LEM Reports Resilient Performance Amid Challenging Markets in 2023/24

GENEVA – LEM HOLDING SA (SIX: LEHN), a leader in electrical measurement solutions, has announced its financial results for the fiscal year 2023/24. Despite market challenges, the company maintained its sales at CHF 405.8 million, reflecting a stable comparison with the previous year. Growth at constant exchange rates was 7.2%, demonstrating the company's ability to navigate a complex market environment.

Geographically, EMEA led with a 22.6% sales increase, while Rest of Asia grew by 15.9%. The Americas saw a 5.0% decrease, and China faced a sharp decline of 24.2% due to economic slowdowns. Despite this, at constant currencies, Rest of Asia recorded 26% growth.

Operationally, LEM's EBIT declined by 12.1% to CHF 81.1 million, with an EBIT margin of 20.0%. Net profit fell to CHF 65.3 million, a decrease attributed to lower sales and higher operating expenses. LEM's Board proposes a dividend of CHF 50 per share for the year.

LEM also advanced sustainability efforts, publishing its first standalone Sustainability Report and reducing its carbon footprint. The company anticipates market moderation in the next fiscal year but expects improvement in the latter half of 2024/25 as customer inventory levels adjust.