SBF AG Meets 2023 Revenue Targets Amidst Challenges

SBF AG, a company specializing in rail vehicles, lighting, electromechanics, and sensor technology, reported its 2023 financial results on May 10, 2024. The company announced that its consolidated revenue reached EUR 34.0 million, aligning with the forecasted target set on August 24, 2023. However, the preliminary adjusted Group EBITDA was recorded at EUR -0.5 million, falling below the anticipated EUR 1.0 million.

The lower earnings were attributed to a challenging economic environment, heightened procurement costs, increased personnel expenses, and delays in several projects. Additionally, SBF AG faced unexpected expenses, including EUR -0.5 million in special effects related to acquisitions and legal costs, impairing the financial performance further to a preliminary EBITDA of EUR -1.0 million. Looking ahead, the company forecasts a rise in consolidated revenue to approximately EUR 48 million for 2024, despite expecting a continued tough economic scenario and a negative consolidated net result.