hGears AG Group: On Track for 2024 Despite Ongoing Challenges

• hGears AG Group's Q1 2024 results are in line with expectations despite a challenging environment.
• The group's sales were EUR 26.0 million, 7.3% lower than the previous year.
• The positive development of e-Bike and [e]-Mobility only partially compensated for the downward trend in e-tools.
• Gross profit fell to EUR 11.6 million (margin 44.8%) mainly due to a lack of volume.
• The adjusted EBITDA fell to EUR 0.5 million, with the adjusted EBITDA margin reaching 2.0%.
• Refinancing for the next 3 years has been successfully completed.

The price of hGears at the time of the news was 2,5900EUR and did not change compared to the previous day.
22 minutes after the article was published, the price was 2,6350EUR this corresponds to a plus of +1,74 % since publication.

hGears

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ISIN:DE000A3CMGN3WKN:A3CMGN

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