R&S Group announces preliminary 2023 topline results and increases FY 2024 guidance

R&S Group Holding AG / Key word(s): Sales Result R&S Group announces preliminary 2023 topline results and increases FY 2024 guidance 24-Jan-2024 / 07:00 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Ad hoc announcement according to Art. 53 LR

R&S Group announces preliminary 2023 topline results and increases FY 2024 guidance

• FY 2023 Net Sales of CHF 216.7 million, resp. CHF 201.6 million excl. divested business, equivalent to organic sales growth of 30%
• Order Backlog of CHF 185.7 million at year-end, an increase of 16.9%
• Guidance for FY2024 increased to Net Sales growth of 9%-12% (up from 8%-10%) and an EBIT margin in the range of 16%-18% (so far 15%)

Sissach/BL, Switzerland, 24 January 2024 – R&S Group Holding AG (SIX: RSGN), a leading provider of electrical infrastructure components in focus markets in Europe and the Middle East, today announced preliminary unaudited sales results for the full year (FY) 2023. Net sales for FY 2023 amounted to CHF 201.6 million, corresponding to a growth of 30% when excluding SERW, the fully divested high-voltage switches business in the Czech Republic. The achieved sales level is in line with the revised guidance of “above CHF 200 million” of 5 December 2023 thanks to very positive business performance in the Group’s focus markets. In particular, markets in Europe with renewables and wind farms performed well. These positive business developments are testimony to the positive mega trends of decarbonization, decentralization and modernization and the encouraging momentum in the Group’s end markets which is expected to continue unabatedly.

Thanks to the good business dynamics, R&S Group closed the year with a record order backlog of CHF 185.7 million, up from CHF 158.9 million at year-end 2022 (+16.9%), which bodes well for the expected development in 2024 and beyond.

The above are pre-consolidated figures which do not yet include the costs associated with the business combination with VT5. Certain costs from this merger are to be booked as non-operating.