MAX Automation SE Reports Q1 2024 Financial Performance

MAX Automation SE disclosed its financial results for Q1 2024, highlighting a slight decline in sales and order intake influenced by ongoing economic challenges. The company reported sales of €90.6 million down by 6.1% from €96.5 million in the same period last year. This decline was attributed to sluggish demand across its operations.

Despite the decrease in sales, the company managed to sustain a positive EBITDA of €7.9 million, although this was lower than the €9.7 million recorded in Q1 2023. The EBITDA margin also saw a reduction, settling at 8.8% compared to 10% in the previous year. The order intake from continuing operations fell by 21.1% to €89.7 million, mainly due to customer investment restraint.

The company's order backlog also decreased by 4.5% to €196.8 million as of 31 March 2024. In line with these results, MAX Automation SE confirmed its outlook for 2024, projecting sales to be between €390 million and €450 million and EBITDA ranging from €31 million to €38 million.

Furthermore, the company announced the sale of its MA micro Group to Hitachi, Ltd., expected to close in the second half of 2024. This sale is targeted at reducing the financial liabilities within the MAX Group.