Ringmetall SE Reports Earnings Margin Expansion in Q1 2024 Despite Lower Steel Prices

Ringmetall SE, the Munich-based specialist supplier in packaging, reported a stable business performance in the first quarter of 2024, marked by subtle growth in earnings margins amidst falling steel prices. With Group revenue at EUR 45.6 million, the company experienced a minor decline compared to last year, adjusting for HSM’s contribution. Notably, EBITDA rose to EUR 6.3 million, slightly above the previous year's adjusted figures, pushing the EBITDA margin to 13.9 percent.

The Closure Systems and Liners segments exhibited diverse results; the former maintained revenue through organic growth despite steel cost pressures, whereas the latter saw increases due to recent acquisitions. The management remains optimistic about maintaining steady operational progress for the remainder of 2024, expecting group revenue to range between EUR 170 million and EUR 195 million, with EBITDA potentially hitting between EUR 20 million and EUR 27 million.

In conclusion, despite external economic fluctuations, Ringmetall SE has navigated the first quarter with sustained focus on strategic growth and efficiency, reinforcing its outlook for the current fiscal year.