R&S Group Holding AG / CH1107979838
17.05.2024 - 06:30:12R&S Group increases guidance for 2024 and beyond
| R&S Group Holding AG / Key word(s): Profit Hike R&S Group increases guidance for 2024 and beyond 17-May-2024 / 06:30 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Ad hoc announcement pursuant to Art. 53 LR R&S Group increases guidance for 2024 and beyond Revenue growth above 12%, higher than the previous guidance range Full-year 2024 EBIT margin of around 20%, up from 16-18% Free cash flow margin guidance raised to mid-teens double-digit as percent of net sales from mid to high-single digit Mid-term outlook also increased accordingly above the previous guidance Sissach/BL, Switzerland, 17 May 2024 – R&S Group Holding AG (SIX: RSGN) revised its guidance for the full-year 2024 (FY2024) that was published on 24 January 2024 and now expects net sales to grow above 12%, elevated from the upper end of the previous guidance range of 9-12%, and an increased EBIT margin of around 20% (previous guidance 16-18%). Thanks to strong cash conversion, the free cash flow margin guidance is also raised to mid-teens double-digit as percent of net sales. The strong order backlog per end of April of over CHF 200 million and a book-to-bill ratio of 1.3x reflect a favorable medium-term outlook. The higher expected net sales growth, economies of scale and the measures implemented to protect the gross margin and improve operational performance are showing a much higher impact on margin expansion than initially anticipated. Dynamics in the transformer markets in Central and Eastern Europe, where R&S Group maintains high market shares in its focus markets, as well as in new target markets such as the Nordics, the Baltics and Germany remain favorable. As such, the Executive Committee expects good volume growth for 2024 and beyond. In the mid-term, R&S Group aims for net sales growth of around 12% per annum (previously around 10%), an EBIT margin of around 20% (before mid-teens) and a free cash flow margin in the mid-teens double-digit as percent of net sales, up from around 10% previously. The good start into the year confirms that R&S Group is well on track to achieve the newly updated guidance. More detailed information on the performance in the first half year of 2024 will be provided on 24 July 2024 on occasion of the publication of the trading update. Calendar 2024
Disclaimer This communication expressly or implicitly contains certain forward-looking statements concerning R&S Group Holding AG and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of R&S Group Holding AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. R&S Group Holding AG is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise. Additional features: File: R&S Group increases guidance for 2024 and beyond End of Inside Information |
| Language: | English |
| Company: | R&S Group Holding AG |
| Churerstrasse 25 | |
| 8808 Pfäffikon SZ | |
| Switzerland | |
| E-mail: | investors@the-rsgroup.com |
| Internet: | www.the-rsgroup.com |
| ISIN: | CH1107979838, CH1108008082 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 1905319 |
| End of Announcement | EQS News Service |
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