SLR Group publishes Q4 23/24 results and preliminary figures for the full year 23/24

SLR Group publishes Q4 23/24 results and preliminary figures for the full year 23/24

• Net Sales of EUR 57.1 million in Q4 23/24 in line with expectations
• Adjusted EBITDA margin of 10.7% thanks to measures introduced to improve earnings
• Focus on expanding relationships with blue chip customers and measures to reduce costs and increase efficiency
• Forecast for financial year 24/25: total production and sold tonnage expected to be in the range of 100 to 110 kilotons per year and thus slightly below the level of financial year 23/24  

St. Leon-Rot, August 30, 2024 - SLR Group GmbH, a leading supplier of high-quality cast iron components, publishes its figures for the fourth quarter 23/24 as well as preliminary unaudited figures for the financial year 23/24.

Net sales fell by 24% to EUR 57.1 million in Q4 23/24 compared to the same period of the previous year (Q4 22/23: EUR 75.1 million). For the full year, the SLR Group thus generated net sales of EUR 234.7 million (FY 22/23: EUR 287.7 million). Sold tonnage fell by 14% to 28.6 kilotons in the fourth quarter of FY 23/24 after 33.1 kilotons in the same period of the previous year. In financial year 23/24, this resulted in an overall decrease of 12% to 114.2 kilotons (FY 22/23: 129.5 kilotons). The decline in net sales and tons sold is due to a general economic slowdown in the agricultural and construction sectors, the company's core segments.

On the earnings side, the SLR Group achieved an adjusted EBITDA of EUR 6.1 million in Q4 23/24, a decrease of 46% compared to the same quarter of the previous year (Q4 22/23: EUR 11.3 million). Accordingly, the adjusted EBITDA margin amounted to 10.7% (FY 22/23: 15.0%). Adjusted EBITDA for the financial year 23/24 totaled EUR 24.6 million (FY 22/23: EUR 36.3 million).

Gunnar Halden, CFO of the SLR Group, explained: "As SLR, we are currently facing challenging market conditions in our core segments, which are reflected in lower order volumes. We introduced measures to improve earnings at an early stage, which have already had an initial impact. As a result, we succeeded in achieving a double-digit adjusted EBITDA margin in Q4 23/24. We will consistently continue our initiatives to further reduce our fixed costs and adapt our structures to the changed conditions in the best possible way."

For the current financial year 24/25, the SLR Group expects total production and sold tonnage to be in the range of 100 to 110 kilotons per year, slightly below the figures for the financial year 2023/2024.

Jörg Rumikewitz, CEO of the SLR Group, believes the company is well positioned: "We are currently experiencing restraint in sectors that are important to us, and this will continue for the time being in the current financial year. However, our core markets are fundamentally intact and promise attractive long-term growth opportunities. As a specialist in customised ductile iron components, we are able to meet the individual requirements of our customers very well. We want to further strengthen our long-term relationships with our blue-chip customers and add new customers."

The report for the fourth quarter of 23/24 is now available on the company website at slr-gruppe.de/en//investor-relations. The company will publish the complete, audited figures for the financial year 23/24 on October 30, 2024.


About SLR Group

SLR Group, headquartered in St. Leon-Rot, Germany, is a leading producer of high-quality cast iron components used mainly in large off-highway agricultural and infrastruc-ture/construction machinery. Founded in 1970, SLR today operates four state-of-the-art, fully invested manufacturing facilities in Germany, Hungary and the Czech Republic. The Group acts as a full-service provider for its customers, spanning from development and tool manufacturing to casting all the way to the machined component. SLR enjoys a blue-chip customer base with entrenched single-source relationships spread over Europe and North America, with main customers including market leading OEMs and Tier 1 vendors. In the 2023/2024 financial year, the SLR Group generated net sales of around EUR 234.7 million. At the end of last year, the company employed 758 people (HC). SLR Group GmbH has issued a Nordic bond with a volume of EUR 75 million, which is listed on the Open Market of the Frankfurt Stock Exchange.


IR contact

cometis AG
Thorben Burbach
Unter den Eichen 7 | Building D
65195 Wiesbaden
Germany
Phone: +49(0)611 - 205855-23
E-mail: burbach@cometis.de