Bio-UV Group was one of the biggest decliners on the Paris Bourse on Thursday, following the publication of its half-yearly results, judged to be mixed and accompanied by a downward revision of its forecasts for the rest of the year.

Shares in the specialist in water treatment and disinfection by UV and electrolysis fell by over 5% at 10:30 a.m., while the Parisian CAC Mid & Small index lost exactly 1%.

The Lunel-based group last night reported a 20% drop in operating profit (Ebitda) to 3.8 million for the first six months of the year, accompanied by a profit almost halved to 1.2 million euros.

We were expecting worse, and prefer, in view of the situation, to appreciate the fact that the Group's profitability has been maintained at a relatively high level", commented Euroland's analysts, who also highlighted the company's improved cash management.

Bio-UV claims to have generated a half-yearly free-cash-flow of two million euros over the past six months, the highest ever and higher than the level achieved over the full 2022 financial year.

However, the company has also updated its targets, explaining that it is now aiming for sales in the second half of the year "of the same order of magnitude" as in the previous two half-year periods.

As a reminder, the group had previously forecast sales in the second half of the year "higher" than those achieved in the first half of 2023.

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