LEM Reports Weak First Half for 2024/25

LEM HOLDING SA, a leader in electrical measurement, announced a substantial decline in its first-half sales for 2024/25. Sales fell by 29.9%, reaching CHF 156.5 million, with notable declines in EMEA, Rest of Asia, and the Americas, while China saw a smaller decrease of 11.7%. Overall bookings also fell by 9.7%, with the book-to-bill ratio at 0.82.

EBIT dropped 72.6% to CHF 14.2 million, and the net profit margin reduced to 5.5%. Cash flow showcased a negative figure due to reduced profits and increased net working capital. LEM launched "Fit for Growth," a program aimed at improving organizational efficiency amid these challenges.

The company projects subdued market conditions, expecting annual sales between CHF 290 to 310 million. LEM aims to eventually reach CHF 600 million in sales by 2029/30 while improving its EBIT margin. However, short-term recovery remains uncertain.