- Nachrichtendetail
-
30.04.2024 10:30:24 - dpa-AFX: EQS-News: HÖRMANN Industries publishes annual financial statements for 2023 (english)
HÖRMANN Industries publishes annual financial statements for 2023
EQS-News: Hörmann Industries GmbH / Key word(s): Annual Report/Annual
Results
HÖRMANN Industries publishes annual financial statements for 2023
30.04.2024 / 10:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
HÖRMANN Industries publishes annual financial statements for 2023
* Sales and earnings forecast for the full year 2023 exceeded
* All four divisions with positive earnings contribution
Kirchseeon, 30 April 2024 - HÖRMANN Industries GmbH (corporate bond, ISIN:
NO0012938325) today published its annual financial statements for 2023. In
the 2023 financial year, HÖRMANN Group generated sales of EUR 830.9 million
(previous year: EUR 685.7 million) and earnings before interest and taxes
(EBIT) of EUR 30.7 million (previous year: EUR 23.7 million). All four
business divisions recorded strong sales growth and contributed to the
positive annual result. Earnings before interest, taxes, depreciation and
amortisation (EBITDA) amounted to EUR 44.5 million (previous year: EUR 35.3
million) despite the difficult economic conditions. The 2023 financial year
closed with a consolidated net income of EUR 9.5 million (previous year: EUR
12.2 million).
Dr Michael Radke, CEO of HÖRMANN Industries GmbH: "The combination of
inflation and stagnation presents a new and demanding challenge to the
HÖRMANN Group. It is essential that we have remained flexible and
continuously adjusted our strategies to be able to keep up with the changing
economic conditions. As a result, we have been able to cope well with these
difficult times overall and, with our broad diversification across 13
sectors, we are also in a stable position for the future. We are therefore
confident about the coming development and will continue to pursue the
strategy of broadly diversifying the position of the HÖRMANN Group - this is
what HÖRMANN is made of!"
The Group's equity amounted to EUR 136.6 million as at 31 December 2023 (31.
Dec. 2022: EUR 136.4 million). Despite an increase in total assets, the
equity ratio decreased only slightly to 36.3% (31 Dec. 2022: 37.4%).
Johann Schmid-Davis, CFO of HÖRMANN Industries GmbH: "The fact that we were
able to successfully end the 2023 financial year in spite of difficult
prospects and conditions is a great success. In the fourth quarter, our
employees vigorously completed major projects, delivered many orders and
thus made the good result possible with a strong sprint to the finish line.
In the current year, however, we are facing challenges that are similar to
what all German industrial companies are dealing with, which is why we
expect a decline in sales and earnings. However, we still expect a clearly
positive result and it shows once again that our diversification strategy of
the entire HÖRMANN Group provides good stability."
Development of the business divisions
In the Automotive division, sales increased by 17.6% year-on-year from EUR
403.7 million to EUR 474.9 million. While the previous year was still
impacted by several weeks of production shutdowns by major OEM customers due
to the outbreak of the war in Ukraine, the positive forecasts by key
customers in truck production were confirmed in the 2023 financial year,
with the target production volumes being exceeded. However, in addition to
the growth in sales volumes, the sales trend continued to be driven by high
material prices, the inflation-related development of production costs and
the associated passing on of price increases without affecting the result.
Thanks to the high increase in sales, the company achieved a turnaround in
the reporting year with EBIT of EUR 0.2 million. A decline in sales is
expected for the current financial year as a result of the decrease in truck
production announced by customers.
The Communication division had another good financial year and, with sales
of EUR 199.4 million, exceeded the previous year's level (EUR 180.2 million)
and the forecast. With an EBIT of EUR 31.1 million, the division was almost
able to maintain the level of the previous year (EUR 31.7 million). The
GSM-R train radio product area as well as the passenger information and the
warning systems areas won important orders in the reporting period. The
positive business development also continued to be supported by demand for
qualified electrical planning and installation services, mechanical assembly
and maintenance for the energy transition as well as investments in the
expansion of rail transport. Thanks to the positive order trend, sales are
forecast to reach the level of 2023.
