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08.05.2024 07:31:08 - dpa-AFX: EQS-News: R. STAHL sales and order intake at a high level in the first quarter of 2024 (english)
R. STAHL sales and order intake at a high level in the first quarter of 2024
EQS-News: R. Stahl AG / Key word(s): Quarterly / Interim Statement/Quarter
Results
R. STAHL sales and order intake at a high level in the first quarter of 2024
08.05.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
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R. STAHL sales and order intake at a high level in the first quarter of 2024
* Sales up 8.5% year-on-year to EUR 84.7 million from January to March.
Waldenburg, 10 May 2024 - R. STAHL got off to a strong start in financial
year 2024. Demand for the company's products and services picked up again in
nearly all regions and sectors in the first quarter of 2024, after
development in the fourth quarter of 2023 was somewhat subdued.
Order intake of EUR 92.3 million at a high level - order backlog increases to
EUR 122.0 million
The increased willingness on the part of customers to invest led to an order
intake of EUR 92.3 million from January to March 2024. Although this figure
was down 4.6% on the high prior-year figure of EUR 96.7 million, it was
significantly higher than the order volume for the fourth quarter of 2023 (EUR
74.5 million). While the order situation in the Central region (Africa,
Europe not including Germany) remained virtually unchanged in the first
quarter compared to the previous year, the order volume in Germany (-10.6%),
the Americas
(-6.2%) and Asia/Pacific (-7.3%) fell. Order intake from the chemical
industry in particular slowed compared to the previous year. There was
positive momentum from all other customer sectors, however. As a result of
the overall good demand in the first three months of 2024, order backlog
increased to EUR 122.0 million as of 31 March (31 December 2023: EUR 115.1
million).
International regions push 8.5% growth in sales to EUR 84.7 million
Easing bottlenecks in supply chains led to higher utilization of production
capacities in the first quarter of 2024. The key sales drivers included
orders from the nuclear sector, shipbuilding and the oil industry. Overall,
R. STAHL increased its sales by 8.5% to EUR 84.7 million from January to March
2024. The main contributors to this increase were the Americas region with
growth of 26.4% and the Central region (Africa, Europe not including
Germany) with growth of 18.2%. Sales in Germany, on the other hand, declined
slightly (-8.1%), while sales in Asia/Pacific remained virtually unchanged
(+1.2%).
At EUR 8.4 million, EBITDA pre exceptionals was below the previous year's
strong figure of EUR 10.4 million due to high one-time items
Despite an increase in the company's total operating performance, EBITDA pre
exceptionals decreased from EUR 10.4 million in the previous year to EUR 8.4
million in the period from January to March 2024. This was mainly due to
one-time items resulting from the implementation of the EXcelerate strategy
program and higher personnel costs, mainly due to collective bargaining
agreements. Profitability as measured by the EBITDA margin pre exceptionals
decreased from the extraordinarily strong figure of 13.3% in the previous
year to 9.9%. Net profit decreased from EUR 3.9 million to EUR 2.1 million. This
corresponds to earnings per share of EUR 0.33 (previous year: EUR 0.60).
The increased volume of business from January to March led to an increase in
inventories and thus to an increase in working capital of EUR -7.4 million.
This was, however, below the previous year's figure of EUR -15.3 million. This
had a positive impact on free cash flow, which at EUR -4.3 million was EUR 4.4
million higher than in the previous year (Q1 2023:
EUR -8.7 million). The equity ratio of 25.1% was slightly improved (31
December 2023: 25.0%).
Good first quarter 2024 confirms outlook for full-year 2024
For 2024, the company expects further growth in the relevant key markets
based on the overall economic and industry-specific forecasts.
The high order backlog that R. STAHL started 2024 with, as well as the good
demand in the first quarter of 2024, mean that the company can look ahead to
full-year 2024 with careful optimism. The Executive Board expects Group
sales to grow to between EUR 335 million and EUR 350 million (2023: EUR 330.6
million).
Profitability in the current financial year should stabilize at around the
very good level of the previous year. A high level of investment for
additional growth, increasing price sensitivity on the part of customers as
well as rising personnel costs are likely to have a temporary negative
impact on earnings development. The Executive Board expects EBITDA pre
exceptionals to be between EUR 35 million and EUR 45 million in 2024 (2023: EUR
38.6 million). In terms of free cash flow, R. STAHL expects a medium
single-digit positive million euro amount in 2024 (2023: EUR 0.3 million).
