Preliminary earnings before interest and taxes (EBIT) and free cash flow in H1 2024 significantly above previous year’s figures, forecast for full year 2024 raised

Leifheit AG:  Preliminary earnings before interest and taxes (EBIT) and free cash flow in H1 2024 significantly above previous year’s figures, forecast for full year 2024 raised

Nassau (Germany), 15 July 2024 - Leifheit AG (ISIN DE0006464506) has further improved its profitability and, according to preliminary calculations, expects Group earnings before interest and taxes (EBIT) of EUR 7.0 million in the first half of 2024. This represents an increase of around 48% compared to the previous year’s figure (H1 2023: EUR 4.8 million). Group EBIT was mainly affected by the improvement in gross margin, positive product mix effects and increases in productivity and efficiency. This was contrasted by one-off effects due to organizational changes in sales and marketing.

The Leifheit Group achieved turnover of EUR 135.0 million in the first half of 2024 (H1 2023: EUR 138.1 million) and a free cash flow of EUR 9.9 million (H1 2023: EUR 7.6 million).

Based on the preliminary figures of the first half of 2024 the Management Board has reassessed the expectations for the full year 2024 today.

The Management Board raises the earnings forecast – despite anticipated burdens from increased container freight rates in the second half of the year – and expects now Group earnings before interest and taxes (EBIT) in the range of EUR 11 million to EUR 13 million in the financial year 2024. Previously a Group EBIT in the range of EUR 10 million to EUR 12 million was expected.

At the same time, with an expectedly stronger second half of the year, the Management Board continues to anticipate slight turnover growth in the Leifheit Group.

On this basis and in the light of planned investments in production efficiency in the second half of the year, the Management Board now estimates a free cash flow of around EUR 12 million for the full year 2024, after the previously forecast figure of around EUR 10 million.

The information on the development of the first half of 2024 is based on preliminary calculations. Therefore, there may be deviations from this information in the figures that will be published in the half-year financial report on 8 August 2024 at https://www.leifheit-group.com/en/investor-relations/reports-and-presentations/.