(News Bulletin 247) – Avenir Telecom is moving up sharply on Tuesday on the Paris Stock Exchange following the publication of its annual results, marked in particular by a strengthening of its cash position.

In a press release released last night, the designer of mobile phones and accessories under the Energizer brand, said it had “perfectly managed” the decline in its activity for the year ended March 31.

Its annual turnover fell by 20% to 23.3 million euros under the effect of the general decline in the market for mobiles and accessories.

However, the group managed to generate an operating margin, before central costs, higher than that which prevailed in 2021-2022.

Thanks to good cost control, the operating margin rate, before central costs, improved by more than one point, to 9.1% of sales, against 8% during the previous financial year.

Given the temporary lag between the level of activity and central costs, its operating loss however increased to -5.8 million euros against -1.4 million in 2021-2022.

The net loss reached four million euros, against a shortfall of around 800,000 euros in the previous year.

Reason for celebration, the available cash has improved, to stand at 27.8 million euros at the end of March 2023 against 24.9 million a year earlier.

At the end of March 2023, Avenir Telecom thus had equity of 20.7 million euros, but no debt.

The company believes that this ‘robust’ financial situation will allow it to invest in its commercial recovery.

Today refocused on its historical activity following the cessation of sales of laptops and tablets, Avenir Telecom says it is preparing its new development plan “serenely”.

At 9:45 a.m., the title took close to 6%, while, at the same time, the CAC Mid & Small index lost nearly 0.1%.

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