R&S Group Reports 15% Organic Net Sales Growth in H1 2024

R&S Group Holding AG announced a 15% increase in organic net sales for the first half of 2024, with total net sales reaching CHF 109.9 million. This growth excludes the recently divested high-voltage switches business in the Czech Republic. The company also reported an 18% rise in order intake, amounting to CHF 141.0 million.

The order backlog stood at CHF 218.2 million by the end of June, marking a 25% year-over-year increase. This strong performance reflects robust demand in R&S Group’s focus markets. Despite delays in opening a new plant in Poland, expected to start production by October 2024, initial customer orders have been placed, with first deliveries set for the fourth quarter.

R&S Group also anticipates higher tax expenses due to a non-recurring payment of CHF 3.7 million related to previous tax periods. Nevertheless, the company reaffirms its full-year 2024 guidance, forecasting net sales growth above 12%, an EBIT margin around 20%, and a free cash flow margin in the mid-teens.