ALSO confirms targets for 2024 based on H1 results
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ALSO Holding AG / Key word(s): Half Year Results
ALSO confirms targets for 2024 based on H1 results
In the first half of the year, ALSO generated revenues of 5.1 billion euros, in line with the general market trend and representing a decline of 7 per cent. This development was impacted by consumer spending restraint, particularly in Germany, Poland and the Netherlands. Operating EBITDA for the first six months totalled 106 million euros (reported: 94 million euro). This includes 12 million euros of expenditure for future growth. These include
The company achieved a cash position of 643 million euros (+31 million euros) with a free cash flow of 173 million euros. Therefore, ALSO is in an excellent position to capitalize on additional market opportunities. The targets for 2024 are confirmed due to
Wolfgang Krainz, CEO of ALSO Holding AG (SIX: ALSN), comments: "Information technology is an attractive growth industry thanks to its innovation cycles. Investments are inevitable sooner or later. Due to our financial strength and the sales focus of our management, we will achieve our short- and medium-term goals.”
Contact ALSO Holding AG Kilian Maier
ALSO Holding AG (ALSN.SW) (Emmen/Switzerland) is one of the leading technology providers for the ICT industry, currently active in 30 European countries and in a total of 144 countries worldwide via PaaS partners. The ALSO ecosystem comprises a total potential of around 135,000 resellers, to whom we offer hardware, software and IT services from more than 800 vendors in over 1,540 product categories. In the spirit of the circular economy, the company provides all services from provision to remanufacturing from a single source. The business activities comprise the areas of Supply, Solutions and Service. Supply stands for the transactional provisioning of hardware and software. Solutions supports customers in the development of customised IT solutions. Subscription-based cloud offerings as well as digital platforms for IoT, cybersecurity, virtualisation and AI are at the heart of the Service division. The main shareholder is the Droege Group, Düsseldorf, Germany. Further information can be found at https://also.com
The Droege Group (founded in 1988) is an independent investment and consulting firm under full family ownership. The company acts as a specialist for tailor-made transformation programs aiming to enhance corporate value. Droege Group combines its corporate family-run structure and capital strength into a family-equity business model. The group invests its own equity in “special opportunities” with a focus on medium-sized companies and spin-offs as well as strategically in buy & build transactions. With the guiding principle "execution - following the rules of art", the group is a pioneer in execution-oriented corporate development. Droege Group follows a focused investment strategy based on long-term oriented megatrends. Enthusiasm for quality, innovation and speed determines the company’s actions. In recent years Droege Group has successfully positioned itself in domestic and international markets and operates in 30 countries.
Disclaimer This press release contains forward-looking statements which are based on current assumptions and forecasts of the ALSO management. Known and unknown risks, uncertainties, and other factors could lead to material differences between the forward-looking statements made here and the actual development, in particular the results, financial situation, and performance of our Group. The Group accepts no responsibility for updating these forward-looking statements or adapting them to future events or developments.
Additional features: File: ALSO - H1 2024 - Presentation EN End of Inside Information |
1952569 24-Jul-2024 CET/CEST
