Einhell Maintains Growth Trajectory in First Half of 2024

Landau a. d. Isar, 22 August 2024 – Einhell Germany AG reported a remarkable revenue increase in the first half of 2024, growing from EUR 525.9 million to EUR 576.2 million. This growth was largely driven by the success of its Power X-Change battery platform, which accounted for 51% of total revenue, up five percentage points from the previous year. Earnings before taxes (EBT) reached EUR 50.1 million, demonstrating improved profitability with a pre-tax margin of 8.7%.

CEO Andreas Kroiss emphasized the focus on Power X-Change, noting its wide acceptance in DIY and gardening markets. By 2027, Einhell plans to expand the platform to 450 tools, all compatible with the same battery. Kroiss believes this strategy will ensure sustained growth for the company.

Additionally, the company executed a three-for-one share split to attract a broader investor base. Revenue across various regions also showed strong performance, notably in Eastern Europe and Australia. Further international expansion, including new subsidiaries in Thailand and Vietnam, signals robust future potential.

Looking ahead, the Board expects to achieve full-year revenue of EUR 1,030 million with a pre-tax margin of approximately 8.0%, despite economic uncertainties.