HÖRMANN Industries Publishes Interim Report for Q1 2024

On May 31, 2024, HÖRMANN Industries GmbH released its interim financial results for the first quarter of 2024. The company reported a slight decline in sales, reaching EUR 165.6 million compared to EUR 172.1 million in the same period last year. EBITDA fell to EUR 4.0 million from EUR 5.3 million, and EBIT decreased to EUR 0.9 million from EUR 2.5 million.

The downturn was largely attributed to challenging economic conditions and lower demand in the Automotive division, particularly from the truck and agricultural machinery sectors. This drop in sales has led to a revision of the company's full-year forecast for 2024. Sales are now expected between EUR 680 million and EUR 700 million, and EBIT is projected to be between EUR 16 million and EUR 20 million.

Despite these challenges, CFO Johann Schmid-Davis expressed confidence in overcoming them through stable net assets, ongoing cost-cutting measures, and business diversification. The company's efforts to reorganize the HÖRMANN Group aim to enhance long-term profitability.