Investors punished Toosla this Thursday on the Paris Bourse following the publication of its annual results, with analysts deeming its margins disappointing and its outlook cautious.

The digital specialist in short-term car rental reported annual sales of 7.88 million euros, up 92%, after a fiscal year 2022 already marked by 44% growth.

Its adjusted operating profit (Ebitda) came to 0.6 million euros, or 7.3% of sales, compared with 22% in 2021, reflecting the acceleration of the Group's investments.

In a reaction note, analysts at Invest Securities point out that operating profitability was "disappointing" in the second half, with an Ebitda of just 310.000 euros (6.4% margin), compared with an Ebitda of 262,000 euros (8.6% margin) in the first half.

Having made the investments necessary in 2022 to consolidate its reputation and commercial base, Toosla says it is aiming for a "normalization" of its investments by 2023.

The company thus aims to continue growing its business while gradually improving its profitability compared with the 2022 level.

Invest's teams point out, however, that the company's ambitions to double its fleet and sales by 2024 and 2025 have not been reiterated.

Shortly before 2:00 pm, the share price dropped 11.2%, making it one of the biggest decliners on a bullish Paris market (+0.9%).

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