Hörmann Industries GmbH
​​​​​​​HÖRMANN Industries publishes financial results for the first nine months of 2022

HÖRMANN Industries publishes financial results for the first nine months of 2022

• Strong sales increase by 9.5 % to EUR 470.7 million compared to the previous year, in particular
  due to inflation-related price increases
• EBITDA and EBIT of EUR 12.5 million and EUR 3.8 million respectively below previous year
  (EBITDA: EUR 31.2 million; EBIT: EUR 22.2 million)
• Forecast for the full year 2022 confirmed

Kirchseeon, 30 November 2022 – HÖRMANN Industries GmbH (corporate bond, WKN: A2TSCH) today published its financial results for the first nine months of 2022. In the reporting period, the Group’s sales increased from EUR 430.0 million to EUR 470.7 million compared to the same period last year. However, the sales increase was mainly the result of inflation-related price increases. For example, the sales of the Automotive business division alone (9M 2022: EUR 288.7 million) include nearly EUR 30 million of material price increases that are not recognised in profit or loss. In the Communication business division, sales of EUR 117.7 million was at the level of the previous year (9M 2021: EUR 120.0 million). As a result of the establishment of the new Intralogistics division, all companies of the former Services division as well as the subsidiaries HÖRMANN Logistik GmbH, Klatt Fördertechnik GmbH, HÖRMANN Logistik Polska Sp. z o.o., and HÖRMANN Logistik Systeme GmbH from the Engineering division were integrated into the new division. With sales of EUR 15.1 million, excluding the aforementioned subsidiaries, the Engineering division is slightly below the first three quarters of the 2021 financial year (9M 2021: EUR 16.7 million, as-if). The new Intralogistics division generated sales of EUR 49.2 million in the reporting period (9M 2021: EUR 39.6 million, as-if).

Earnings before interest, taxes, depreciation and amortisation (EBITDA) of the HÖRMANN Group decreased in the reporting period to EUR 12.5 million (9M 2021: EUR 31.2 million), while operating earnings before interest and taxes (EBIT) amounted to EUR 3.8 million (9M 2021: EUR 22.2 million). The first nine months of 2022 closed with a consolidated net loss of EUR 3.4 million (9M 2021: consolidated net profit of EUR 15.3 million). The result was burdened in particular by production interruptions, price increases for material and energy purchases, and project delays due to material shortages in the Automotive business division.

Johann Schmid-Davis, CFO of HÖRMANN Industries GmbH: “Our broad positioning with four business divisions has once again provided us with a stable foundation in this so far challenging year with high inflation and supply chain disruptions. I would like to thank all our employees who have worked hard to ensure that we can announce a positive operating result after nine months. We expect that this year’s challenges will also weigh on us in the coming year, but we are confident that we will continue to develop positively in the future thanks to our four pillars.”

Forecast for the full year 2022 confirmed

At Group level, HÖRMANN Industries GmbH expects sales of around EUR 630 million (2021: EUR 589.8 million) for the full year 2022 after assessing the current order situation and business development. A positive result before interest and taxes (operating EBIT) of around EUR 20.5 million (2021: EUR 30.0 million) is targeted for the operating business. The achievement of this sales and earnings forecast is largely subject to the fulfilment of the latest call-off forecasts by our customers, the granting of price compensation by OEMs in the Automotive division, and the implementation of project orders in the Communication and Intralogistics divisions as planned, which will require timely supply of materials and completion of upstream work.

The consolidated interim report for the period from 1 January to 30 September 2022 is available at https://www.hoermann-gruppe.com/en/investor-relations/financial-reports/financial-reports.

Contact:

HÖRMANN Industries GmbH
Hauptstr. 45-47
D-85614 Kirchseeon
T +49 8091 5630 0
F +49 8091 5630 195
info@hoermann-gruppe.com

Financial and business press:

IR.on AG
Frederic Hilke
T +49 221 9140 970
hoermann@ir-on.com

About the HÖRMANN Group

The HÖRMANN Group has grown steadily since its formation in 1955. HÖRMANN Industries GmbH is the parent company of 33 subsidiaries operating in the Automotive, Communication, Intralogistics, and Engineering segments with a high degree of entrepreneurial initiative and independence. The HÖRMANN Group aims to offer its customers specific solutions and services that provide clear benefits and economic advantages. To achieve this, the HÖRMANN Group harnesses all of the broadly diversified and connected knowledge of its workforce of around 2,800 highly qualified employees across a wide range of technology areas.

www.hoermann-gruppe.com

Selected key financial figures of HÖRMANN Industries GmbH (in EUR million)
 

1) Turnover plus changes in inventories and other own work capitalised 2) Consolidated net income before depreciation and amortisation, before financial result, before income taxes, 3) Consolidated net income before financial result, before income taxes 4) Shareholders’ equity / balance sheet total, 5) Inventories plus trade receivables less trade payables, 6) Net cash and cash equivalents incl. marketable securities, less liabilities to banks 7) Average for the period excluding trainees by headcount.