R. STAHL, with significantly improved sales and profitability in 2023,
forecasts further sales growth for 2024

EQS-News: R. Stahl AG / Key word(s): Annual Report/Annual Results
R. STAHL, with significantly improved sales and profitability in 2023,
forecasts further sales growth for 2024

17.04.2024 / 07:00 CET/CEST
The issuer is solely responsible for the content of this announcement.

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R. STAHL, with significantly improved sales and profitability in 2023,
forecasts further sales growth for 2024

  * R. STAHL published its Annual Report 2023 today and confirmed the
    preliminary figures: order intake increased to EUR 342.5 million (+9.3%),

Group sales to EUR 330.6 million (+20.5%) and EBITDA pre exceptionals to EUR 38.6 million (+73.0%)

  * Full impairment of the investment in ZAVOD Goreltex results in a decline
    in net income to EUR 0.2 million (previous year: EUR 1.9 million)

  * R. STAHL sales and order intake at a good level in the first quarter of
    2024 - EBITDA pre exceptionals below previous year

  * For full year 2024, the Executive Board expects sales to increase to
    between EUR 335 million and EUR 350 million and EBITDA pre exceptionals to
    between EUR 35 million and EUR 45 million

Waldenburg, 17 April 2023 - R. STAHL today published its Annual Report 2023
and confirms the preliminary figures published in February. In financial
year 2023, uncertainties those markets that are relevant for the company
slowly eased as the year progressed and demand from key sectors remained at
a high level. Because strategic measures are taking effect, the specialist
for explosion protection solutions looks back on a successful financial year
2023 and has issued a positive outlook for 2024.

Strong customer demand and recovery in the procurement markets ensure record
figures for order intake and sales
R. STAHL kicked off 2023 with a strong order intake and managed to maintain
this level of momentum over the course of the year. The company recorded
strong demand from the LNG and gas industry as well as from the
pharmaceutical sector. In the chemical industry, there was a drop in demand
towards the middle of the year, particularly in Germany and Europe. But the
specialist for explosion protection solutions increased order intake by 9.3%
to EUR 342.5 million in 2023 compared to the already high figure in the
previous year (EUR 313.5 million).

The recovery on the procurement markets and forward-looking inventory
build-up resulted in strong sales growth in 2023. The recovery helped R.
STAHL increase sales for full-year 2023 by 20.5% to EUR 330.6 million
(previous year: EUR 274.3 million). The forecast corridor was between EUR 305
million and EUR 320 million. Because order volume once again exceeded sales in
the past financial year, order backlog increased to EUR 115.1 million at the
end of 2023 (previous year: EUR 109.4 million).

All sales markets contributed to sales growth in 2023
In Germany, sales improved by 16.3% to EUR 83.5 million in the past financial
year due to the strong market position in the chemical and pharmaceutical
industries. Sales in the Central region (Africa and Europe excluding
Germany) climbed by 24.8 % to EUR 146.8 million. In addition to the chemical
and pharmaceutical industries, the main sales driver was stronger demand
from the oil and gas sector, particularly LNG. Markets in America continued
to benefit from the ongoing strong order situation in the oil and gas
sector. Sales improved by 8.6% to EUR 34.3 million, despite the strong
increase in the previous year. In the Asia/Pacific region, sales were up
23.7% to EUR 65.9 million. Higher demand from wholesalers for shipbuilding and
module engineering contributed to the increase in sales.

Significant improvement in profitability - EBITDA pre exceptionals up 73.0%
In addition to the high demand, good utilization of production capacities
and targeted cost management, particularly in the areas of personnel and
purchasing, had a positive impact on the company's profitability. Price
increases imposed on the customer side also compensated for higher
procurement prices. Earnings before interest, taxes, depreciation and
amortization (EBITDA) pre exceptionals rose by 73.0% from EUR 22.3 million in
the previous year to EUR 38.6 million and were thus at the upper end of the
forecast range that was raised in November 2023 (EUR 35 million to EUR 40
million). The company increased its profitability as measured by the EBITDA
margin from 8.1% in the previous year to 11.7%.

Full impairment of ZAVOD Goreltex burdens net profit
Because the Executive Board at the end of February 2024 no longer assumed
that R. STAHL AG's investment in the Russian company ZAVOD Goreltex Co.
LTD., St. Petersburg, was recoverable due to various developments, the 25%
stake in ZAVOD Goreltex was fully impaired. In financial year 2023, this led
to a non-cash charge of EUR 15.4 million on the R. STAHL Group's net profit.
The bottom line was a net profit of EUR 0.2 million (previous year: EUR 1.9
million). This corresponds to earnings per share of EUR 0.03 (previous year: EUR
0.30).

The company improved free cash flow by EUR 4.7 million to EUR 0.3 million
(previous year: EUR -4.4 million). The equity ratio fell from 27.5% in the
previous year to 25.0% as of the balance sheet date, mainly due to the lower
interest rate for the valuation of pension provisions.

