EQS-News
STEMMER IMAGING: expectedly challenging market environment in Q1 2024 - positive signals in order intake – Full-year forecast confirmed
- Challenging market in Q1 2024
- Order intake up to EUR 33.1 million
- Full-year forecast confirmed
EQS-News: STEMMER IMAGING AG / Key word(s): Quarter Results/Quarterly / Interim Statement Puchheim, May 8, 2024 |
STEMMER IMAGING: expectedly challenging market environment in Q1 2024 - positive signals in order intake – Full-year forecast confirmed
Puchheim, May 8, 2024 – STEMMER IMAGING AG (ISIN DE000A2G9MZ9 / GSIN A2G9MZ) publishes its figures for the first quarter of 2024 today.
- Increase in order intake to EUR 33.1 million compared to the two previous quarters
- Due to market conditions revenue reduced by 31.9% to EUR 27.5 million (Q1 2023: EUR 40.4 million) compared to strong prior-year quarter
- Further increase in gross margin to 39.9% (Q1 2023: 39.1%)
- EBITDA margin at 14.9% (Q1 2023: 18.2%): EBITDA at EUR 4.1 million (Q1 2023: EUR 7.4 million, -44.4%)
- Operating cash flow up by 70.6% to EUR 9.4 million (Q1 2023: EUR 5.5 million)
- Full-year forecast confirmed
- Successful closing of the acquisition of Phase 1 Technology Corp., New York, USA
As expected, STEMMER IMAGING navigated through a challenging market environment in the first quarter 2024. Order income increased to EUR 33.1 million compared to the third and fourth quarters of 2023, providing positive signals for the further course of business. At the same time, revenue reduced by 31.9% to EUR 27.5 million compared to a strong first quarter of the previous year. The renewed gross margin increase to 39.9% and the improved cost structure resulting from the efficiency measures implemented in the last fiscal year (quarterly effect of EUR 1.6 million) had a mitigating effect on the profitability caused by the decline in business, resulting the EBITDA to reduce by 44.4% to EUR 4.1 million. The company once again reported strong key figures with an operating cash flow of EUR 9.4 million. The acquisition of Phase 1 Technology Corp. in New York, USA, was successfully completed as planned at the beginning of May 2024. The full-year forecast is confirmed.