Phoenix Mecano: Rising to Profitability with a Sharper Focus

• Phoenix Mecano Group achieved consolidated gross sales of EUR 783.1 million in financial year 2023, a decrease of 1.2% from the previous year.
• Net sales fell from EUR 784.4 million to EUR 775.5 million, a decrease of 1.1%. Incoming orders also decreased by 2.8% from EUR 804.1 million to EUR 781.5 million.
• The unaudited operating cash flow (EBITDA) rose by 9% to around EUR 85 million. The provisional operating result (EBIT) increased significantly again to around EUR 62 million, a 16% increase.
• The DewertOkin Technology (DOT) Group division saw a sales increase of 6.5% to EUR 330.4 million. The Industrial Components division saw a decline in sales by 12.8% to EUR 223.1 million. The Enclosure Systems division saw a slight increase in gross sales to EUR 229.7 million.
• Phoenix Mecano is responding to weaker demand in some sectors by adjusting its capacities in line with incoming orders. The DewertOkin Technology Group saw a marked upturn in order momentum in the fourth quarter.
• Phoenix Mecano's management and Board of Directors are cautiously optimistic for the 2024 financial year, despite the challenging environment. The main focus will remain on increasing profitability to achieve the medium-term targets.

The next important date, Quarterly report, at Phoenix Mecano is on 26.04.2024.