ADVEO reduces losses
| 21 September, 2017
ADVEO reduced losses by 72% in the first half 2017, reporting a loss of €5.8m compared to €20.4m in first half 2016.
The results were affected by various extraordinary costs due to the logistics restructuring and to organizational changes in Spain and France, which amounted to €4.9m.
Sales for the first half of 2017 amounted to €250.3m, which were down 5.2% compared to the same period in 2016 (excluding the effect of the EOS repositioning).
Gross margin grew from 19.6€ to 29.5€ because of a renewed mix of products, focused on TOS and new categories in Facility Management.
ADVEO’s business transformation to adapt its structure to a more efficient model led to costs falling by €4.7m as a consequence of the implementation of different measures in Spain and France.