The Intralogistics division performed well in the past financial year,
generating sales of EUR 119.7 million (previous year: EUR 79.1 million) and
EBIT of EUR 3.2 million (previous year: EUR -3.3 million). However, the
division, which was already affected by supply bottlenecks and uncertainties
in the previous year, was also impacted in the reporting year by the
noticeable increase in the reluctance to invest and by the postponement of
investments during the course of the year. Consequently, incoming orders in
the financial year 2023 fell from EUR 104.2 million in the previous year to
EUR 92.4 million. As a result, a decline in sales is expected for the
current financial year.
With sales revenue of EUR 36.4 million, the Engineering division was also
significantly higher than in the previous year 2022 (EUR 21.6 million). Due
to a change in the product and service mix, EBIT rose to EUR 4.3 million
after EUR 4.0 million in the previous year. The Engineering division expects
sales for 2024 to be on a par with the reporting year.
Forecast 2024
For the 2024 financial year, HÖRMANN Industries GmbH expects sales of
between EUR 700 million and EUR 730 million. The main reasons for the
expected decline in sales compared to the previous year are the lower sales
volumes in the Automotive division and the weaker business performance of
the Intralogistics division. Positive earnings before interest and taxes
(EBIT) of between EUR 22 million and EUR 24 million are targeted for the
operating business. Working capital and available liquidity are expected to
remain at the same level as in the reporting year.
The complete, detailed annual financial statements, including an extensive
interview with the managing directors of HÖRMANN Group, Dr Michael Radke,
Johann Schmid-Davis and Dr Christian Baur, can be downloaded at
https://www.hoermann-gruppe.com/en/investor-relations/financial-reports/financial-publications.
In addition, the HÖRMANN Group also published its third Sustainability
Report today. The voluntary preparation of this comprehensive report based
on the international guidelines of the Global Reporting Initiative (GRI
standard) emphasises the long-term orientation of HÖRMANN Industries.
Building on the long-standing values of the family-owned company, the
Sustainability Report documents the diverse initiatives with regard to
responsible and sustainable corporate governance, the contribution to
climate protection and the fulfilment of responsibility for society and all
stakeholders. The sustainability report can be downloaded at the following
link: https://www.hoermann-gruppe.com/en/company/sustainability.
Selected key financial figures of HÖRMANN Industries GmbH (in EUR million)
Contact:
HÖRMANN Industries GmbH
Hauptstraße 45-47
D-85614 Kirchseeon
T +49 8091 5630 0
F +49 8091 5630 195
info@hoermann-gruppe.com
Financial and business press:
IR.on AG
Frederic Hilke
T +49 221 9140 970
hoermann@ir-on.com
About the HÖRMANN Group
Since the company was founded in 1955, the HÖRMANN Group has grown steadily.
Under the umbrella of HÖRMANN Holding GmbH & Co KG, around 30 subsidiaries
operate in the Automotive, Communication, Engineering and Intralogistics
business divisions with a high level of entrepreneurial initiative and
independence. The aim of the HÖRMANN Group is to provide customers with
specific solutions and services that offer economic advantages and a high
level of customer benefit. To achieve this, the HÖRMANN Group, with around
2,900 highly qualified employees, uses its entire broadly diversified and
networked knowledge from a wide range of technological fields.
www.hoermann-gruppe.com
---------------------------------------------------------------------------
30.04.2024 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.
