Poujoulat Targets €375 to €380 Million in 2026/2027, Driven by Wood Energy
Poujoulat regains momentum in the first quarter of 2026/2027, though improvements vary across divisions. The group identifies an alternative growth source (Wood Energy) while its traditional core (Chimney Flues, Industrial Chimneys) struggles to assert itself, counterbalanced by cost risks linked to geopolitical tensions. This shift in dynamics explains the cautious annual guidance: the group aims for 'substantial' growth for the fiscal year 2026/2027, targeting revenues between €375 and €380 million, representing an increase of 6.8% to 8.3% compared to €351 million in 2025/2026.
Wood Energy in Strong Acceleration, Chimney Flues Still Under Pressure
The first quarter shows a redistribution of performance within Poujoulat's portfolio. The Wood Energy segment displays a remarkable order dynamics, with order intakes up by 50% over the previous year, accompanied by a clear increase in production capacities at the factories (Wood Factory). This acceleration is supported by real market share gains and increasing customer demand.
Conversely, the traditional Chimney Flues segment remains weakened. The activity continues to lag due to stagnant real estate dynamics and a slowdown in renovations. However, signs of recovery are emerging in exports, with some markets showing good traction. Industrial Chimneys are experiencing more sustained activity with well-oriented order intakes, creating a foundation for the coming months.
Moderate Guidance, Explicit Vigilance on Costs
For the fiscal year 2026/2027, Poujoulat anticipates revenues between €375 and €380 million, reflecting a sensible growth of 6.8% to 8.3% compared to 2025/2026. This guidance is framed by two variables: on one hand, the gradual recovery expected in the Chimney Flues and Industrial Chimneys segment, whose timeline remains unclear; on the other hand, the evolution of geopolitical tensions and their impact on production costs, a factor of explicit vigilance according to Frédéric Coirier, CEO of the group.
The group intends to maintain a balance between growth ambition and risk control, with the affirmed goal of 'positive results' for the fiscal year reflecting a priority to return to profitability after a significant decline in profitability in 2025/2026.
