Ringmetall Expands Margins in H1 2024 Amidst Challenging Market

Ringmetall SE has managed to expand its margins in the first half of 2024 despite a 1.6 percent decline in group revenue, influenced by falling raw material prices. The company reported group revenue of EUR 90.8 million, down from EUR 92.3 million in H1 2023, largely due to declining steel prices. However, EBITDA increased by 3.9 percent, reaching EUR 13.4 million, which boosted the EBITDA margin to 14.8 percent.

The core business of drum closure systems showed a positive trend, bolstered by increased sales volumes. This was in spite of a challenging market, especially in the UK and China, whereas Germany, the USA, Italy, and Spain performed robustly. In the liners product area, revenue saw a slight organic decline, but inorganic growth from acquisitions partially offset this downturn.

The outlook for the full year 2024 has been revised, with expected group revenue between EUR 170 to 185 million and EBITDA ranging from EUR 22 to 27 million. This projection assumes stable raw material prices and exchange rates throughout the remainder of the year.