(News Bulletin 247) – The composite materials specialist is gaining momentum on the stock market, after being selected by an automobile manufacturer for its next electric truck model.

Altheora flies to the Paris Stock Exchange. The title of the composite parts specialist soars 54% in copious volumes after being selected by a major automobile manufacturer to prototype the truck of the future.

The former Mecelec was pleased to have been selected by a world-class heavy goods vehicle manufacturer – whose identity has not been revealed – to prototype a set of parts in composite materials for its next model of electric truck.

“Thanks to its expertise in mobility markets and a cutting-edge design office, Altheroa has demonstrated its ability to meet demanding specifications. Prototyping of complex parts intended for the production of the brand’s future electric truck is already launched, and the group is working on the manufacture and completion of this set,” explains the company based in Mauves.

A major player in transport

As part of this contract, Altheora will support this major transport player in reducing its carbon impact. The company says it is reaping the benefits of its strategic refocusing and is thus observing a “multiplication of calls for tenders”. “The mobility market continues to grow and continues to attract customers and prospects, as this project illustrates,” she continues.

Founded in 1934, Altheora was originally a specialist in electrical network equipment. The company quickly located in Ardèche to position itself after the war in the processing of composite materials and plastics. And since 2017, Altheora has engaged in a major transformation and is primarily targeting companies that would provide complementary services, products or skills for sectors as varied and demanding as the railway industry, aeronautics, automobiles, medical, leisure or even street furniture…

At the end of 2022, the composite parts specialist, for example, acquired Chris-France Plastique​, a manufacturer of large plastic parts located in the heart of the famous Plastics Vallée in Ain. This company has injection presses with a capacity ranging from 23 to 2,300 tonnes allowing it to machine technical or large parts.

A welcome integration

Moreover, the integration of Chris-France was crucial for Altheora’s activity in 2023. The integration of this new company into the scope of the Ardèche company made it possible to provide 8.3 million euros additional turnover.

In total, Altheora saw its billings increase by 17.6% in published data to 41.3 million euros. Removed from the contribution of this new activity, the picture is much less flattering for Altheora. Organically, the company saw its sales contract by 8.8% over one year.

The group explains that it recorded contrasting performances at the end of the year. The construction division, which represents 44% of Altheora’s overall billings, was on the front line of these difficulties, due to an unfavorable situation in the construction sector. The group cites figures from the French Building Federation, which records a 23.4% drop in new housing starts year-on-year over three months to the end of November 2022.

Altheora’s industrial sector (11% of turnover) also suffered a sudden slowdown, since certain activities such as medical or nuclear were unable to compensate for the marked decline in the industrial equipment market. The mobility sector (45% of turnover) is doing better and continues to grow, “driven by the group’s low-carbon offering”, explains Altheora.

As an outlook, the company boasts an order book of 12 million euros, which according to Altheora, allows it to approach 2024 with good visibility. An optimism which is not really shared by EuroLand Corporate, which does not really see “catalysts likely to have a material impact on the group’s growth and its profitability”.

“Both in terms of its organic business and Chris-France Plastiques, the 2024 financial year should once again be complicated for Altheora (pressure on prices, slow markets), which is counting on a recovery in the construction market in the second half of the year,” adds the financial intermediary.

This publication was then sanctioned, the stock having lost 21.6% on January 24 before continuing its decline and losing 10% the next day. Today’s sharp increase therefore revived Altheora on the stock market, which was then stagnating around 0.40 euros, not far from its lows of November 27 at 0.35 euros.