"There was a noticeable recovery in demand for R. STAHL products in the
first quarter. This makes us confident that, with the strategy we are
pursuing, we will continue to grow and generate stable earnings in 2024",
says Dr. Mathias Hallmann, CEO of R. STAHL.
Key figures of R. STAHL Group for Q1 2024 pursuant to IFRS
1) Africa and Europe without Germany
2) Exceptionals: restructuring charges, unscheduled depreciation and
amortization, charges for designing and implementing IT projects, M&A costs,
gains and losses from deconsolidation processes as well as profit and loss
from the disposal of assets no longer required for business operations
3) Payments for investments in intangible assets and property, plant &
equipment
4) excl. pension provisions and without lease liabilities
5) excl. apprentices
Percentages and figures in may include rounding differences. The signs used
to indicate rates of changes are based on mathematical aspects. Rates of
changes > +100% are shown as >+100%, rates of change <-100% as "n/a" (not
applicable)
Note
The quarterly statement Q1 2024 is available for download under the
following link:
https://r-stahl.com/en/global/corporate/investor-relations/ir-news-and-publications/financial-reports
Financial calendar
27 June 2024 31st Annual General Meeting
8 August 2024 Interim Report H1 2024
6 November 2024 Quarterly Statement Q3 2024
About R. STAHL - www.r-stahl.com
R. STAHL is the world's leading supplier of electrical and electronic
products and systems for explosion protection. These products and systems
prevent explosions in hazardous areas and contribute to the safety of
people, machines and the environment. The portfolio ranges from products
used in switching/distributing, installing, operating/monitoring, lighting
and signaling/alarming up to automation.
Typical customers are the chemical and pharmaceutical industry, the oil &
gas industry - including LNG applications - as well as the food and beverage
industry. Most of the R. STAHL products are also approved for use with
hydrogen. In 2023 global sales amounting to around EUR 331 million were
generated by 1,721 employees. The shares of R. STAHL AG are traded on the
Regulated Market/Prime Standard of Deutsche Boerse (ISIN DE000A1PHBB5).
Forward-looking statements
This release contains forward-looking statements based on assumptions and
estimates of R. STAHL's management. Although we assume that the expectations
of these forward-looking statements are realistic, we cannot guarantee that
these expectations will prove to be correct. The assumptions may involve
risks and uncertainties that could cause the actual results to differ
materially from the forward-looking statements. Factors that may cause such
discrepancies include: changes in the macroeconomic and business
environment, exchange rate and interest rate fluctuations, the roll-out of
competing products, a lack of acceptance of new products or services, and
changes in business strategy. R. STAHL does not plan to update these
forward-looking statements nor does it accept any obligation to do so.
Contact:
R. STAHL AG
Judith Schäuble
Director Investor Relations & Corporate Communications
Am Bahnhof 30
74638 Waldenburg (Württ.)
Germany
Tel. +49 7942 943-1396
investornews@r-stahl.com
---------------------------------------------------------------------------
08.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
---------------------------------------------------------------------------
End of News EQS News Service
---------------------------------------------------------------------------
1897865 08.05.2024 CET/CEST
EQS-News: R. Stahl AG / Key word(s): Quarterly / Interim Statement/Quarter
Results
R. STAHL sales and order intake at a high level in the first quarter of 2024
08.05.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
R. STAHL sales and order intake at a high level in the first quarter of 2024
* At EUR 92.3 million, order intake in the first quarter of 2024 were close
to the extremely high level of the previous year (EUR 96.7 million) and
significantly higher than the figure for the fourth quarter of 2023 (EUR
74.5 million).
* Sales up 8.5% year-on-year to EUR 84.7 million from January to March.
* One-time items push profitability below the strong figure from the
previous year EBITDA pre exceptionals decreased from EUR 10.4 million in
the previous year to EUR 8.4 million in the first three months of 2024.
This resulted in an EBITDA margin pre exceptionals of 9.9% (previous
year: 13.3 %).
* For 2024, R. STAHL expects sales to increase to between EUR 335 million
and EUR 350 million and EBITDA pre exceptionals of between EUR 35 million
and EUR 40 million.
Waldenburg, 10 May 2024 - R. STAHL got off to a strong start in financial
year 2024. Demand for the company's products and services picked up again in
nearly all regions and sectors in the first quarter of 2024, after
development in the fourth quarter of 2023 was somewhat subdued.
