ENCAVIS AG Reports Lower Q1 Results Yet Maintains 2024 Financial Guidance

Hamburg, 3rd May 2024 – ENCAVIS AG, an MDAX-listed company, disclosed its preliminary financial results for the first quarter of 2024, showing a downtrend compared to the same period last year. According to the company, net revenue fell by over 12% to approximately EUR 86.6 million from the prior year's EUR 98.8 million. Additionally, there was a sharp 24% decline in adjusted EBITDA to about EUR 48.5 million, and a significant drop in adjusted EBIT by more than 48%, down to EUR 18.2 million.

The company also noted a negative turn in adjusted EPS, posting around EUR -0.04 compared to EUR 0.09 in the previous year, and a reduction of approximately 30% in operating cash flow to EUR 36.3 million. Despite these lower performance indicators, ENCAVIS AG's Management Board confidently reaffirmed its full-year 2024 financial guidance, suggesting a strategic alignment with planned operational targets. Further financial explanations and details are available in the company's 2023 Annual Report and Consolidated Financial Statements.