Ringmetall SE / DE000A3E5E55
30.08.2024 - 07:00:20Ringmetall further expands margins in the first half of 2024 with slight organic growth
Ringmetall SE / Key word(s): Half Year Results/Half Year Report 30.08.2024 / 07:00 CET/CEST The issuer is solely responsible for the content of this announcement. Group revenue down 1.6 percent on a comparable basis to EUR 90.8 million due to raw material price development EBITDA increases by 3.9 percent on a comparable basis to EUR 13.4 million EBITDA margin of 14.8 percent further increased, also compared to directly preceding quarter Q1 2024 Munich, 30 August 2024 - Ringmetall SE (ISIN: DE000A3E5E55), a leading international specialist supplier in the packaging industry, returned to organic growth in the first half of 2024 in a business environment remaining challenging. The overall revenue trend was largely characterized by declining steel prices. However, rising sales volumes underpinned the increasingly positive trend in the core business area of drum closure systems. At EUR 90.8 million, Group revenue was 1.6 percent below the adjusted prior-year figure (H1 2023, adjusted for HSM's contribution to revenue: EUR 92.3 million*). Slight organic revenue growth paired with inorganic revenue growth from the acquisitions of Protective Lining, Liner Factory and IDF made during the course of 2023 was offset by a disproportionately high revenue effect from falling raw material prices and, in particular, falling steel prices. “Even though our organic growth is still in the low single-digit percentage range, this operational turnaround is an important signal for us,” emphasizes Christoph Petri, Spokesman of the Management Board of Ringmetall SE. “At the same time, we are coping well with the declining raw material prices, as we are generally able to fully pass on changes in raw material prices to our customers.” At EUR 13.4 million, earnings before interest, taxes, depreciation and amortization (EBITDA) were 3.9 percent above the adjusted prior-year level (H1 2023, adjusted for the one-off effect from the sale of HSM: EUR 12.9 million**). The EBITDA margin in relation to total output increased to 14.8 percent (H1 2023, adjusted for the one-off effect from the sale of HSM: 14.0 percent), mainly due to lower steel prices. The margin also increased further compared to the previous quarter Q1 2024. In addition to efficiency improvements in production, savings in the area of administration were the main reason for the margin increase. The key figures for business development in the reporting period are as follows:
Contact: Ingo Middelmenne Investor Relations Ringmetall SE Phone: +49 (0 )89 45 220 98 12 Mobile: +49 (0 )174 90 911 90 Email: middelmenne@ringmetall.de About the Ringmetall Group Ringmetall is a leading international specialist supplier of industrial packaging. The company produces high-security closure systems and inner liners for industrial drums for the chemical, pharmaceutical and food processing industries. Ringmetall also offers innovative packaging solutions for the beverage industry. With products that are highly recyclable, the company contributes to strengthening the circular economy and the sustainability of its end customers. In addition to its headquarters in Munich, the Group is represented by global production and sales offices in Germany, France, the UK, Spain, Italy, Turkey, the Netherlands, China and the USA. In 2023, Ringmetall generated Group revenue of EUR 181.6 million with 867 employees. 30.08.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com |
Language: | English |
Company: | Ringmetall SE |
Innere Wiener Str. 9 | |
81667 Munich | |
Germany | |
Phone: | 089 / 45 22 098 - 0 |
Fax: | 089 / 45 22 098 - 22 |
E-mail: | info@ringmetall.de |
Internet: | www.ringmetall.de |
ISIN: | DE000A3E5E55 |
WKN: | A3E5E5 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1977859 |
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