HÖRMANN Industries GmbH today published its financial results for the first half of 2024. In the first six months, the HÖRMANN Group's revenue fell by 12.1% to € 327.6 million (previous year: € 372.5 million). The decline was mainly due to the Automotive and Intralogistics divisions, which were impacted by the weak economic development in Germany and the associated uncertainty and reluctance to invest. As a result of the decline in sales, EBITDA also fell from € 15.1 million to € 8.8 million and EBIT from € 9.2 million to € 2.4 million in the first half of 2024 compared to the same period of the previous year.
Johann Schmid-Davis, CFO of HÖRMANN Industries GmbH: "In the first six months of 2024, we felt the effects of the difficult economic conditions and the reluctance to invest. Nevertheless, thanks to our stable net assets, financial position and results of operations, the cost-cutting measures we have introduced and our broad diversification, we are confident that we will successfully overcome the challenges in the 2024 financial year. In the future, we want to align the HÖRMANN Group with four profitable pillars with high future viability and resilience to economic fluctuations by further strengthening the Communication and Intralogistics divisions."
