R. STAHL, with significantly improved sales and profitability in 2023, forecasts further sales growth for 2024
EQS-News: R. Stahl AG
/ Key word(s): Annual Report/Annual Results
R. STAHL, with significantly improved sales and profitability in 2023, forecasts further sales growth for 2024
Waldenburg, 17 April 2023 – R. STAHL today published its Annual Report 2023 and confirms the preliminary figures published in February. In financial year 2023, uncertainties those markets that are relevant for the company slowly eased as the year progressed and demand from key sectors remained at a high level. Because strategic measures are taking effect, the specialist for explosion protection solutions looks back on a successful financial year 2023 and has issued a positive outlook for 2024. Strong customer demand and recovery in the procurement markets ensure record figures for order intake and sales The recovery on the procurement markets and forward-looking inventory build-up resulted in strong sales growth in 2023. The recovery helped R. STAHL increase sales for full-year 2023 by 20.5% to € 330.6 million (previous year: € 274.3 million). The forecast corridor was between € 305 million and € 320 million. Because order volume once again exceeded sales in the past financial year, order backlog increased to € 115.1 million at the end of 2023 (previous year: € 109.4 million). All sales markets contributed to sales growth in 2023 Significant improvement in profitability – EBITDA pre exceptionals up 73.0% Full impairment of ZAVOD Goreltex burdens net profit The company improved free cash flow by € 4.7 million to € 0.3 million (previous year: € -4.4 million). The equity ratio fell from 27.5% in the previous year to 25.0% as of the balance sheet date, mainly due to the lower interest rate for the valuation of pension provisions. First quarter of 2024 – order intake and sales at a high level, profitability declining EBITDA pre exceptionals decreased from € 10.4 million in the previous year to € 8.4 million in the period from January to March 2024. This is primarily attributable to the implementation of the EXcelerate strategy program and higher personnel costs resulting mainly from collective bargaining agreements. R. STAHL forecasts further sales growth with stable earnings for 2024 The high order backlog that R. STAHL started 2024 with, as well as the good demand in the first quarter of 2024, mean that the company can look ahead to full-year 2024 with careful optimism. The Executive Board expects Group sales to grow to between € 335 million and € 350 million. Profitability in the current financial year should stabilize at around the high level of the previous year. A high level of investment, increasing competitive pressure and price sensitivity on the part of customers as well as rising personnel costs are likely to have a temporary negative impact on earnings development. The Executive Board expects EBITDA pre exceptionals to be between € 35 million and € 45 million in 2024 (2023: € 38.6 million). In terms of free cash flow, R. STAHL expects a medium single-digit positive million euro amount in 2024 (2023: € 0.3 million). “The very good business performance in 2023 shows that our Group strategy is working. It makes it possible for the company to make sustainable progress in terms of sales and profitability. From a current perspective, our business will not develop as dynamically in 2024 as it did in 2023. In the current year, we will once again make significant investments in the optimization of our processes, particularly in the areas of finance and IT, thus laying the groundwork for further efficiency gains in the coming years. The company is well-positioned to take advantage of the growth opportunities that are presented by our longstanding attractive markets”, says Dr. Mathias Hallmann, CEO of R. STAHL.
Key figures of R. STAHL Group for FY 2023 pursuant to IFRS
1) Exceptionals: restructuring charges, unscheduled depreciation and amortization, charges for designing and implementing IT projects, M&A costs, profit and loss from deconsolidation as well as profit and loss from the disposal of assets no longer required for business operations Percentages and figures in may include rounding differences. The signs used to indicate rates of changes are based on mathematical aspects. Rates of changes > +100% are shown as >+100%, rates of change <-100% as „n/a“ (not applicable)
Note The quarterly statement for Q1 2024 will be disclosed on 08 May 2024.
Investors’ and analysts’ conference call of R. STAHL AG for FY 2023 Chief Executive Officer of R. STAHL AG, Dr. Mathias Hallmann, will explain the results of FY 2023 and will present an outlook for the current year today at 10:00 CET. Afterwards he will be available for questions. The conference call will be held in English language. To participate (acoustically) in the conference call, please use the link below. After registration, that you may do at any time, you will receive dedicated dial-in details to easily and quickly access the call at the specified time: https://services.choruscall.it/DiamondPassRegistration/register?confirmationNumber=6969699&linkSecurityString=e1dcb6711 https://www.webcast-eqs.com/rstahl-fy-2023/no-audio A replay of the audio webcast will be available shortly after the conference call has ended on the company’s website in the section corporate > investor relations > IR news and publications (https://r-stahl.com/en/global/corporate/investor-relations/ir-news-and-publications/events-and-presentations)
Financial calendar 2024
About R. STAHL – www.r-stahl.com Typical customers are the chemical and pharmaceutical industry, the oil & gas industry - including LNG applications - as well as the food and beverage industry. Most of the R. STAHL products are also approved for use with hydrogen. In 2023 global sales amounting to around € 331 million were generated by 1,721 employees. The shares of R. STAHL AG are traded on the Regulated Market/Prime Standard of Deutsche Boerse (ISIN DE000A1PHBB5). Forward-looking statements Contact: R. STAHL AG Judith Schäuble Director Investor Relations & Corporate Communications Am Bahnhof 30 74638 Waldenburg (Württ.) Germany Tel. +49 7942 943-1396 investornews@r-stahl.com
17.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | R. Stahl AG |
Am Bahnhof 30 | |
74638 Waldenburg | |
Germany | |
Phone: | +49 (7942) 943-0 |
Fax: | +49 (7942) 943-4333 |
E-mail: | investornews@stahl.de |
Internet: | www.r-stahl.com |
ISIN: | DE000A1PHBB5 |
WKN: | A1PHBB |
Listed: | Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Tradegate Exchange |
EQS News ID: | 1881879 |
End of News | EQS News Service |
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1881879 17.04.2024 CET/CEST