on CABASSE GROUP (EPA:ALCG)
VEOM Group to see revenue decline in the first nine months of 2024
VEOM Group, a European player in the Smart Home universe, recorded a turnover of 14.9 million euros in the first nine months of 2024, a decrease of 16% compared to the previous year. The Chacon & DiO Home and Cabasse Audio divisions saw declines of 15% and 18% respectively.
The difficult market and weak demand from the retail segment weighed on results. The Cabasse Audio division suffered particularly from the impact of global economic conditions. The company expects an annual decline but hopes for a slight improvement in its gross margin.
VEOM Group anticipates a recovery in activity for 2025 thanks to innovations and the expansion of its product range, particularly in the Smart Home and Luxury Wireless Audio branches.
R. E.
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