revenue, compared to 22% in 2021 under the effect of the acceleration of investments made by the group.
In a reaction note, analysts at Invest Securities point out that operating profitability was “disappointing” in the second half, with an Ebitda of only 310,000 euros (margin of 6.4%) against an Ebitda of 262,000 euros (margin of 8.6%) in the first half.
After having made the necessary investments in 2022 to establish its reputation and its commercial base, Toosla says it is aiming for a ‘normalization’ of its investments by 2023.
The company thus aims to pursue the growth of its activity while gradually improving its profitability compared to the level of 2022.
The Invest teams point out, however, that the ambitions of doubling the fleet and turnover by 2024 and 2025 have not been reiterated.
Shortly before 2:00 p.m., the title dropping 11.2%, thus accusing one of the largest drops in a Parisian market in a bullish mood (+0.9%).
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