EQS-Adhoc: Leifheit Aktiengesellschaft: Preliminary earnings before interest and taxes (EBIT) and preliminary free cash flow in Q2 2023 and H1 2023 significantly above previous year’s figures

Leifheit Aktiengesellschaft: Preliminary earnings before interest and taxes (EBIT) and preliminary free cash flow in Q2 2023 and H1 2023 significantly above previous year’s figures

Nassau (Germany), 19 July 2023 - According to today’s preliminary calculations Leifheit AG (ISIN DE0006464506) expects Group earnings before interest and taxes (EBIT) in the second quarter 2023 of EUR 2.4 million (Q2 2022: EUR -0.5 million). In the first half of business year 2023 EBIT therefore reached EUR 4.8 million, an increase of 123 % compared to the previous year’s figure (H1 2022: EUR 2.1 million).

Group EBIT was mainly affected by an increase in gross margin due to sales price increases and positive product mix effects by focusing on profitable products with successful TV advertising campaigns, as well as slightly declining procurement and energy costs, which nevertheless remain at a high level. At the same time, strict cost and resource management supports the positive development of earnings. This was counteracted by a high negative foreign currency result.

A further positive effect came from the slight increase of Group turnover by 1.3 % in the first six months of business year 2023, among other things, due to the acquisition of new trade customers. Despite the persistently weak consumer climate in important core markets, Group turnover of EUR 138.1 million thus was achieved (H1 2022: EUR 136.3 million). In the second quarter 2023 Group turnover reached EUR 67.8 million (Q2 2022: EUR 64.5 million).

In the first half of 2023, free cash flow increased by EUR 18.1 million from EUR -10.5 million in the comparable period of the previous year to EUR 7.6 million. An improvement in working capital, especially the reduction in inventories, significantly contributed to this. In the second quarter 2023 free cash flow reached EUR 11.0 million (Q2 2022: EUR 5.1 million).

The information on the development in the second quarter 2023 and in the first half of 2023 is based on preliminary calculations. Therefore, there may be deviations from this information in the figures that will be published in the quarterly statement on August 10, 2023.

1683901  19-Jul-2023 CET/CEST