SLR Group GmbH / NO0013177949
29.11.2024 - 09:00:04SLR Group publishes results for the first quarter 24/25
| SLR Group GmbH / Key word(s): Quarter Results 29.11.2024 / 09:00 CET/CEST The issuer is solely responsible for the content of this announcement. Net sales of EUR 45.2 million in Q1 24/25 impacted by difficult market environment as expected Adjusted EBITDA of EUR 0.4 million, adjusted EBITDA margin of 1.0% Action plan "Adapt & Grow" successfully initiated with a focus on efficiency improvement and cost reduction Forecast for financial year 24/25 confirmed: total production and tonnage sold to be in the range of 100 kilotons and adjusted EBITDA of EUR 20 million expected St. Leon-Rot, November 29, 2024 – SLR Group GmbH, a leading supplier of high-quality spheroidal graphite cast iron components, today published its figures for the first quarter of the financial year 24/25. Net sales decreased by 23% to EUR 45.2 million in the first quarter of 24/25 compared to the first quarter of the previous year (Q1 23/24: EUR 59.0 million). Tonnages sold decreased by 18% to 22.1 kilotons in the first quarter of 24/25 after 27.0 kilotons in the same period of the previous year. The reason for the decline in sales and tons sold is the subdued market environment in the agricultural and construction sectors, which led to lower order volumes in the relevant core segments. On the earnings side, the SLR Group achieved an adjusted EBITDA of EUR 0.4 million in the first quarter of 24/25, which corresponds to a significant decrease of 93% compared to the same quarter of the previous year (Q1 23/24: EUR 5.5 million). This resulted in an adjusted EBITDA margin of 1.0% (Q1 23/24: 5.5%). Gunnar Halden, CFO of the SLR Group, explains: "As expected, the start to the current financial year 24/25 has been subdued and has been significantly impacted by the prevalent caution among key customers in our core segments. We are currently focusing on the successfully launched 'Adapt and Grow' program to increase efficiency and reduce costs at all plants. We are already seeing the first effects and are confident that the measures will have a positive impact on earnings over the course of the year." The SLR Group confirms its forecast for the current financial year 24/25 and continues to expect total production and tons sold to be in the range of 100 kilotons, slightly below the figures for the financial year 23/24. In addition, the SLR Group expects an adjusted EBITDA of EUR 20 million in the financial year 24/25. Jörg Rumikewitz, CEO of the SLR Group, looks ahead to the current financial year: "We are seeing first signs, in line with current market estimates, that the market in the agricultural and construction machinery industry will have bottomed out in 2025. As the SLR Group, we will be prepared for this. As part of our 'Adapt and Grow' program, we are also focusing on driving sales. By optimizing our pricing and product policy, we aim to create new incentives to increase tonnage in our relevant core segments." The report for the first quarter 24/25 is now available on the company website at slr-gruppe.de/en/investor-relations. About SLR Group SLR Group, headquartered in St. Leon-Rot, Germany, is a leading producer of high-quality cast iron components used mainly in large off-highway agricultural and infrastruc-ture/construction machinery. Founded in 1970, SLR today operates four state-of-the-art, fully invested manufacturing facilities in Germany, Hungary and the Czech Republic. The Group acts as a full-service provider for its customers, spanning from development and tool manufacturing to casting all the way to the machined component. SLR enjoys a blue-chip customer base with entrenched single-source relationships spread over Europe and North America, with main customers including market leading OEMs and Tier 1 vendors. In the 2023/2024 financial year, the SLR Group generated net sales of around EUR 238.1 million (Pro forma figures for the FY 23/24 of the previously operating SLR Holding GmbH). At the end of last year, the company employed 758 people (HC). SLR Group GmbH has issued a Nordic bond with a volume of EUR 75 million, which is listed on the Open Market of the Frankfurt Stock Exchange. IR contact cometis AG Thorben Burbach Unter den Eichen 7 | Building D 65195 Wiesbaden Germany Phone: +49(0)611 - 205855-23 E-mail: burbach@cometis.de 29.11.2024 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: | SLR Group GmbH |
| Am Bahnhof 16 | |
| 68789 St. Leon-Rot | |
| Germany | |
| Internet: | www.slr-gruppe.de |
| ISIN: | NO0013177949 |
| WKN: | A383DP |
| Listed: | Regulated Unofficial Market in Berlin, Frankfurt |
| EQS News ID: | 2040749 |
| End of News | EQS News Service |
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