EQS-News Novem Group S.A.: HY 2022/23 figures show strong revenue growth in a demanding environment

• HY 2022/23 revenue of €359.3 million, +21.7% above HY 2021/22
• Adj. EBIT¹ of €41.5 million, +8.7% above HY 2021/22
• Newly won Opel flagship model Insignia underlines overall premiumisation trend
• Market remains difficult due to inflationary pressures and inefficiencies

Luxembourg, 30 November 2022 – Novem Group S.A. today published its half-year figures for the financial year 2022/23. In a demanding market environment, Novem generated a total revenue of €359.3 million in the first six months, up 21.7% compared to last year.

Strong revenue increase across all regions

In Q2 2022/23, total revenue of €177.4 million exceeded the previous year by 27.4%. Thereby, revenue Series contributed 88.2% to total revenue with a growth spurt of 24.3% year-on-year to €156.5 million. Also, revenue Tooling of €20.9 million was well above the same reporting period last year (+56.9% year-on-year). The growth was propelled by foreign exchange effects; total revenue in this year’s second quarter would have been lower by ‑7.1% at constant FX rates.

On a segmental basis, revenue in Q2 2022/23 increased across all regions (in total by €+38.2 million year-on-year). The favourable development in Europe (€+10.4 million year-on-year) was supported by strong revenue Tooling, while growth in Americas (€+14.4 million year-on-year) was mainly driven by brisk demand for SUVs and a positive FX impact from the US Dollar. The expansion in Asia (€+13.3 million year-on-year) was built on Series business, mainly attributable to the ramp-up of the BMW X5 platform localised in China and a favourable FX impact from the Chinese Renminbi.