Einhell Germany (EIN) Q3 2024 earnings summary

Executive summary

• Achieved record revenue of EUR 839.3 million for the first nine months of 2024, up 11.1% year-over-year and surpassing 2022's record period.

• Net income after minority interest rose to EUR 50.4 million, with EPS at EUR 4.5, reflecting an 18.4% increase year-over-year (adjusted for share split).

• Power X-Change products drove growth, now accounting for about 50% of total revenue.

• Group is debt-free on balance, with cash and cash equivalents exceeding bank liabilities.

Financial highlights

• Revenue: EUR 839.3 million (Q1–Q3 2024) vs. EUR 755.8 million (Q1–Q3 2023), up 11.1%.

• EBIT: EUR 76.4 million, up 12.4% year-over-year.

• EBT: EUR 72.7 million, up 15.8% year-over-year; EBT margin at 8.7%.

• Cash and cash equivalents: EUR 100.5 million, more than double prior year.

• Equity ratio: 46.3% (down from 48.2% year-over-year).

Outlook and guidance

• Full-year 2024 revenue forecast raised to EUR 1,070 million (prior year: EUR 972 million).

• EBT margin expected at 8.0%–8.5% (prior year: 7.8%).

• Optimism for continued growth in 2025 despite subdued consumer sentiment and challenging macroeconomic conditions.