Poujoulat: Stable Revenue at €351M in 2025/2026, Wood Energy Up by 10%
On Friday, Poujoulat Group announced its consolidated revenue of €351 million for the fiscal year 2025/2026, showing a slight increase of 0.5% despite a significant market downturn. Behind this overall stable figure lies a fragmented reality: the traditional chimney flue division has fallen by 6.5%, while the wood energy sector has surged by 10%, indicating an ongoing transformation and increasing reliance on a future-oriented activity.
Strong Growth in Wood Energy, Decline in Flues
The chimney flues and industrial chimneys division generated a revenue of €187.2 million, down by 6.5% from €200.2 million in the previous year. This decline accounts for 60% of the downturn observed in the fourth quarter. The sector has been heavily impacted by geopolitical instability, lack of consumer visibility, and particularly the uncertainty surrounding the MaPrimeRénov' aid scheme, which has disrupted the demand for energy renovation. The fourth quarter was particularly hard-hit, with mild temperatures limiting seasonal sales and delays in the execution of some projects. In contrast, the wood energy division generated €163.5 million, marking a 10% increase from €148.7 million the previous year. The demand remained strong despite a €4 million drop in the fourth quarter due to mild temperatures. The activity saw a very strong dynamic in January before slowing down from mid-February.
A Disappointing Fourth Quarter but Selective Outlooks
The fourth quarter ended with a revenue of approximately €87 million, significantly below the group's forecasts, which will impact the annual results in a sharp decline. Frédéric Coirier, CEO, acknowledged that 'the last quarter of fiscal year 2025/2026 was worse than expected' due to geopolitical instability, lack of visibility, and mild temperatures. Nevertheless, the group is committed to a trajectory of cost control and margin improvement in this uncertain context. In April 2026, the monthly revenue showed a noticeable growth, signaling a possible improvement. The flue division remains temporarily in decline but is expected to benefit from a gradual recovery in new constructions and the announced relaunch of energy renovation in response to rising fossil fuel prices. The wood energy sector consolidates its position with strong growth in billings and orders, driven by the enthusiasm for decarbonized energy.
2026/2027: Target of +15% for Wood Energy, Slight Rebound for Flues
For the fiscal year 2026/2027, the group aims for slight growth in the chimney flues and industrial chimneys division, while the wood energy sector is expected to accelerate towards a growth of about 15% due to volume development and stable selling prices. This anticipated growth will fully benefit the group's results. Investments will be more measured and prioritized towards efficiency and digital transformation of the flue division, as well as increasing production capacities in wood energy. The group is betting on increased diversification between a transitional energy activity and sovereign decarbonized solutions for Europe.