Order intake of EUR 92.3 million at a high level - order backlog increases to
EUR 122.0 million
The increased willingness on the part of customers to invest led to an order
intake of EUR 92.3 million from January to March 2024. Although this figure
was down 4.6% on the high prior-year figure of EUR 96.7 million, it was
significantly higher than the order volume for the fourth quarter of 2023 (EUR
74.5 million). While the order situation in the Central region (Africa,
Europe not including Germany) remained virtually unchanged in the first
quarter compared to the previous year, the order volume in Germany (-10.6%),
the Americas
(-6.2%) and Asia/Pacific (-7.3%) fell. Order intake from the chemical
industry in particular slowed compared to the previous year. There was
positive momentum from all other customer sectors, however. As a result of
the overall good demand in the first three months of 2024, order backlog
increased to EUR 122.0 million as of 31 March (31 December 2023: EUR 115.1
million).
International regions push 8.5% growth in sales to EUR 84.7 million
Easing bottlenecks in supply chains led to higher utilization of production
capacities in the first quarter of 2024. The key sales drivers included
orders from the nuclear sector, shipbuilding and the oil industry. Overall,
R. STAHL increased its sales by 8.5% to EUR 84.7 million from January to March
2024. The main contributors to this increase were the Americas region with
growth of 26.4% and the Central region (Africa, Europe not including
Germany) with growth of 18.2%. Sales in Germany, on the other hand, declined
slightly (-8.1%), while sales in Asia/Pacific remained virtually unchanged
(+1.2%).
At EUR 8.4 million, EBITDA pre exceptionals was below the previous year's
strong figure of EUR 10.4 million due to high one-time items
Despite an increase in the company's total operating performance, EBITDA pre
exceptionals decreased from EUR 10.4 million in the previous year to EUR 8.4
million in the period from January to March 2024. This was mainly due to
one-time items resulting from the implementation of the EXcelerate strategy
program and higher personnel costs, mainly due to collective bargaining
agreements. Profitability as measured by the EBITDA margin pre exceptionals
decreased from the extraordinarily strong figure of 13.3% in the previous
year to 9.9%. Net profit decreased from EUR 3.9 million to EUR 2.1 million. This
corresponds to earnings per share of EUR 0.33 (previous year: EUR 0.60).
The increased volume of business from January to March led to an increase in
inventories and thus to an increase in working capital of EUR -7.4 million.
This was, however, below the previous year's figure of EUR -15.3 million. This
had a positive impact on free cash flow, which at EUR -4.3 million was EUR 4.4
million higher than in the previous year (Q1 2023:
EUR -8.7 million). The equity ratio of 25.1% was slightly improved (31
December 2023: 25.0%).
Good first quarter 2024 confirms outlook for full-year 2024
For 2024, the company expects further growth in the relevant key markets
based on the overall economic and industry-specific forecasts.
The high order backlog that R. STAHL started 2024 with, as well as the good
demand in the first quarter of 2024, mean that the company can look ahead to
full-year 2024 with careful optimism. The Executive Board expects Group
sales to grow to between EUR 335 million and EUR 350 million (2023: EUR 330.6
million).
Profitability in the current financial year should stabilize at around the
very good level of the previous year. A high level of investment for
additional growth, increasing price sensitivity on the part of customers as
well as rising personnel costs are likely to have a temporary negative
impact on earnings development. The Executive Board expects EBITDA pre
exceptionals to be between EUR 35 million and EUR 45 million in 2024 (2023: EUR
38.6 million). In terms of free cash flow, R. STAHL expects a medium
single-digit positive million euro amount in 2024 (2023: EUR 0.3 million).
"There was a noticeable recovery in demand for R. STAHL products in the
first quarter. This makes us confident that, with the strategy we are
pursuing, we will continue to grow and generate stable earnings in 2024",
says Dr. Mathias Hallmann, CEO of R. STAHL.
