Simonds Group also had a significant margin rebound during Q1 24 : EBITDA margin of 2.9 % vs -0.9 % for Q1 23.
However, we can see that the margin increase for Simonds was much smaller than the one of Tamawood and was more explained by cost cutting for Simonds, even if Simonds also improved its gross margin.
During Q1 24, Simonds had a net margin of 0.1 % (vs 9.2 % for Tamawood).
Business model, page-3
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