Palgon & Avemio AG: Financial Forecast Adjustment for 2023 Unveiled

• Avemio AG has adjusted its forecast for the 2023 financial year due to an unexpectedly weak final quarter in the trading business.
• The company now expects revenue of around EUR 103 million for the 2023 financial year, down from the previously forecasted EUR 120 million.
• Earnings before interest, taxes, depreciation and amortization (EBITDA) are now expected to be around EUR 0.8 million, down from the previously forecasted EUR 5.0 million.
• The company attributes the adjustment to the forecast to an unexpectedly weak final quarter and growing pressure on margins in the trading business.
• As of 31 December 2023, Avemio AG has a stable balance sheet structure with equity of around EUR 12.5 million, corresponding to an equity ratio of around 35%.
• Despite the current challenging market conditions, the Executive Board considers Avemio AG to be in a stable market position to benefit from the growth potential and the usual catch-up effects of the trading business when the economy recovers.