- ISIN NO0012938325
- Land Deutschland
Hörmann Industries GmbH
HÖRMANN Industries with significant sales and earnings growth in the first half of 2023
|
EQS-News: Hörmann Industries GmbH
/ Key word(s): Half Year Report/Half Year Results
HÖRMANN Industries with significant sales and earnings growth in the first half of 2023
Johann Schmid-Davis, CFO of HÖRMANN Industries GmbH: “Despite the challenging economic environment and a sharp rise in material, personnel and energy costs, we have continued the positive development in the first half of 2023. For the remaining six months, we are cautiously optimistic and expect a positive result at about the previous year’s level.” All four business divisions contribute to earnings improvement; Automotive achieves turnaround In the Automotive division, sales increased by 31.6% year-on-year from EUR 189.0 million to EUR 248.8 million, in particular due to the aforementioned production interruptions by major OEM customers in the prior-year period. In addition, the positive forecasts of important customers in truck production in the first half of 2023 materialized. With this high increase in sales, the turnaround was achieved and EBIT of EUR 2.2 million was generated in the first half of the year (previous year: EUR -5.6 million). The Communication division also performed well in the first half of 2023 and, with sales of EUR 73.7 million (previous year: EUR 75.3 million), was largely at the level of the previous year and above budget. In the previous year, the division benefited considerably from government stimulus programs, among other things, which have now expired as planned. Nevertheless, the division was also able to maintain earnings at almost the same level as in the same period of the previous year, generating EBIT of EUR 8.5 million (previous year: EUR 9.8 million). The Intralogistics division, which was heavily impacted by supply bottlenecks and market uncertainties, recorded an increase in sales to EUR 36.6 million in the first six months of 2023 (previous year: EUR 22.7 million, pro forma). In this division, which was newly established in May 2022, the focus in fiscal 2023 lies on organizational development and processing the multi-year project orders. Thanks to the increase in sales, the division improved its earnings by EUR 2.6 million in the reporting period. However, due to the continuing project delays, the result for the first half of 2023 remained in the loss zone with EBIT of EUR -0.9 million (previous year: EUR -3.5 million, pro forma). With sales of EUR 13.2 million, the Engineering division was up EUR 2.6 million or 24.5% on the first half of 2022 (EUR 10.6 million, pro forma). Due to a change in the product and service mix compared with the previous year, EBIT remained at EUR 2.5 million and thus at the level of the previous year (EUR 2.4 million, pro forma). The order backlog of HÖRMANN Group also developed positively and increased by EUR 58.3 million to EUR 519.6 million in the first half of 2023 compared to December 31, 2022 (EUR 461.3 million). Of this amount, the Communication division accounted for EUR 202.3 million, the Intralogistics division for EUR 133.5 million, the Automotive division for EUR 133.9 million and the Engineering division for EUR 49.9 million. The project-oriented divisions of Communication, Intralogistics, and Engineering thus have an order backlog of more than one year’s sales. In the Automotive division, the existing multi-year master agreements with OEM customers are only included in orders on hand for advised call-off orders of an average of ten weeks. Forecast for the full year 2023 confirmed HÖRMANN Industries GmbH confirms its forecast published in the Annual Report 2022 and, based on an analysis of the current order situation and a confident assessment of the business performance in its individual divisions, continues to expect sales of EUR 730 million to EUR 760 million in 2023 (2022: EUR 685.7 million). For the operating business, taking into account the significant increase in the cost base due to inflation, positive earnings before interest, taxes, depreciation and amortization are expected to be at the level of the previous year between EUR 34 million and EUR 36 million (2022: EUR 35.3 million). The HÖRMANN Group forecasts earnings before interest and taxes (operating EBIT) also at the previous year’s level between EUR 23 million and EUR 25 million (2022: EUR 23.7 million). The consolidated interim report for the period from January 1 to June 30, 2023 of HÖRMANN Industries GmbH is available at https://www.hoermann-gruppe.com/en/investor-relations/financial-reports/financial-publications.
Selected key financial figures of HÖRMANN Industries GmbH (in EUR million)
Contact:
Financial and business press:
About the HÖRMANN Group Since the company was founded in 1955, the HÖRMANN Group has grown steadily. Under the umbrella of HÖRMANN Holding GmbH & Co KG, around 30 subsidiaries operate in the Automotive, Communication, Engineering and Intralogistics business divisions with a high level of entrepreneurial initiative and independence. The aim of the HÖRMANN Group is to provide customers with specific solutions and services that offer economic advantages and a high level of customer benefit. To achieve this, the HÖRMANN Group, with around 2,950 highly qualified employees, uses its entire broadly diversified and networked knowledge from a wide range of technological fields.
31.08.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News – a service of EQS Group AG. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||