First quarter of 2024 - order intake and sales at a high level,
profitability declining
Demand for R. STAHL's products and services gained steam again in the first
quarter of 2024 after a subdued fourth quarter of 2023. Based on preliminary
figures, the company improved its order intake in the first quarter of 2024
by 8.5% to EUR 84.7 million (previous year: EUR 78.1 million). At EUR 92.3
million, order intake recovered significantly compared to the previous
quarter (Q4 2023: EUR 74.5 million) and was only slightly below the very high
prior-year figure of EUR 96.7 million.

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 is primarily
attributable to the implementation of the EXcelerate strategy program and
higher personnel costs resulting mainly from collective bargaining
agreements.

R. STAHL forecasts further sales growth with stable earnings for 2024
For 2024, the company expects further growth in the relevant key markets
based on the overall economic and industry-specific forecasts. There are
still uncertainties in the forecast, primarily due to the unpredictable
developments and consequences of geopolitical tension, which could have an
impact on supply chains and commodity prices.

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.

Profitability in the current financial year should stabilize at around the
high level of the previous year. A high level of investment, increasing
competitive pressure and 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).

"The very good business performance in 2023 shows that our Group strategy is
working. It makes it possible for the company to make sustainable progress
in terms of sales and profitability. From a current perspective, our
business will not develop as dynamically in 2024 as it did in 2023. In the
current year, we will once again make significant investments in the
optimization of our processes, particularly in the areas of finance and IT,
thus laying the groundwork for further efficiency gains in the coming years.
The company is well-positioned to take advantage of the growth opportunities
that are presented by our longstanding attractive markets", says Dr. Mathias
Hallmann, CEO of R. STAHL.

Key figures of R. STAHL Group for FY 2023 pursuant to IFRS

    EUR million                                2023   2022  Change  Change
                                                           in EURm    in %
    Sales                                   330.6  274.3   +56.3   +20.5
    Order income                            342.5  313.5   +29.0    +9.3
    Order backlog as of 31 December         115.1  109.4    +5.7    +5.2
    EBITDA pre exceptionals1)                38.6   22.3   +16.3   +73.0
    in % of sales                           11.7%   8.1%
    EBIT                                     19.1    3.9   +15.2   >+100
    Net profit                                0.2    1.9   -10.7   -90.6
    Earnings per share (in EUR)                0.03   0.30   -0.27   -90.0
    Dividend per share (in EUR)                   0      0       0
    Cash flow from operating activities      14.2    6.0    +8.2   >+100
    Free Cash flow                            0.3   -4.4    +4.7     n/a
    Depreciation and amortization            17.5   16.7    +0.8    +4.7
    Capital expenditures2)                   13.9   14.1    -0.2    -1.0
    Balance sheet total of 31 December      271.4  259.7   +11.7    +4.5
    Shareholders' equity as of 31 December   67.7   71.3    -3.6    -5.1
    Equity ratio as of 31. December         25.0%  27.5%
    Net debt as of 31 December.3)            38.8   29.2    +9.6   +32.9
    Employees as of 31 December4)           1,721  1,676     +45    +2.7

1) Exceptionals: restructuring charges, unscheduled depreciation and
amortization, charges for designing and implementing IT projects, M&A costs,
profit and loss from deconsolidation as well as profit and loss from the
disposal of assets no longer required for business operations
2) Payments for investments in intangible assets and property, plant &
equipment
3) Cash and cash equivalents less interest-bearing loans
4) 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 Annual Report 2023 as well as the magazine for the Annual Report 2023
'Successful. Together. Safely.' are available for download under the
following link (Corporate - Investor Relations - IR News and Publications -
Financial Reports):
https://r-stahl.com/en/global/corporate/investor-relations/ir-news-and-publications/financial-reports.

The quarterly statement for Q1 2024 will be disclosed on 08 May 2024.


Investors' and analysts' conference call of R. STAHL AG for FY 2023

Chief Executive Officer of R. STAHL AG, Dr. Mathias Hallmann, will explain
the results of FY 2023 and will present an outlook for the current year

today at 10:00 CET.

Afterwards he will be available for questions. The conference call will be
held in English language.

To participate (acoustically) in the conference call, please use the link
below. After registration, that you may do at any time, you will receive
dedicated dial-in details to easily and quickly access the call at the
specified time:

https://services.choruscall.it/DiamondPassRegistration/register?confirmationNumber=6969699&linkSecurityString=e1dcb6711

Along with the conference call, we will provide the presentation (visually
only) through an online webinar. Please log on as a participant on the
following website (no password required); this link is provided to you again
with the dial-in details for the conference call:

https://www.webcast-eqs.com/rstahl-fy-2023/no-audio

A replay of the audio webcast will be available shortly after the conference
call has ended on the company's website in the section corporate > investor
relations > IR news and publications (
https://r-stahl.com/en/global/corporate/investor-relations/ir-news-and-publications/events-and-presentations)

Financial calendar 2024
08 May Quarterly Statement Q1 2024
27 June 31st Annual General Meeting
08 August Interim Report H1 2024
06 November 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


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17.04.2024 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.

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   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:    1881879

End of News EQS News Service
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1881879 17.04.2024 CET/CEST