Ringmetall (HP3A) H2 2024 earnings summary

Executive summary

• Preliminary 2024 revenue rose 0.9% year-over-year to EUR 174.9 million, driven by acquisitions amid a recessionary environment.

• EBITDA increased 1.7% to EUR 23.7 million, aided by cost management and a EUR 1.3 million bargain purchase from the FIB Beer Systems acquisition.

• Organic business declined slightly due to weak economic conditions and lower raw material prices, especially steel.

• U.S. and China markets performed well, while most European markets, particularly Germany, faced recessionary trends.

Financial highlights

• Revenue: EUR 174.9 million, up 0.9% year-over-year (2023 adjusted: EUR 173.3 million).

• EBITDA: EUR 23.7 million, up 1.7% year-over-year (2023 adjusted: EUR 23.3 million).

• Revenue and EBITDA met the lower end of 2024 guidance.

Outlook and guidance

• 2025 revenue guidance: EUR 180–200 million; EBITDA: EUR 21–28 million, assuming stable raw material prices and FX rates.

• Guidance excludes effects of planned acquisitions and related transaction costs.