EQS-News: R. STAHL with strong growth and significant increase in profitability in the first quarter of 2023
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Waldenburg, 10 May 2023 – R. STAHL had a dynamic start to financial year 2023.
EQS-News: R. Stahl AG / Key word(s): Quarterly / Interim Statement/Quarter Results R. STAHL with strong growth and significant increase in profitability in the first quarter of 2023 10.05.2023 / 07:00 CET/CEST The issuer is solely responsible for the content of this announcement.
R. STAHL with strong growth and significant increase in profitability in the first quarter of 2023
Waldenburg, 10 May 2023 – R. STAHL had a dynamic start to financial year 2023. Demand for the company’s products and services was very high in all regions and industries in the first quarter of 2023. Not only that, but the negative impact from disrupted supply chains is gradually weakening. The expert in explosion protection was thus able to improve almost all important financial key figures in the first three months of the year. Order intake increases by 28.7% – order backlog reaches new record level of € 125.7 million All regions contribute to sales growth of 28.0% to € 78.1 million Significant increase in profitability – EBITDA pre exceptionals up € 7.4 million to € 10.4 million The significantly increased volume of business from January to March led to an increase in inventory and receivables and thus to an increase in working capital of € 15.3 million (Q1 2022: € 9.8 million). This had a negative impact on free cash flow, which at € ‑8.7 million was € 1.4 million lower than in the previous year (Q1 2022: € -7.3 million). As a result, the equity ratio of 26.7% was almost stable (31 December 2022: 27.5%). Strong first quarter 2023 confirms outlook for full year 2023 For the current financial year, the Executive Board forecasts growth in Group sales in the low double-digit percentage range to between € 305 million and € 320 million. Profitability is expected to improve significantly year-on-year on the basis of a general improvement in procurement markets and due to increased cost efficiency. EBITDA pre exceptionnals should increase significantly and be within a corridor of between € 30 million and € 36 million (2022: € 22.3 million). In terms of free cash flow, R. STAHL forecasts a low single-digit positive million euro amount in 2023. “The first quarter of 2023 confirmed the strategy we are pursuing. What we have to do now is efficiently process the high order intake while simultaneously continuing to take advantage of the growth opportunities in our markets in order to grow profitably in the long term”, says Dr. Mathias Hallmann, CEO of R. STAHL.
Key figures of R. STAHL Group for Q1 2023 pursuant to IFRS
1) Africa and Europe without Germany Percentages and figures in may include rounding differences. The signs used to indicate rates of changes are based on mathematical aspects. Rates of changes > +100% are shown as >+100%, rates of change <-100% as „n/a“ (not applicable)
Note The interim report Q1 2023 is available for download under the following link: https://r-stahl.com/en/global/corporate/investor-relations/ir-news-and-publications/financial-reports
Financial calendar
About R. STAHL – www.r-stahl.com Typical customers are the chemical and pharmaceutical industry, the oil & gas industry - including LNG applications - as well as the food and beverage industry. Most of the R. STAHL products are also approved for use with hydrogen. In 2022 global sales amounting to around €274 million were generated by 1,676 employees. The shares of R. STAHL AG are traded on the Regulated Market/Prime Standard of Deutsche Boerse (ISIN DE000A1PHBB5). Forward-looking statements
10.05.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | R. Stahl AG |
Am Bahnhof 30 | |
74638 Waldenburg | |
Germany | |
Phone: | +49 (7942) 943-0 |
Fax: | +49 (7942) 943-4333 |
E-mail: | [email protected] |
Internet: | www.r-stahl.com |
ISIN: | DE000A1PHBB5 |
WKN: | A1PHBB |
Listed: | Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Tradegate Exchange |
EQS News ID: | 1628409 |
End of News | EQS News Service |
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1628409 10.05.2023 CET/CEST