hGears AG 2023: Surpassing Cash Flow Predictions, Stable EBITDA Despite Revenue Dip

• hGears AG Group's preliminary 2023 free cash flow was significantly better than the management's guidance, despite a marginal miss in revenues.
• The Group generated revenues of EUR 112.5 million in 2023, a marginal (-2.2 %) below the guided range of EUR 115 – 123 million.
• hGears achieved an adjusted EBITDA of EUR 5.6 million, within the guided range of EUR 5 – 9 million.
• In 2023, hGears Group achieved a negative free cash flow of EUR 3.1 million, significantly better than the guided negative EUR 9 - 12 million bandwidth.
• The Company generated a positive free cash flow in the second half of 2023, resulting in cash and cash equivalents of EUR 26.6 million and a net debt position of EUR 3.4 million at year-end.
• The company will publish its full Annual Report 2023 on Wednesday, 27 March 2024, and subsequently host a live webcast with the management team.

hGears

-7,41 %

-5,66 %

+2,04 %

-22,36 %

-55,67 %

-90,64 %

ISIN:DE000A3CMGN3WKN:A3CMGN

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