HÖRMANN Industries Reports Strong Financial Performance in 2023

HÖRMANN Industries GmbH, a diversified corporate group, has announced its annual financial results for 2023, revealing significant growth and exceeding its forecast. The company reported a revenue increase to EUR 830.9 million from EUR 685.7 million in the previous year, with an EBIT of EUR 30.7 million, up from EUR 23.7 million. All four business divisions contributed positively to the earnings.

The CEO of HÖRMANN, Dr. Michael Radke, expressed satisfaction with the company’s performance despite the challenging economic environment marked by inflation and stagnation. The company’s strategic flexibility and diversified operations across 13 sectors have fortified its market position, providing stability and optimism for future growth.

For 2023, the company achieved an EBITDA of EUR 44.5 million, an improvement over the previous year’s EUR 35.3 million. However, consolidated net income was slightly lower at EUR 9.5 million compared to EUR 12.2 million in 2022. The equity of HÖRMANN stood at EUR 136.6 million at the end of 2023, maintaining a stable financial foundation with a slight decrease in the equity ratio to 36.3%.

Looking ahead to 2024, HÖRMANN Industries anticipates a decrease in sales, projecting between EUR 700 million and EUR 730 million, and expects EBIT to be between EUR 22 million and EUR 24 million. The forecast reflects expected declines in the Automotive and Intralogistics divisions.