R&S Group announces organic net sales growth of 15% and operating performance above expectations 24.07.2024, 06:30 Uhr von EQS News Jetzt kommentieren: 0

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R&S Group Holding AG / Key word(s): Quarterly / Interim Statement
R&S Group announces organic net sales growth of 15% and operating performance above expectations

24-Jul-2024 / 06:30 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.


Ad hoc announcement pursuant to Art. 53 LR

R&S Group announces organic net sales growth of 15% and operating performance above expectations

  • Half-year 2024 net sales of CHF 109.9 million, equivalent to organic sales growth of 15% versus H1 2023
  • Order intake of CHF 141.0 million, an increase of 18% year-on-year
  • Order backlog of CHF 218.2 million at end of June, 25% higher than at 30 June 2023
  • Operating performance in H1 2024 clearly above expectations

24 July 2024 – R&S Group Holding AG (SIX: RSGN) today announced preliminary unaudited net sales for the first half year (H1) 2024. H1 2024 net sales amounted to CHF 109.9 million, corresponding to an organic growth of 15% if excluding SERW, the fully divested high-voltage switches business in the Czech Republic, in H1 2023.

The positive momentum in R&S Group’s focus markets is also confirmed by the strong development in order intake which grew by 18% to CHF 141.0 million during H1 2024, resulting in a book-to-bill ratio of 1.3. Thanks to the good business dynamics, R&S Group closed the period with a record order backlog of CHF 218.2 million (+25%), compared to CHF 174.6 million (adjusted) as of 30 June 2023 and CHF 185.7 million (adjusted) as of 31 December 2023.

R&S Group has been increasing its production capacities to meet the growing demand and will take another important step by the opening of a new plant in Bochnia near Krakow in Poland which is slightly delayed due to late machine deliveries (production start now expected in October 2024). First customer orders have been placed with initial deliveries during the fourth quarter of 2024.

R&S Group expects to report higher than expected tax expenses due to a non-recurring tax payment of CHF 3.7 million relating to previous tax periods. Nevertheless R&S Group confirms its full year 2024 guidance of net sales growth above 12%*), an EBIT margin of around 20% and a free cash flow margin in the mid-teens double-digit range as percent of net sales.

The performance of the operating business in H1 2024 was clearly above expectations and the achievements demonstrate that the Group is well on track to meet its guidance published on 17 May 2024.

Further information will be provided on 11 September 2024 with the publication of the H1 2024 financial report.
 

Consolidated key figures      
In MCHF H1 2023
reported
H1 2023
adjusted 1
H1 2024
reported 1
Change in adjusted figures
Order intake 133.3 119.3 141.0 18%
Order backlog 188.1 174.6 218.2 25%
Net sales 103.0 95.4 109.9 15%

1 without figures of plant in Czech Republic (SERW), which was divested on Dec. 5, 2023
*) compared to adjusted 2023 net sales of CHF 201.6 million (excluding figures of SERW)


Calendar 2024
11 September  2024 half-year results
31 October  Capital Markets Day
 

Contact Investor and Media Relations
Doris Rudischhauser
Phone: +41 79 410 81 88
Email: investors@the-rsgroup.com

 
About R&S Group

R&S Group Holding AG (“R&S Group”, the “company”) is headquartered in Sissach/BL, Switzerland. With six manufacturing facilities in Switzerland, Italy, Poland and the Middle East, R&S Group serves its domestic and various European export markets with small and medium power and distribution transformers and other components in the utility, infrastructure and industrial sectors. The company has been successfully positioned to benefit from the accelerating demand for energy production and distribution, driven by the global trend towards decarbonization. R&S Group has been listed on SIX Swiss Exchange on 13 December 2023 under the ticker symbol RSGN following its successful business combination with VT5 Acquisition AG, a previously Swiss-listed Special Purpose Acquisition Company (SPAC).

Further information about the R&S Group can be found at www.the-rsgroup.com.


Disclaimer
This communication expressly or implicitly contains certain forward-looking statements concerning R&S Group Holding AG and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of R&S Group Holding AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. R&S Group Holding AG is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.


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End of Inside Information
Language: English
Company: R&S Group Holding AG
Zentrum Staldenbach 3
8808 Pfäffikon SZ
Switzerland
E-mail: investors@the-rsgroup.com
Internet: www.the-rsgroup.com
ISIN: CH1107979838, CH1108008082
Listed: SIX Swiss Exchange
EQS News ID: 1952499

 
End of Announcement EQS News Service

1952499  24-Jul-2024 CET/CEST

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