Solid performance in a challenging year

   Interroll Holding AG / Key word(s): Annual Results
   Solid performance in a challenging year
   15-March-2024 / 06:30 CET/CEST
   Release of an ad hoc announcement pursuant to Art. 53 LR
   The issuer is solely responsible for the content of this
   announcement.
     ____________________________________________________________

   
     * EBIT margin 15.1% (previous year 15.8%)
     * Record free cash flow of CHF 91.1 million
     * Order intake CHF 519.7 million, -3.9% in local currencies
     * Sales CHF 556.3 million, -11.7% in local currencies
     * Stable dividend of CHF 32.00 per share proposed

   Sant'Antonino, Switzerland, March 15, 2024. Despite challenging
   market conditions, Interroll achieved good profitability margins
   in 2023. Sales decreased to CHF 556.3 million (-16.3%
   year-on-year, -11.7% in local currencies). Order intake amounted
   to CHF 519.7 million (-9.2% year-on-year, -3.9% in local
   currencies). The result decreased to CHF 66.3 million (previous
   year: CHF 82.8 million). The result margin was 11.9% (previous
   year: 12.5%).

   In 2023, we faced a particularly challenging market environment.
   However, although we experienced a slowdown, we successfully
   defended our market position, acquired new customers, and
   generated good profitability margins.

   Currency fluctuations had again a negative effect on order intake
   and sales. The negative effect on order intake was -5.3%
   (previous year: -3.1%) and on sales -4.6% (previous year: -4.2%).

   Product group development
   Consolidated sales for Rollers amounted to CHF 99.1 million
   (previous year: CHF 126.5 million). Consolidated order intake
   decreased by -14.9% to CHF 94.4 million (previous year: CHF 110.9
   million).

   Consolidated sales for the Drives product group amounted to CHF
   171.2 million (previous year: CHF 211.8 million). Consolidated
   order intake decreased by -10.7% to CHF 161.7 million compared to
   CHF 181.1 million in the previous year.

   The Conveyors & Sorters product group generated consolidated
   sales of CHF 246.5 million, compared to CHF 263.5 million in the
   previous year. At CHF 211.7 million, order intake was -8.6% below
   the previous year (CHF 231.7 million).

   The product group Pallet Handling suffered in sales but  reported
   an increase in order intake. Consolidated sales decreased by
   -36.9% to CHF 39.5 million (previous year: CHF 62.6 million) and
   consolidated order intake increased by 6.1% to CHF 51.9 million
   (previous year: CHF 48.9 million).

   Heterogenous development in the regions
   Net sales in EMEA amounted to CHF 289.7 million, down 24.3% on
   the previous year (CHF 382.9 million). Order intake decreased by
   15.0% to CHF 281.5 million compared to the previous year (CHF
   331.1 million).

   EMEA suffered the most from weaker demand but continues to be the
   most significant region for Interroll with a share of 52% of
   total sales.

   Sales in the Americas amounted to CHF 192.1 million, 13.3% lower
   than in the previous year (CHF 221.6 million). There was a 2.0%
   decline in order intake to CHF 177.3 million (previous year: CHF
   181.0 million).

   Interroll's sales in the Asia-Pacific region grew by 24.4% to CHF
   74.5 million (previous year: CHF 59.9 million). Order intake
   increased by 0.7% to CHF 60.9 million (previous year: CHF 60.5
   million). The region developed very heterogenous, were China
   suffered from a strong decrease in order intake (-25.3%) and
   sales (-24.8%), the remaining Asia-Pacific region grew order
   intake by 20.5% and sales by 66.1%. Invoicing of a major project
   received in December 2021 in South Korea (press release December
   20, 2021) contributed significantly to the growth.

   Good profitability margins in a challenging market environment
   Earnings before interest, taxes, depreciation and amortization
   (EBITDA) decreased to CHF 106.3 million (previous year: CHF 129.3
   million). The generated EBITDA margin was 19.1% (previous year:
   19.5%). Earnings before interest and taxes (EBIT) amounted to CHF
   83.9 million (previous year: CHF 105.2 million). The EBIT margin
   was 15.1% (previous year: 15.8%). The result decreased to CHF
   66.3 million (previous year: CHF 82.8 million) and the result
   margin was 11.9% (previous year: 12.5%).

   Solid balance sheet and cash flow development
   Total assets amounted to CHF 544.0 million as of December 31,
   2023, which was virtually unchanged from December 31, 2022, at
   CHF 545.9 million. Shareholder equity increased to CHF 410.8
   million; the equity ratio increased to 75.5% (end of 2022:
   72.2%). Net financial assets increased by 88.1% to CHF 133.2
   million (previous year: CHF 70.8 million).

   Operating cash flow increased by 58.5% to CHF 113.2 million
   (previous year: CHF 71.4 million) due to strong net working
   capital reduction.

