Palgon-Backed Avemio AG Maintains Growth Trajectory Amid 2023 Forecast Adjustment, Eyes M&A Opportunities

• Avemio AG adjusts its forecast for the 2023 financial year due to a weak final quarter in the trading business.
• The company plans to accelerate the realization of planned synergies from acquisitions and the integration of existing subsidiaries to strengthen profitability.
• The market weakness presents attractive opportunities for M&A activities.
• The weak final quarter is a result of reduced customer spending and declining investment propensity in the industry.
• Avemio AG's largest trading company, Teltec AG, was able to prevent a significant drop in revenue but experienced a fall in gross margins.
• Avemio AG has solid financing with equity of around EUR 12.5 million and additional credit lines, providing a foundation for further company growth.