Key figures of R. STAHL Group for Q1 2024 pursuant to IFRS
EUR million Q1 2024 Q1 2023 Change
in %
Sales 84.7 78.1 +8.5
Germany 20.2 22.0 -8.1
Central region1) 40.0 33.8 +18.2
Americas 10.7 8.0 +26.4
Asia/Pacific 14.4 14.3 +1.2
Order income 92.3 96.7 -4.6
Order backlog as of 31 March 122.0 125.7 -2.9
EBITDA pre exceptionals2) 8.4 10.4 -18.9
in % of sales 9.9% 13.3%
EBITDA 8.3 10.3 -19.2
EBIT 4.1 6.1 -33.4
Net profit 2.1 3.9 -45.2
Earnings per share (in EUR) 0.33 0.60 -45.0
Cashflow from operating activities -0.7 -5.5 +87.3
Free Cashflow -4.3 -8.7 +50.7
Depreciation and amortization 4.3 4.2 +1.3
Capital expenditures3) 3.6 3.1 +13.8
31 March 31 Dec.
2024 2023
Balance sheet total 279.9 271.4 +3.1
Shareholders' equity 70.1 67.7 +3.5
Equity ratio 25.1% 25.0%
Net financial liabilities4) 44.2 38,8 +14.0
Net financial liabilities incl. lease 60.5 55,4 +9.2
liabilities
Employees5) 1,743 1,721 +1.3
1) Africa and Europe without Germany
2) Exceptionals: restructuring charges, unscheduled depreciation and
amortization, charges for designing and implementing IT projects, M&A costs,
gains and losses from deconsolidation processes as well as profit and loss
from the disposal of assets no longer required for business operations
3) Payments for investments in intangible assets and property, plant &
equipment
4) excl. pension provisions and without lease liabilities
5) excl. apprentices
Percentages and figures in may include rounding differences. The signs used
to indicate rates of changes are based on mathematical aspects. Rates of
changes > +100% are shown as >+100%, rates of change <-100% as "n/a" (not
applicable)
Note
The quarterly statement Q1 2024 is available for download under the
following link:
https://r-stahl.com/en/global/corporate/investor-relations/ir-news-and-publications/financial-reports
Financial calendar
27 June 2024 31st Annual General Meeting
8 August 2024 Interim Report H1 2024
6 November 2024 Quarterly Statement Q3 2024
About R. STAHL - www.r-stahl.com
R. STAHL is the world's leading supplier of electrical and electronic
products and systems for explosion protection. These products and systems
prevent explosions in hazardous areas and contribute to the safety of
people, machines and the environment. The portfolio ranges from products
used in switching/distributing, installing, operating/monitoring, lighting
and signaling/alarming up to automation.
Typical customers are the chemical and pharmaceutical industry, the oil &
gas industry - including LNG applications - as well as the food and beverage
industry. Most of the R. STAHL products are also approved for use with
hydrogen. In 2023 global sales amounting to around EUR 331 million were
generated by 1,721 employees. The shares of R. STAHL AG are traded on the
Regulated Market/Prime Standard of Deutsche Boerse (ISIN DE000A1PHBB5).
Forward-looking statements
This release contains forward-looking statements based on assumptions and
estimates of R. STAHL's management. Although we assume that the expectations
of these forward-looking statements are realistic, we cannot guarantee that
these expectations will prove to be correct. The assumptions may involve
risks and uncertainties that could cause the actual results to differ
materially from the forward-looking statements. Factors that may cause such
discrepancies include: changes in the macroeconomic and business
environment, exchange rate and interest rate fluctuations, the roll-out of
competing products, a lack of acceptance of new products or services, and
changes in business strategy. R. STAHL does not plan to update these
forward-looking statements nor does it accept any obligation to do so.
Contact:
R. STAHL AG
Judith Schäuble
Director Investor Relations & Corporate Communications
Am Bahnhof 30
74638 Waldenburg (Württ.)
Germany
Tel. +49 7942 943-1396
investornews@r-stahl.com
---------------------------------------------------------------------------
08.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
---------------------------------------------------------------------------
Language: English
Company: R. Stahl AG
Am Bahnhof 30
74638 Waldenburg
Germany
Phone: +49 (7942) 943-0
Fax: +49 (7942) 943-4333
E-mail: investornews@stahl.de
Internet: www.r-stahl.com
ISIN: DE000A1PHBB5
WKN: A1PHBB
Listed: Regulated Market in Frankfurt (Prime Standard),
Stuttgart; Regulated Unofficial Market in Berlin,
Dusseldorf, Hamburg, Munich, Tradegate Exchange
EQS News ID: 1897865
End of News EQS News Service
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1897865 08.05.2024 CET/CEST
| Name | WKN | Börse | Kurs | Datum/Zeit | Diff. | Diff. % | Geld | Brief | Erster | Schluss | |
|---|---|---|---|---|---|---|---|---|---|---|---|
 |
R. STAHL AG NA O.N. | A1PHBB | Frankfurt | 20,600 | 24.05.24 17:14:32 | ±0,000 | ±0,00% | 0,000 | 0,000 | 20,600 | 20,600 |
