Simona AG Full-Year Report 2023

Plastics industry in Germany The plastics processing industry in Germany recorded a decline in sales revenue in 2023, according to the German Plastics Processing Industry Association (Gesamtverband Kunststoffverarbeitende Industrie e. V. – GKV). Revenue fell by around six per cent compared to the previous year, taking the total to €72.5 billion. The overall volume processed plunged by as much as 9 per cent. In assessing the cause of the decline in revenue, the association points to the unfavorable macroeconomic conditions currently plaguing Germany’s industrial sector.

highlights

• Revenues
• within the business lines The Industry business line generated revenue of €227.5 million (previous year: €266.0 million), a decline in revenue of –14.5 per cent. The Advertising & Building business line achieved revenue of €87.8 million (previous year: €111.3 million; –21.2 per cent). The Infrastructure business line recorded revenue of €103.0 million (previous year: €122.3 million; –15.8 per cent). The Mobility business line achieved an increase in revenue to €77.9 million (previous year: €70.6 million; 10.3 per cent). The remaining revenues from various other fields of application and trade are summarized under “Others” and amounted to €103.9 million (previous year: €141.8 million)

• FINANCIAL PERFORMANCE
• Group EBIT fell slightly by –2.1 per cent from €54.1 million to €52.9 million. At 8.8 per cent, the EBIT margin was up on the figure of 7.6 per cent recorded in the previous financial year. Despite a significant decline in revenue, the slight nominal reduction in Group EBIT is attributable primarily to an improved cost-of-materials ratio. At the same time, lower volumes led to a reduction in variable other expenses. At €75.9 million, EBITDA was slightly higher year on year (previous year: €75.5 million) due to higher depreciation, amortisation and write-downs. This corresponds to a higher EBITDA margin of 12.7 per cent (previous year: 10.6 per cent). The return on capital employed (ROCE) was 11.2 per cent (previous year: 11.4 per cent).
• FINANCIAL POSITION
• Total Group assets as at 31 December 2023 amounted to €611.2 million, compared to €621.1 million in the previous year.
• Changes to assets
• The assets side of the balance sheet is mainly characterized by a reduction in intangible assets, inventories and customer receivables, while property, plant equipment and cash and cash equivalents trended higher. Intangible assets totaled €93.7 million (previous year: €96.2 million) and consisted primarily of goodwill from the corporate acquisitions in the United States, Norway, Türkiye and the United Kingdom. This item also includes the respective customer base and other intangible assets from previous years’ acquisitions totalling €30.3 million (previous year: €33.4 million)