Half Year 2024 DKSH Holding AG Earnings Call Transcript
Key Points
- Net sales grew by 3.3% at constant exchange rates to CHF5.4 billion.
- Core EBIT increased by 8.2% to CHF163.6 million, marking the highest ever core EBIT in the first half of 2024.
- Free cash flow reached CHF160.8 million, with a cash conversion rate of 136%.
- DKSH Holding Ltd (DKSHF) achieved a Great Place to Work certification in nine markets and improved employee engagement.
- The company continues to expand its portfolio with new partnerships and acquisitions, including Medipharm and Elite Organic.
- Ongoing headwinds from different currencies impacted the external environment.
- Net sales were affected by a 6.5% FX impact due to the strengthening of the Swiss franc.
- Performance Materials faced a challenging macroeconomic environment with declining net sales.
- The Consumer Goods segment experienced top-line pressure despite achieving a mid-term core EBIT margin target.
- Interest charges and tax rates remain areas of concern, with a tax rate estimated to stay within 27% to 29%.
Good morning, everybody. It's a pleasure to welcome you all on behalf of DKSH. As Sandra said, my name is Till Leisner. I'm Head of Investor Relations, and I'm very happy to have with me today Ido Wallach our CFO, and Stefan Butz, our CEO.
Before we start, please have a look at the disclaimer of the presentation regarding forward-looking statements and for those who do not have the presentation in front of them. You will find them on the web and the Investor Relations section at Dksh.com. With that short intro, I'd like to hand over to Stefan. Thank you very much.
Thanks, Till. Good morning, and welcome, everyone, to the presentation of our half year results 2024. Thank you for joining us today. As we review the highlights and progress our company has achieved during the first half of this year.
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