Frauenthal Holding (FKA) H1 2024 earnings summary

Executive summary

• Revenue for H1 2024 declined by 9.3% year-over-year to €502.9m, driven by challenging market conditions in both divisions.

• EBITDA dropped to €18.2m, down €16.5m from H1 2023, mainly due to weaker performance in the Handel division.

• Net result turned negative at -€4.4m, compared to €11.9m profit in H1 2023.

• The group is returning to pre-pandemic levels after COVID-driven highs, facing a difficult adjustment phase.

Financial highlights

• Revenue: €502.9m (H1 2024), down €51.7m year-over-year.

• EBITDA: €18.2m, down €16.5m year-over-year.

• EBIT: €1.3m, down €17.3m year-over-year.

• Net result: -€4.4m (H1 2024) vs. €11.9m (H1 2023).

• Equity ratio: 34.8% as of June 30, 2024, down 3.3pp from year-end 2023.

Outlook and guidance

• Full-year 2024 results expected to be significantly below 2023 due to a challenging environment.

• No substantial improvement anticipated for the remainder of 2024.

• High volatility and uncertainty in both divisions, especially due to construction and automotive market trends.