Half Year 2024 Interroll Holding AG Earnings Call Transcript
Key Points
- Interroll Holding AG (IRRHF) saw a rebound in product sales in the first half of 2024, partially mitigating the absence of bigger projects.
- The EBIT increased by 4% to CHF29.9 million, driven by favorable raw material prices and high cost discipline.
- The EBITDA margin improved from 15.6% to 16.6%, indicating better operational efficiency.
- The company maintained a strong equity ratio of 73.9%, showcasing financial stability.
- Interroll Holding AG (IRRHF) is well-positioned to meet future demand with innovative product platforms and production capacities.
- Order intake decreased by 5.1% compared to the first half of 2023, with foreign exchange effects having a strong negative impact.
- Sales decreased by 3.5%, with significant declines in the Americas and Asia Pacific regions.
- Operating cash flow dropped significantly to CHF16.2 million from CHF75.2 million a year ago due to an increase in net working capital.
- The Conveyors & Sorters product group saw a 25.5% decline in order intake, reflecting challenges in this segment.
- The company anticipates a slower recovery in the APAC region and expects overall more of the same for the next six months rather than a strong rebound.
Thank you for the introduction. Good morning, ladies and gentlemen. With me is Julia Weinhart, our Head of Communications and Investor Relations. We welcome you to our half year results presentation 2024, and we are glad that we have so many participants this morning. The agenda of today, I will first show a quick group overview then the financials of the first half year '24, followed by a Q&A live.
For organizational purposes, we decided not to offer the chat to ask written questions. Interroll is playing in a niche in the material handling equipment manufacturing market in the segment of internal logistic solutions, even though the entire material handling equipment manufacturing market was about CHF200 billion and is expected to grow at an average cover of 6% until 2030.
Our relevant market is estimated CHF6 billion to CHF8 billion worldwide. Our market share is between 8% to 11%, pretty much stable. Here is not much of which has changed in the first six months of '24, there only changes
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