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
---------------------------------------------------------------------------
1892599 30.04.2024 CET/CEST
EQS-News: Hörmann Industries GmbH / Key word(s): Annual Report/Annual
Results
HÖRMANN Industries publishes annual financial statements for 2023
30.04.2024 / 10:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
HÖRMANN Industries publishes annual financial statements for 2023
* Sales and earnings forecast for the full year 2023 exceeded
* All four divisions with positive earnings contribution
* Forecast 2024: sales between EUR 700 million and EUR 730 million, EBIT
between EUR 22 million and EUR 24 million
Kirchseeon, 30 April 2024 - HÖRMANN Industries GmbH (corporate bond, ISIN:
NO0012938325) today published its annual financial statements for 2023. In
the 2023 financial year, HÖRMANN Group generated sales of EUR 830.9 million
(previous year: EUR 685.7 million) and earnings before interest and taxes
(EBIT) of EUR 30.7 million (previous year: EUR 23.7 million). All four
business divisions recorded strong sales growth and contributed to the
positive annual result. Earnings before interest, taxes, depreciation and
amortisation (EBITDA) amounted to EUR 44.5 million (previous year: EUR 35.3
million) despite the difficult economic conditions. The 2023 financial year
closed with a consolidated net income of EUR 9.5 million (previous year: EUR
12.2 million).
Dr Michael Radke, CEO of HÖRMANN Industries GmbH: "The combination of
inflation and stagnation presents a new and demanding challenge to the
HÖRMANN Group. It is essential that we have remained flexible and
continuously adjusted our strategies to be able to keep up with the changing
economic conditions. As a result, we have been able to cope well with these
difficult times overall and, with our broad diversification across 13
sectors, we are also in a stable position for the future. We are therefore
confident about the coming development and will continue to pursue the
strategy of broadly diversifying the position of the HÖRMANN Group - this is
what HÖRMANN is made of!"
The Group's equity amounted to EUR 136.6 million as at 31 December 2023 (31.
Dec. 2022: EUR 136.4 million). Despite an increase in total assets, the
equity ratio decreased only slightly to 36.3% (31 Dec. 2022: 37.4%).
Johann Schmid-Davis, CFO of HÖRMANN Industries GmbH: "The fact that we were
able to successfully end the 2023 financial year in spite of difficult
prospects and conditions is a great success. In the fourth quarter, our
employees vigorously completed major projects, delivered many orders and
thus made the good result possible with a strong sprint to the finish line.
In the current year, however, we are facing challenges that are similar to
what all German industrial companies are dealing with, which is why we
expect a decline in sales and earnings. However, we still expect a clearly
positive result and it shows once again that our diversification strategy of
the entire HÖRMANN Group provides good stability."
Development of the business divisions
In the Automotive division, sales increased by 17.6% year-on-year from EUR
403.7 million to EUR 474.9 million. While the previous year was still
impacted by several weeks of production shutdowns by major OEM customers due
to the outbreak of the war in Ukraine, the positive forecasts by key
customers in truck production were confirmed in the 2023 financial year,
with the target production volumes being exceeded. However, in addition to
the growth in sales volumes, the sales trend continued to be driven by high
material prices, the inflation-related development of production costs and
the associated passing on of price increases without affecting the result.
Thanks to the high increase in sales, the company achieved a turnaround in
the reporting year with EBIT of EUR 0.2 million. A decline in sales is
expected for the current financial year as a result of the decrease in truck
production announced by customers.
The Communication division had another good financial year and, with sales
of EUR 199.4 million, exceeded the previous year's level (EUR 180.2 million)
and the forecast. With an EBIT of EUR 31.1 million, the division was almost
able to maintain the level of the previous year (EUR 31.7 million). The
GSM-R train radio product area as well as the passenger information and the
warning systems areas won important orders in the reporting period. The
positive business development also continued to be supported by demand for
qualified electrical planning and installation services, mechanical assembly
and maintenance for the energy transition as well as investments in the
expansion of rail transport. Thanks to the positive order trend, sales are
forecast to reach the level of 2023.
The Intralogistics division performed well in the past financial year,
generating sales of EUR 119.7 million (previous year: EUR 79.1 million) and
EBIT of EUR 3.2 million (previous year: EUR -3.3 million). However, the
division, which was already affected by supply bottlenecks and uncertainties
in the previous year, was also impacted in the reporting year by the
noticeable increase in the reluctance to invest and by the postponement of
investments during the course of the year. Consequently, incoming orders in
the financial year 2023 fell from EUR 104.2 million in the previous year to
EUR 92.4 million. As a result, a decline in sales is expected for the
current financial year.
