Genexis Group presents the Q3 2023 financial report
Genexis Group Q3 2023 net sales were 48% below the same period last year. Customers built up high levels of safety stock the last months of 2022, which is still hindering the short-term revenue.“We expect the overstocking situation to gradually normalize over the coming 6 months. With our customers soliciting new product proposals, we start to see signs that the demand for broadband products and software rise again in the mid-term. We have also managed to secure our first deal in North America. The underlying demand for increased fiber penetration remains high and drives the market long