EQS-News: R. Stahl AG
/ Key word(s): Preliminary Results/Development of Sales
R. STAHL with substantial increases in profitability, sales and order intake in financial year 2023
Waldenburg, 15 February 2024 – According to preliminary figures, R. STAHL saw significant improvements in all key figures in financial year 2023. The recovery of the procurement markets and forward-looking inventory build-up led to strong sales growth in 2023. This enabled R. STAHL to increase sales for full year 2023 by 20.5% to € 330.6 million (previous year: € 274.3 million). The forecast corridor was between € 305 million and € 320 million. Order intake at the specialist for explosion protection solutions was up 9.3% to € 342.5 million in 2023 (previous year: € 313.5 million). Order activity lost momentum in the second half of the year due to a general economic slowdown and decline in demand from the German chemical industry. Since the beginning of 2024, order intake has shown an encouraging rebound. Because order volume once again exceeded sales in the past financial year, order backlog increased to € 115.1 million at the end of 2023 (previous year: € 109.4 million). R. STAHL significantly improved its operational profitability in the past financial year. The company increased EBITDA pre exceptionals by 73.0% or € 16.3 million to € 38.6 million (previous year: € 22.3 million). The figure was thus within the forecast range of € 35 million to € 40 million (previously: € 30 million to € 36 million), which was adjusted upward in November 2023. The company increased its profitability as measured by the EBITDA margin from 8.1% in the previous year to 11.7%. R. STAHL also improved its cash flow from operating activities in 2023, increasing this figure by € 8.2 million to € 14.2 million (previous year: € 6.0 million). Free cash flow improved by € 4.7 million to € +0.3 million (previous year: € -4.4 million). R. STAHL had most recently forecast a figure in the low single-digit negative million euro range. In light of current developments, there is the potential for a full impairment of the 25% investment in the Russian company ZAVOD Goreltex Co. Ltd, St. Petersburg, in the 2023 annual financial statements. The carrying amount of the investment was € 10.3 million as at December 31, 2023. An impairment would have a negative impact on the financial result. It would not affect liquidity and would also have no impact on EBITDA pre exceptionals. The company already wrote down outstanding dividend receivables of € 1.9 million from ZAVOD Goreltex in the fourth quarter of 2023. This effect is included in EBITDA pre exceptionals as other operating expenses. “The very strong business development in 2023 underscores the effectiveness of the EXcellence 2030 corporate strategy. R. STAHL was able to further stabilize and consolidate its market position in 2023 despite a challenging environment. The company will take advantage of the opportunities that arise in our market, which is experiencing medium and long-term growth, so that we can continue to generate sustainable success”, says Dr. Mathias Hallmann, CEO at R. STAHL. The figures and forward-looking statements in this press release relating to 2023 are preliminary. R. STAHL will provide an outlook for 2023 together with the release of its audited Annual Report 2023 on 17 April 2024.
Key figures of the R. STAHL Group pursuant to IFRS 1)
1) Preliminary figures; the final and full figure set as well as the Annual Report 2023 will be released on 17 April 2024. 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)
Financial Calendar 2024
About R. STAHL – www.r-stahl.com 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. According to preliminary figures,in 2023 global sales amounting to around € 330,6 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 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
15.02.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
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: | 1837419 |
End of News | EQS News Service |
|
1837419 15.02.2024 CET/CEST
The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.
The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.
If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.
For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.
1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.