   Gross investment amounted to CHF 25.1 million (previous year: CHF
   32.5 million). This includes ongoing renewal investment in our
   production facilities, extensions to our SAP system and lease
   capitalization under IFRS 16. Due to delays, some investments
   planned for 2023 will not take place until 2024 or 2025, which
   resulted in a higher operating cash flow and lower gross capital
   expenditures. The free cash flow in the reporting year reached a
   new record of CHF 91.1 million (previous year: CHF 49.2 million).

   Innovation with customer benefit
   During the year, Interroll continued to invest in the future by
   launching the new High Performance Conveyor Platform (HPP).
   Designed to be a modular solution, HPP meets the demanding
   requirements of Courier, Express, Parcel (CEP) service providers.
   Additionally, we partnered with two leading Autonomous Mobile
   Robotics (AMR) companies and launched our (AMR) Top Module based
   on our Light Good Conveyor Platform (LCP). This highlights
   Interroll's capabilities to successfully introduce its proven
   solutions into new industries such as robotics with applications
   in a wide variety of segments including logistics.

   Share price performance and dividend proposal
   With a closing price of CHF 2,670.00 on December 29, 2023, the
   Interroll share was 13.6% higher than the year-end price in 2022
   (CHF 2,350.00). Interroll therefore significantly outperformed
   the Swiss indices. The Group's market capitalization exceeded CHF
   2.2 billion.

   Due to the very strong balance sheet, a stable dividend of CHF
   32.00 per share (previous year: CHF 32.00) will be proposed to
   the Annual General Meeting on May 3, 2024.

   Outlook 2024
   We believe that the downturn has bottomed out. We are unable to
   foresee precisely when the market will rebound, but we are seeing
   positive signs in the industry. Furthermore, we anticipate a
   general improvement in market conditions as inflationary
   pressures are easing in many of our markets and interest rate
   cuts can therefore be expected over the course of this year. We
   see that the demand for automation in material flows will
   increase further due to labor shortages. These factors will
   encourage overall economic activity and thereby demand for our
   solutions.

    "We have the right product and solution portfolio in place, and
   with the organizational changes (CTO/COO), we announced last
   October, our long-term strategy is even more focused on our
   customers. As we look ahead, we remain committed to combining our
   proven technologies and innovative expertise with our firm
   customer-first mindset.  With our product portfolio,
   international presence, pricing power and breathing production
   facilities, we are ideally positioned to maximize future growth.
   All these strengths are in place and ready to help extend our
   advantage as demand returns in our markets," says Ingo
   Steinkrüger, CEO of the Interroll Group.

Development of key figures 2019-2023

In millions of CHF, unless otherwise stated


2023


2022


2021

2020

2019







Order intake/sales






Total order intake

519.7

572.6

788.4

547.8

546.5








Rollers

99.1

126.5

134.6

106.0

110.1

Drives

171.2

211.8

191.6

156.5

172.4

Conveyors & Sorters

246.5

263.5

254.0

221.5

223.2

Pallet Handling

39.5

62.6

59.8

46.6

54.0

Total sales

556.3

664.4

640.1

530.6

559.7







Profitability






EBITDA

106.3

129.3

122.5

115.4

96.1

in % of sales

19.1

19.5

19.1

21.7

17.1

EBIT

83.9

105.2

99.3

94.1

72.3

in % of sales

15.1

15.8

15.5

17.7

12.9

Result

66.3

82.8

80.6

71.7

56.0

in % of sales

11.9

12.5

12.6

13.5

10.0







Cash flow






Operating cash flow

113.2

71.4

47.3

122.9

99.6

in % of sales

20.4

10.7

7.4

23.2

17.8

Free cash flow

91.1

49.2

-0.8

74.0

66.9

in % of sales

16.4

7.4

-0.1

13.9

12.0

Total investment

25.1

32.5

51.1

51.3

33.6







Balance sheet (as of December 31)






Total assets

544.0

545.9

538.5

468.8

435.1

Goodwill

15.1

16.4

16.7

16.4

17.1

Net financial assets

133.2

70.8

46.1

92.2

76.9

Equity

410.8

394.2

345.4

312.0

304.0

Equity ratio (equity as % of assets)

75.5

72.2


64.1

66.5

69.9

Return on equity (in %)

16.5

22.4

24.5

23.3

19.0







Other key figures






RONA (return on net assets, in %)

22.6

24.5

25.4

30.4

22.6

Average number of employees

2,294

2,500

2,421

2,206

2,284

Sales per employee (in thousand CHF)

243

266

264

241

245

Productivity

2.18

2.22

2.19

2.30

2.09

____________________________________________________________

   End of Inside Information
     ____________________________________________________________

   Language:    English
   Company:     Interroll Holding AG
                Via Gorelle 3
                6594 S.Antonino
                Switzerland
   Phone:       +41 91 850 25 25
   Fax:         +41 91 850 25 55
   E-mail:      investor.relations@interroll.com
   Internet:    www.interroll.com
   ISIN:        CH0006372897
   Valor:       637289
   Listed:      SIX Swiss Exchange
   EQS News ID: 1859449

   End of Announcement EQS News Service
     ____________________________________________________________

1859449 15-March-2024 CET/CEST