Johann Schmid-Davis, CFO of HÖRMANN Industries GmbH: ‘In the first quarter of 2024, the surprisingly sharp decline in market demand for commercial vehicles weighed heavily on us and meant that our plans in the Automotive division were not fulfilled. However, we are confident that we will successfully overcome the challenges based on our stable net assets and financial position, taking into account the cost-cutting measures already initiated and with a view to the broad diversification of our business activities. We are also continuing to drive forward the realignment of the HÖRMANN Group in order to sustainably and continuously increase our profitability.’

Forecast for the full year 2024 reduced

As communicated in the ad hoc announcement of 27 May 2024, HÖRMANN Industries GmbH has reduced its sales and earnings forecast for the current 2024 financial year, taking into account and evaluating the new sales forecasts from the truck industry and the current order situation. The company now expects sales revenue of between € 680 million and € 700 million and earnings before interest and taxes (EBIT) of between € 16 million and € 20 million for the current financial year. Previously, sales of between € 700 million and € 730 million and EBIT of between € 22 million and € 24 million were expected.

The consolidated interim report for the period from 1 January to 31 March 2024 of HÖRMANN Industries GmbH is available at: https://www.hoermann-gruppe.com/en/investor-relations/financial-reports/financial-publications