EQS-News

Novem Group S.A.: HY 2023/24 figures show solid profit margin in demanding environment - Seite 2

Strong free cash flow and elevated capex

With a free cash flow of €22.3 million in the second quarter of 2023/24, Novem operated at a comparable level to prior year (€22.8 million). With this contribution, free cash flow for HY 2023/24 totalled €33.5 million, which marked a sharp rise of 64.5% y/y.

As of 30 September 2023, capital expenditure¹ of €4.6 million exceeded last year’s level by €0.7 million and the underlying capex ratio rose to 2.7% (PY: 2.2%).

Reduced working capital and robust net leverage

Total working capital¹ as of 30 September 2023 recorded at €136.3 million notably below last year (-12.8%). The favourable deviation of €20.0 million can be attributed mainly to lower tooling net, trade receivables and inventories.

Compared to last year, gross financial debt¹ and cash balances rose in Q2 2023/24. Novem reached a robust cash position of €136.6 million despite the extraordinary dividend payment of €49.5 million in August 2023. Net leverage ratio¹ of 1.4x stood slightly below last year’s level (1.5x Adj. EBITDA¹).

The interim statement for the first half of the financial year 2023/24 can be found on the Investor Relations website at Reports & Presentation.

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1   For the definition/calculation of the used Alternative Performance Measures (APMs), please refer to the glossary provided in the corresponding interim statement for the first half of financial year 2023/24, which can be found on the Investor Relations website under Reports & Presentation.

About Novem

Luxembourg-headquartered Novem is a globally leading supplier of decorative interior trim parts for the premium automotive industry. Across the range of key materials such as genuine wood, aluminium, carbon and premium synthetics, the Company offers unrivalled quality, technology and innovation to a growing customer base including all major premium carmakers worldwide. Founded in Vorbach, Germany, back in 1947, the Company has continuously expanded its global footprint in Germany, Italy, Czech Republic, Slovenia, China, USA, Honduras and Mexico. Novem employs about 5,500 people at 12 locations and achieved revenue of around €700 million in FY 2022/23.