​​​​​​​HÖRMANN Industries with significant sales increase in the first quarter of 2023

HÖRMANN Industries with significant sales increase in the first quarter of 2023

• Sales increases by 35.5 % to EUR 172.1 million (previous year: EUR 127.0 million), EBITDA improves to EUR 5.3 million (previous year: EUR 1.2 million), EBIT to EUR 2.5 million (previous year: EUR -1.5 million)
• Positive development of the Automotive business division since September 2022 continues; Communication, Intralogistics and Engineering business divisions continue with strong order intake
• Forecast for the full year 2023 confirmed

Kirchseeon, 31 May 2023 - HÖRMANN Industries GmbH (corporate bond, WKN: A2TSCH) today published its financial results for the first three months of 2023. In the first quarter, HÖRMANN Group generated sales of EUR 172.1 million, a significant increase of EUR 45.1 million compared to the same period last year (EUR 127.0 million). In the reporting quarter, the Group benefited from the significant recovery in the commercial vehicle industry and the continued passing on of inflation-related price increases. In the first quarter of 2022, the outbreak of the war in Ukraine and the associated supply bottlenecks and production disruptions, especially at major OEM customers, had a negative impact on sales development. As a result of the stabilised business situation and increased productivity, earnings before interest, taxes, depreciation and amortisation (EBITDA) also improved significantly in the first quarter of 2023 compared to the same period of the previous year from EUR 1.2 million to EUR 5.3 million, and earnings before interest and taxes (EBIT) from EUR -1.5 million to EUR 2.5 million.

Johann Schmid-Davis, CFO of HÖRMANN Industries GmbH: “In the first quarter, the positive development that we have already seen since September 2022 continued. The broad positioning of HÖRMANN Industries GmbH with four business divisions is and remains our stable foundation, which allows us to look optimistically into the future even in a challenging market environment with high inflation and supply chain disruptions. In addition, we are pushing ahead with the realignment of the HÖRMANN Group in order to sustainably and continuously increase our earning power.”

Positive business development in all four business divisions; Automotive with a sales increase of almost 50%

In the Automotive division, sales increased by 49.5% from EUR 80.0 million to EUR 119.6 million compared to the same period of the previous year, in particular due to the aforementioned production interruptions in Q1 2022. The Communication division also got off to a good start in the new 2023 financial year and, with sales of EUR 33.2 million (previous year: EUR 35.0 million), was largely at the previous year's level and within budget. The Intralogistics division, which was heavily impacted by supply bottlenecks and market uncertainties in the previous year, recorded an increase in sales to EUR 12.4 million in the first quarter of 2023 (previous year: EUR 6.9 million, as-if). In the new division established in May 2022, the focus in 2023 will be on a further increase in order intake and the successful realization of sales from the multi-year project orders to shape the planned dynamic growth of the division for the coming years. With sales of EUR 6.9 million (previous year: EUR 5.1 million), the Engineering business division also exceeded the comparable quarter of the previous year.

The order backlog of the HÖRMANN Group also developed very positively and was increased by EUR 93.8 million to EUR 555.1 million in the first quarter of 2023 compared to December 31, 2022 (EUR 461.3 million). Of this, EUR 200.2 million is attributable to the Communication business division, EUR 133.7 million to the Intralogistics business division, EUR 168.4 million to the Automotive business division and EUR 52.7 million to the Engineering business division. This means that the project-oriented Communication, Intralogistics and Engineering business divisions have an order backlog of more than one year's sales. In the Automotive division, the existing multi-year master agreements with OEM customers are only included in orders on hand for advised call-off orders of an average of ten weeks..

Forecast for the full year 2023 confirmed

After assessing the current order situation and the positive outlook for the individual business divisions, HÖRMANN Industries GmbH continues to forecast total sales of EUR 730 million to EUR 760 million in 2023 (2022: EUR 685.7 million). For the operating business, taking into account the rising cost base due to inflation, positive earnings before interest, taxes, depreciation and amortisation (EBITDA) are expected at the previous year's level of between EUR 34 million and EUR 36 million (2022: EUR 35.3 million). The HÖRMANN Group forecasts earnings before interest and taxes (operating EBIT) slightly above the previous year's level between EUR 23 million and EUR 25 million (2022: EUR 23.7 million).

The consolidated interim report for the period from 1 January to 31 March 2023 of HÖRMANN Industries GmbH is available at https://www.hoermann-gruppe.com/en/investor-relations/financial-reports/financial-reports.

Selected key financial figures of HÖRMANN Industries GmbH (in EUR million)
 

Contact:

HÖRMANN Industries GmbH
Hauptstrasse 45-47
D-85614 Kirchseeon
T +49 8091 5630 0
F +49 8091 5630 195
info@hoermann-gruppe.com

Financial and business press:

IR.on AG
Frederic Hilke
T +49 221 9140 970
hoermann@ir-on.com

About the HÖRMANN Group

Since the company was founded in 1955, the HÖRMANN Group has grown steadily. Under the umbrella of HÖRMANN Holding GmbH & Co KG, more than 30 subsidiaries operate in the Automotive, Communication, Intralogistics, and Engineering business divisions with a high level of entrepreneurial initiative and independence. The aim of the HÖRMANN Group is to provide customers with specific solutions and services that offer economic advantages and a high level of customer benefit. To achieve this, the HÖRMANN Group, with around 2,950 highly qualified employees, uses its entire broadly diversified and networked knowledge from a wide range of technological fields.

www.hoermann-gruppe.com