ALSO Holding AG performs in a challenging environment
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ALSO Holding AG / Key word(s): Annual Results
ALSO Holding AG performs in a challenging environment
A decline in sales of around 1.4 billion euros meant that EBITDA was slightly outside the target corridor (265 to 305 million euros). The main reasons were
In the second half of 2023, this was also reflected in an increasing postponement of investments in the Commercial segment. Operational measures, new business models and markets could almost offset the resulting EBITDA impact. A positive effect could be achieved by the active management of net working capital, leading to an optimisation of free cash flow (347 million euros, +339%) and ROCE. Based on the liquidity situation and the excellent prospects for the future, the Board of Directors is proposing an increase in the dividend to shareholders for the twelfth time in a row. Gustavo Möller-Hergt, CEO of ALSO Holding AG (SIX: ALSN): "Organisations and individuals will only be able to reap the benefits of new technologies if they invest in new IT infrastructures. This fact promises the current and future success of companies operating in this environment. We will therefore continue to drive expansion into new markets and technologies with the help of our well-filled acquisition pipeline." Against this background, ALSO is increasing its short and medium-term targets.
Link to the Annual Report
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.
End of Inside Information |
1840447 20-Feb-2024 CET/CEST
