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EQS-News: Einhell Germany AG / Key word(s): Quarterly / Interim Statement
Successful start to the year: Einhell increases revenue and earnings in the first quarter of 2024
2024-05-22 / 11:02 CET/CEST
The issuer is solely responsible for the content of this announcement.
Successful start to the year: Einhell increases revenue and earnings in the first quarter of 2024
Landau a. d. Isar, 22 May 2024 - The first quarter of the current financial year has been very successful for the
Einhell Group. The company achieved revenue of EUR 269.5 million (previous year: EUR 249.9 million) in the quarter from
January to March 2024. Earnings before taxes (EBT) increased by 11.3 percent to EUR 22.6 million (previous year: EUR
20.3 million). The pre-tax margin amounted to 8.4 percent (previous year: 8.1 percent). Growth was particularly strong
in the D/A/CH region: Revenue in the D/A/CH region increased by EUR 9.6 million to EUR 109.5 million in the first
quarter of the 2024 financial year.
Power X-Change continues growth trajectory
"We achieved a very positive performance in the first quarter of 2024. Our strategy of consistently focusing on the
expansion of our successful Power X-Change product range is paying off," says Andreas Kroiss, CEO of Einhell Germany
AG. Einhell is one of the leading suppliers in the DIY sector, offering innovative battery-powered tools of the highest
quality at excellent value for money. The share of revenue in the D/A/CH region generated with the cordless Power
X-Change tools increased significantly from 49 percent in the previous year to 62 percent. On a global basis, the share
rose from 41 percent to around 50 percent. The cordless Power X-Change product range currently comprises more than 300
battery-powered tools and garden appliances. By 2027, the Einhell Group expects to have around 450 products on the
market that can be powered by a single type of battery.
Significant reduction in liabilities to banks and reduction in inventories
The strong earnings and the reduction in inventories from EUR 414.9 million to EUR 341.4 million led to a significant
decrease in current liabilities to banks in the first quarter of 2024 compared to the prior-year period. After having
stocked up during the COVID-19 pandemic to ensure their ability to deliver, customers reduced their inventories as
planned as supply chain management has returned to normal. The Group's liquidity also benefited from the supply chain
finance structures introduced in China last year.
Strategic brand partnerships
In order to further increase awareness of the Einhell brand, the company will continue to strengthen its marketing
measures in the current financial year. The cooperation with the Mercedes-AMG PETRONAS F1 team is a key element of this
strategy. Einhell and Mercedes are united in this partnership as two strong international brands that represent the
best of technological finesse. The cooperation with the Mercedes-AMG PETRONAS F1 Team also has a positive impact
internationally in terms of awareness and image of the Einhell brand. In addition, the Einhell Group will further
intensify its cooperation with the FC Bayern Munich football club, underpinned by wide-ranging international marketing
campaigns.
Focus on international expansion
"Our international expansion is one of our most important strategic drivers," says Andreas Kroiss. "With the
acquisition of our subsidiaries in Thailand and Vietnam in 2023, we have been able to enter promising markets whose
economic potential we consider to be very high." As such, the Einhell Group is planning to set up a supplier industrial
park with strategic partners in Vietnam over the next few years. In addition, the company in Thailand will be further
integrated into the existing structure of the Einhell Group. In the USA, the Board of Directors continues to look for
suitable takeover candidates. As the largest DIY market in the world, the USA offers great potential for Einhell's
successful Power X-Change platform.
Outlook for financial year 2024
"The market environment continues to be challenging in financial year 2024. In spite of the current difficult
macroeconomic context, we are optimistic with regard to our performance in the current year," says CEO Andreas Kroiss.
"In numerous countries, we have succeeded in winning new customers, who have added the Einhell brand to their listings.
This provides an excellent basis for revenue growth in the current financial year, especially if the macroeconomic
situation improves."
The Board of Directors expects revenue growth of approx. 6 percent in financial year 2024 compared to the previous
year. In terms of earnings before taxes, the Einhell Group expects a margin of around 7.5 to 8.0 percent.

About Einhell Germany AG
Einhell is a leading manufacturer of state-of-the-art tools and equipment for the house and garden and will be
celebrating its 60th anniversary in 2024. From its headquarters in Landau/Isar (Bavaria), the internationally
successful company has continuously expanded its innovative rechargeable battery platform Power X-Change and is now the
market leader in the area of cordless tools and garden equipment. For many years Einhell has set new standards in terms
of endurance, performance, and safety. Einhell customers appreciate the freedom of cordless operation for all their DIY
projects, as well as the excellent value for money that Einhell products represent and the first-class customer service
offered by the company.



2024-05-22 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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Language:     English 
Company:      Einhell Germany AG 

Wiesenweg 22
94405 Landau/Isar
Germany

Phone:        +49 (0)9951-942-166 
E-mail:       helmut.angermeier@einhell.com 
Internet:     www.einhell.com 
ISIN:         DE0005654933, DE0005654909 
WKN:          565493, 565490 
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, 

Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1908775

End of News EQS News Service
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1908775 2024-05-22 CET/CEST

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END) Dow Jones Newswires

May 22, 2024 05:03 ET (09:03 GMT)