R. STAHL AG Updates Guidance Amid Mixed Q3 Results

R. STAHL AG reported mixed Q3 results, with sales aligning with expectations but adjusted EBITDA falling short. Revenue rose slightly by 1.7% year-on-year to €87.4 million, driven by a robust performance in the oil & gas, marine, and pharmaceutical sectors. However, adjusted EBITDA decreased by 35% to €8.8 million, with operational margins dipping to 10.0%.

Operating expenses increased by 9.5% due to the EXcelerate strategy program's one-time costs. While the Americas posted an 11.7% sales growth, other regions like Germany and Asia/Pacific saw stagnant sales. Order intake declined by 9.4% attributed to global economic uncertainties.

Free Cash Flow (FCF) improved to €6.0 million, aided by a reduction in working capital. The company reaffirmed its sales and FCF guidance for FY24 but narrowed its EBITDA forecast.