EQS-News

Ringmetall expands earnings margins in the first quarter against the background of declining steel prices

EQS-News: Ringmetall SE / Key word(s): Quarter Results Ringmetall expands earnings margins in the first quarter against the background of declining steel prices 07.05.2024 / 07:00 CET/CEST The issuer is solely responsible for the content of this announcement. Ringmetall expands earnings margins in the first quarter against the background of declining steel prices

- Group revenue stable organically at EUR 45.6 million, but down slightly due to steel prices
- EBITDA of EUR 6.3 million slightly above adjusted previous year's level
- EBITDA margin increases to 13.9 percent; outlook confirmed

Munich, 7 May 2024 - Ringmetall SE (ISIN: DE000A3E5E55), a leading international specialist supplier in the packaging industry, successfully stabilized its business development overall in the first quarter of 2024. However, declining steel prices combined with an almost unchanged organic revenue development resulted in a noticeable expansion of earnings margins.

At EUR 45.6 million, Group revenue was -4.5 percent below the adjusted prior-year level (Q1 2023, adjusted for HSM's contribution: EUR 47.8 million). "In order to be able to better classify our current business development, we refer in this presentation to the previous year's figures for revenue and EBITDA on an adjusted basis, meaning without the respective contribution of our former Group subsidiary HSM, which was sold on 30 June 2023," explains Christoph Petri, Spokesman of the Management Board of Ringmetall SE. "For the sake of order, however, we are also presenting the previous year's figures reported in accordance with IFRS in tabular form." While Group revenue was almost unchanged from the previous year in purely organic terms, the negative effects on revenue from falling steel prices were much more pronounced than the positive effects on revenue from company acquisitions.

At EUR 6.3 million, earnings before interest, taxes, depreciation and amortization (EBITDA) were 1.7 percent higher than the adjusted prior-year level (Q1 2023, adjusted for the HSM contribution: EUR 6.1 million). The EBITDA margin in relation to total output increased to 13.9 percent (Q1 2023, adjusted for the HSM contribution: 12.6 percent), mainly due to the steel price-related decline in Group revenue.