DATA MODUL Reports Decrease in Sales and Earnings for Q1 2024

DATA MODUL AG announced a downturn in its financial performance for the first quarter of 2024, amid challenging economic conditions. The Munich-based company, specializing in the production and distribution of electronic systems, experienced a 12.3% drop in sales year-on-year, totaling EUR 63.5 million. The company also saw a significant decrease in incoming orders, which declined by 40.6% to EUR 50.3 million compared to the same period last year.

This decline in performance extends to the company's order backlog, which now stands at EUR 149.8 million, significantly lower than the previous year's EUR 205.3 million. The earnings before interest and taxes (EBIT) also fell by 15.5%, amounting to EUR 4.1 million. These figures reflect the broader economic uncertainties affecting the industry, influenced by inflation and global political tensions.

Despite the current downturn, DATA MODUL is leveraging its strategic program and strict cost management to navigate through the ongoing economic challenges. The company remains cautious about the future, acknowledging that the adverse conditions might impact the full-year financials negatively.