With sales revenue of EUR 36.4 million, the Engineering division was also
significantly higher than in the previous year 2022 (EUR 21.6 million). Due
to a change in the product and service mix, EBIT rose to EUR 4.3 million
after EUR 4.0 million in the previous year. The Engineering division expects
sales for 2024 to be on a par with the reporting year.
Forecast 2024
For the 2024 financial year, HÖRMANN Industries GmbH expects sales of
between EUR 700 million and EUR 730 million. The main reasons for the
expected decline in sales compared to the previous year are the lower sales
volumes in the Automotive division and the weaker business performance of
the Intralogistics division. Positive earnings before interest and taxes
(EBIT) of between EUR 22 million and EUR 24 million are targeted for the
operating business. Working capital and available liquidity are expected to
remain at the same level as in the reporting year.
The complete, detailed annual financial statements, including an extensive
interview with the managing directors of HÖRMANN Group, Dr Michael Radke,
Johann Schmid-Davis and Dr Christian Baur, can be downloaded at
https://www.hoermann-gruppe.com/en/investor-relations/financial-reports/financial-publications.
In addition, the HÖRMANN Group also published its third Sustainability
Report today. The voluntary preparation of this comprehensive report based
on the international guidelines of the Global Reporting Initiative (GRI
standard) emphasises the long-term orientation of HÖRMANN Industries.
Building on the long-standing values of the family-owned company, the
Sustainability Report documents the diverse initiatives with regard to
responsible and sustainable corporate governance, the contribution to
climate protection and the fulfilment of responsibility for society and all
stakeholders. The sustainability report can be downloaded at the following
link: https://www.hoermann-gruppe.com/en/company/sustainability.
Selected key financial figures of HÖRMANN Industries GmbH (in EUR million)
Financial position and results of 2023 2022 operations Sales 830.9 685.7 Total output 816.5 709.0 Gross profit 353.3 305.2 EBITDA (1) 44.5 35.3 EBIT (2) 30.7 23.7 Cash flow from operating activities 31.9 -7.2 Cash flow from investing activities -24.8 -2.9
Net assets 31. Dec. 31. Dec.
2023 2022
Total assets 376.7 364.8
Equity 136.6 136.4
Equity ratio in % (3) 36.3% 37.4%
Working capital (4) 110.8 112.4
Net cash and cash equivalents (5) 59.2 65.3
Employees (number) (6) 2,919 2,876
Contact:
HÖRMANN Industries GmbH
Hauptstraße 45-47
D-85614 Kirchseeon
T +49 8091 5630 0
F +49 8091 5630 195
info@hoermann-gruppe.com
Financial and business press:
IR.on AG
Frederic Hilke
T +49 221 9140 970
hoermann@ir-on.com
About the HÖRMANN Group
Since the company was founded in 1955, the HÖRMANN Group has grown steadily.
Under the umbrella of HÖRMANN Holding GmbH & Co KG, around 30 subsidiaries
operate in the Automotive, Communication, Engineering and Intralogistics
business divisions with a high level of entrepreneurial initiative and
independence. The aim of the HÖRMANN Group is to provide customers with
specific solutions and services that offer economic advantages and a high
level of customer benefit. To achieve this, the HÖRMANN Group, with around
2,900 highly qualified employees, uses its entire broadly diversified and
networked knowledge from a wide range of technological fields.
www.hoermann-gruppe.com
---------------------------------------------------------------------------
30.04.2024 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.
The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
---------------------------------------------------------------------------
Language: English
Company: Hörmann Industries GmbH
Hauptstr. 45-47
85614 Kirchseeon
Germany
Phone: +49 8091 5630-0
Fax: +49 8091 5630-195
E-mail: info@hoermann-gruppe.com
Internet: www.hoermann-gruppe.com
ISIN: NO0012938325
WKN: A351U9
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Frankfurt, Hamburg, Hanover, Munich, Stuttgart,
Tradegate Exchange
EQS News ID: 1892599
End of News EQS News Service
---------------------------------------------------------------------------
1892599 30.04.2024 CET/CEST
