Ringmetall (HP3A) Q3 2024 earnings summary

Executive summary

• Group revenue remained stable despite a 1.0% decline to EUR 134.1 million, mainly due to lower raw material and steel prices.

• EBITDA increased by 3.6% to EUR 18.8 million, with a high EBITDA margin of 14.1%.

• The US market showed robust performance, while the UK market recovered after previous weakness.

Financial highlights

• Group revenue for 9M 2024 was EUR 134.1 million, down 1.0% year-over-year on a comparable basis.

• EBITDA reached EUR 18.8 million, up 3.6% year-over-year, with a margin of 14.1%.

• Gross profit increased by 1.4% to EUR 71.1 million, with the gross profit margin rising to 53.5%.

• EBIT was EUR 13.5 million, with an EBIT margin of 9.5%.

Outlook and guidance

• Full-year 2024 revenue is expected in the range of EUR 170 to 185 million, slightly narrowed from previous guidance.

• EBITDA guidance for 2024 is EUR 22 to 27 million, raised at the lower end.

• Guidance assumes stable raw material prices and exchange rates, excluding effects from planned acquisitions.