KME Group (KME) H2 2024 earnings summary

Executive summary

• Revenues declined by 17% year-over-year to €1,565.4 million, mainly due to a 24.5% drop in volumes sold.

• EBITDA fell to €99.7 million, down €34.8 million from 2023, but profitability was maintained through commercial strategy and cost containment.

• Net loss before IFRS impacts and write-downs was €30.6 million, attributed to parent company financial expenses; IFRS net loss was €70.9 million.

• Major acquisitions included Sundwiger Messingwerk GmbH and a controlling stake in Azienda Metalli Laminati SpA.

• Delisting and reverse merger plans were postponed due to market conditions and recent acquisitions.

Financial highlights

• Consolidated equity stood at €270.3 million, down from €358.8 million at year-end 2023.

• Reclassified net financial position was €260.5 million, stable year-over-year.

• Operating profit (EBIT) was €54.0 million, compared to €79.3 million in 2023.

• Net financial debt at group level was €367.5 million, nearly unchanged from €369.3 million in 2023.

• Parent company reported a net loss of €25.1 million, versus €14.5 million loss in 2023.

Outlook and guidance

• Business outlook depends on demand trends in KME SE's sectors and broader macroeconomic conditions.

• Potential disposals of non-core assets in the copper sector could positively impact group debt.

• Delisting and merger timelines extended to the second half of 2025 due to ongoing uncertainty.