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    EQS-News  132  0 Kommentare Novem Group S.A.: HY 2022/23 figures show strong revenue growth in a demanding environment - Seite 2

    In the first six months of its financial year, Novem achieved an increased Adj. EBIT of €41.5 million (PY: €38.2 million), translating into an Adj. EBIT margin of 11.5%. The buoyant sales trend across all regions was a key driver of this improved profitability. While inflation remained a major concern with higher material prices, energy costs and logistic expenses, Novem received its first compensation payments from OEMs in the second quarter. In addition, bottom line was positively influenced by Asia, which rebounded sharply after the pandemic-related restrictions in the last quarter.

    Significantly increased free cash flow and stable level of capex

    While being slightly negative in the preceding quarter, free cash flow1 turned positive in the second quarter of financial year 2022/23, with Novem generating a free cash flow of €22.8 million and outperforming the previous year by €22.0 million.

    Capital expenditure1 of €3.8 million in Q2 2022/23 recorded almost on the same level as previous year (PY: €3.6 million). Because of the higher top line, the capex ratio decreased to 2.2% of revenue (PY: 2.6%).

    Increased working capital

    As of 30 September 2022, total working capital1 stood at €156.2 million, equalling a rise of 12.1% year-on-year. The deviation of €-16.9 million mainly resulted from trade receivables (€-22.0 million) due to higher revenue and inventories (€-4.5 million) relating to customer safety stock requirements. Conversely, the variance was narrowed down by extended trade payables (€+8.2 million) and lower tooling net (€+2.8 million).

    Improved net leverage ratio despite first-time dividend payout

    Gross financial debt1 remained at prior year’s level, while cash balances increased significantly. Principal sources of funds were cash in the amount of €113.5 million (PY: €71.4 million) and non-recourse factoring of €48.7 million (PY: €51.5 million). Net financial debt1 as of 30 September 2022 recorded at €168.9 million and improved considerably versus last year (€210.3 million). The net leverage ratio1 of 1.5x reached the lowest level in the last twelve months despite paying a dividend of €17.2 million in August 2022.

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    EQS-News Novem Group S.A.: HY 2022/23 figures show strong revenue growth in a demanding environment - Seite 2 EQS-News: Novem Group S.A. / Key word(s): Quarter Results/Half Year Results Novem Group S.A.: HY 2022/23 figures show strong revenue growth in a demanding environment 30.11.2022 / 09:00 CET/CEST The issuer is solely responsible for the content of …