EQS-News

Leifheit AG on track for growth again in financial year 2023

EQS-News: Leifheit Aktiengesellschaft / Key word(s): Annual Report/Annual Results Leifheit AG on track for growth again in financial year 2023 27.03.2024 / 08:05 CET/CEST The issuer is solely responsible for the content of this announcement. Leifheit AG on track for growth again in financial year 2023

• Group turnover up 2.7% to EUR 258.3 million in 2023
• Group EBIT rises significantly to EUR 6.0 million in spite of compensation payment and other expenses associated with the change in the Board of Management amounting to EUR 2.7 million
• Sharply improved free cash flow reaches EUR 12.1 million
• Dividend of EUR 0.95 plus special dividend of EUR 0.10 per dividend-entitled bearer share proposed
• Forecast for 2024: slight growth in Group turnover, Group EBIT between EUR 10 million and EUR 12 million expected
• Company strategy to be revised with focus on profitable long-term growth

 

Nassau, 27 March 2024 – Leifheit AG (ISIN DE0006464506), one of the leading brand suppliers of household goods in Europe, has logged a successful financial year 2023 in spite of subdued consumer mood and achieved the turnover and earnings forecast for 2023 that was recently adjusted upwards. Thus, the Leifheit Group achieved turnover of EUR 258.3 million (2022: EUR 251.5 million). This corresponds to an increase in turnover of 2.7% compared to the previous year. Targeted marketing campaigns in selected sales markets, product innovations and the successful expansion of distribution were especially important in contributing to the company’s success.

Group earnings before interest and taxes (EBIT) rose significantly to EUR 6.0 million (2022: EUR 2.8 million), although earnings were affected by compensation payment and other expenses associated with the change in the Board of Management amounting to EUR 2.7 million and by procurement and energy costs that, while slightly lower, still hovered at a high level.

The clear uptick in earnings was primarily the result of rising turnover and the increase in the gross margin due to sales price adjustments and positive product mix effects. Rigorous lean management in production and logistics also allowed the company to realize productivity gains and positive cost effects.