Jacquet Metals dropped 4% after the special steels distributor reported net income, group share, of €49 million for the first nine months of 2023, compared with €160 million to end-September 2022.

Its recurring EBITDA margin was virtually halved to 6.7% of sales (versus 12.7% a year earlier) on sales of €1.76 billion, 16.7% below those recorded over the same period last year.

In 2023, market conditions are mainly characterized by weak demand and price erosion, correlating with the slowdown in industrial activity in all the Group's markets, particularly Germany", explains the Group.

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