HÖRMANN Industries publishes financial results for the first nine months of 2022

30 Nov 2022 09:26 CET

HÖRMANN Industries publishes financial results for the first nine months of 2022

• Strong sales increase by 9.5 % to EUR 470.7 million compared to the previous
year, in particular due to inflation-related price increases
• EBITDA and EBIT of EUR 12.5 million and EUR 3.8 million respectively below
previous year (EBITDA: EUR 31.2 million; EBIT: EUR 22.2 million)
• Forecast for the full year 2022 confirmed

Kirchseeon, 30 November 2022 - HÖRMANN Industries GmbH (corporate bond, WKN:
A2TSCH) today published its financial results for the first nine months of 2022.
In the reporting period, the Group's sales increased from EUR 430.0 million to
EUR 470.7 million compared to the same period last year. However, the sales
increase was mainly the result of inflation-related price increases. For
example, the sales of the Automotive business division alone (9M 2022: EUR 288.7
million) include nearly EUR 30 million of material price increases that are not
recognised in profit or loss. In the Communication business division, sales of
EUR 117.7 million was at the level of the previous year (9M 2021: EUR 120.0
million). As a result of the establishment of the new Intralogistics division,
all companies of the former Services division as well as the subsidiaries
HÖRMANN Logistik GmbH, Klatt Fördertechnik GmbH, HÖRMANN Logistik Polska Sp. z
o.o., and HÖRMANN Logistik Systeme GmbH from the Engineering division were
integrated into the new division. With sales of EUR 15.1 million, excluding the
aforementioned subsidiaries, the Engineering division is slightly below the
first three quarters of the 2021 financial year (9M 2021: EUR 16.7 million,
as-if). The new Intralogistics division generated sales of EUR 49.2 million in
the reporting period (9M 2021: EUR 39.6 million, as-if).

Earnings before interest, taxes, depreciation and amortisation (EBITDA) of the
HÖRMANN Group decreased in the reporting period to EUR 12.5 million (9M 2021:
EUR 31.2 million), while operating earnings before interest and taxes (EBIT)
amounted to EUR 3.8 million (9M 2021: EUR 22.2 million). The first nine months
of 2022 closed with a consolidated net loss of EUR 3.4 million (9M 2021:
consolidated net profit of EUR 15.3 million). The result was burdened in
particular by production interruptions, price increases for material and energy
purchases, and project delays due to material shortages in the Automotive
business division.

Johann Schmid-Davis, CFO of HÖRMANN Industries GmbH: "Our broad positioning with
four business divisions has once again provided us with a stable foundation in
this so far challenging year with high inflation and supply chain disruptions. I
would like to thank all our employees who have worked hard to ensure that we can
announce a positive operating result after nine months. We expect that this
year's challenges will also weigh on us in the coming year, but we are confident
that we will continue to develop positively in the future thanks to our four
pillars."

Forecast for the full year 2022 confirmed

At Group level, HÖRMANN Industries GmbH expects sales of around EUR 630 million
(2021: EUR 589.8 million) for the full year 2022 after assessing the current
order situation and business development. A positive result before interest and
taxes (operating EBIT) of around EUR 20.5 million (2021: EUR 30.0 million) is
targeted for the operating business. The achievement of this sales and earnings
forecast is largely subject to the fulfilment of the latest call-off forecasts
by our customers, the granting of price compensation by OEMs in the Automotive
division, and the implementation of project orders in the Communication and
Intralogistics divisions as planned, which will require timely supply of
materials and completion of upstream work.

The consolidated interim report for the period from 1 January to 30 September
2022 is available at
https://www.hoermann-gruppe.com/en/investor-relations/financial-reports/financia
l-reports.

Contact:
HÖRMANN Industries GmbH
Hauptstr. 45-47
D-85614 Kirchseeon
T +49 8091 5630 0
F +49 8091 5630 195
info@hoermann-gruppe.com

Financial and business press:
IR.on AG
Frederic Hilke
T +49 221 9140 970
hoermann@ir-on.com


About the HÖRMANN Group
The HÖRMANN Group has grown steadily since its formation in 1955. HÖRMANN
Industries GmbH is the parent company of 33 subsidiaries operating in the
Automotive, Communication, Intralogistics, and Engineering segments with a high
degree of entrepreneurial initiative and independence. The HÖRMANN Group aims to
offer its customers specific solutions and services that provide clear benefits
and economic advantages. To achieve this, the HÖRMANN Group harnesses all of the
broadly diversified and connected knowledge of its workforce of around 2,800
highly qualified employees across a wide range of technology areas.
www.hoermann-gruppe.com

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