Own brand sales continue to improve in a market featuring persistently weak demand, outperforming the benchmark index. The OEM destocking phase continues with significant double-digit contraction. Despite the weak market momentum, the focus on expanding the product range in the OWN BRANDS area highlights the solidity of the long-term strategy. The production of new induction hobs and aspiration hobs confirms the excellent strategic position of the Group.
The third quarter, which was particularly weak, saw a -30.8% contraction. The destocking measures put in place by the customers and a change in the regulatory framework significantly contributed. Despite the current general economic environment and the reduced short-term visibility, the motors division - and in particular the heat pump segment continues to be a point of strength in the Group's long-term strategy.