Interroll (INRN) H2 2023 earnings summary

Executive summary

• FY2023 order intake CHF 519.7m, down 9.2% reported and 3.9% in local currency; sales CHF 556.3m, down 16.3% reported and 11.7% in local currency.

• Book-to-bill improved to 0.93 from 0.86 in 2022, while sales remained below the prior year.

Financial highlights

• EBIT CHF 83.9m, down 20.2%; EBIT margin 15.1% vs. 15.8% in 2022.

• EBITDA CHF 106.3m, down 17.8%; EBITDA margin 19.1% vs. 19.5%.

• Result CHF 66.3m, down 19.9%; result margin 11.9% vs. 12.5%.

• Operating cash flow CHF 113.2m, up 58.5%; free cash flow CHF 91.1m, with respective margins of 20.4% and 16.4%.

Outlook and guidance

• Priorities include a strong innovation pipeline, digital sales platform, Global Lifetime Service, transformation, and software and controls development.

• Strategic focus includes deepening technology platforms, accelerating customer projects, sustainability and energy savings, cost fitness, and business excellence.