EQS-News

Francotyp-Postalia announced financial results 2023

EQS-News: Francotyp-Postalia Holding AG / Key word(s): Annual Results Francotyp-Postalia announced financial results 2023 25.04.2024 / 08:00 CET/CEST The issuer is solely responsible for the content of this announcement. FP announced financial results 2023

Berlin, April 25, 2024 – Today, Francotyp-Postalia Holding AG (ISIN DE000FPH9000) announced its unaudited figures for the 2023 financial year.

In 2023 revenue decreased by 3.7% to EUR 241.8 million compared to EUR 251.0 million in 2022. On a constant currency basis, revenue amounted to EUR 245.9 million. This was at the lower end of the forecast range of EUR 245 to 255 million, as most recently specified.

Earnings before interest, taxes, depreciation and amortization (EBITDA) reached EUR 31.0 million compared to EUR 27.6 million in the previous year, with an EBITDA margin of 12.8%. On a constant currency basis, EBITDA was EUR 33.4 million. This exceeded the original forecast of EUR 28 to 31 million. EBITDA in 2023 includes the release of provisions in the amount of EUR 4.8 million due to changes and progress in restructuring plans. EBITDA in 2022 was also influenced by positive one-off effects.

Free cash flow increased to EUR 9.1 million in 2023 compared to EUR 8.1 million in the previous year due to the improved operating cash flow despite higher investments. Net debt was reduced by further 20.4% to EUR 14.4 million.

Solid business performance in all three business areas

Revenue development in all three business areas was largely in line with expectations.

Mailing, Shipping & Office Solutions generated revenue of 146.8 million euros compared to 148.4 million euros in the previous year. On a constant currency basis, revenue amounted to 150.4 million euros, slightly up on the previous year (1.3%). In addition, the previous year was positively impacted by one-off effects of 2.9 million euros due to the postal rate change in Germany. FP expanded its range of solutions in 2023 to include two new franking machine models, giving it an attractive product portfolio to hold its own in a challenging market environment.