Vitesco Technologies Group Kicks Off Fiscal Year 2024 with Strong Quarterly Results

• Vitesco Technologies reports solid Q1 2024 results with sales of around €1.99 billion, down from €2.31 billion in Q1 2023
• Adjusted EBIT for Q1 2024 is €33.0 million, up from €30.8 million in Q1 2023, with an adjusted EBIT margin of 1.7 percent, up from 1.4 percent in Q1 2023
• The company reported an order intake of €708 million, with around 40 percent in the electrification business
• Vitesco Technologies confirms its outlook for fiscal year 2024
• The company's net income for Q1 2024 was €22.7 million, a significant improvement from a net loss of €50.7 million in Q1 2023
• The company's free cash flow stood at -€90.6 million in Q1 2024, compared to -€41.1 million in Q1 2023.

The price of Vitesco Technologies Group at the time of the news was 71,65EUR and was down -0,07 % compared with the previous day.
42 minutes after the article was published, the price was 71,70EUR this corresponds to a plus of +0,07 % since publication.
At this time, the index SDAX was at 14.758,46PKT (+1,52 %).

Vitesco Technologies Group

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ISIN:DE000VTSC017WKN:VTSC01

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