HÖRMANN Industries Outperforms Sales and Earnings Forecast for 2023

HÖRMANN Industries GmbH reported exceeding its sales and earnings projections for the financial year 2023, according to preliminary figures announced on March 20, 2024. With a notable increase from the previous year, the company generated consolidated sales of approximately €830 million in 2023, compared to €685.7 million in 2022. The operating earnings before interest, taxes, depreciation, and amortization (EBITDA), adjusted for non-recurring effects, reached around €42 million, up from €35.3 million in the preceding year. Furthermore, adjusted operating earnings before interest and taxes (EBIT) climbed to about €29 million, rising from €23.7 million in 2022.

This financial growth surpasses the forecast made on November 30, 2023, which estimated total sales between €730 million and €770 million, and adjusted operating EBITDA between €34 million and €36 million. The sale of the loss-making HÖRMANN Automotive Eislingen GmbH unit on November 1, 2023, resulted in a non-recurring expense adjustment of approximately €7 million.

The increase in sales has been attributed to inflation-related price rises, significantly higher production volumes in the Automotive division, and the completion of multi-year project orders within the Communication and Intralogistics divisions. Moreover, an unexpected surge in demand during the fourth quarter of 2023 contributed to the improvement in earnings. HÖRMANN Industries plans to release its final consolidated financial statements for the year 2023 on April 30, 2024.