Simona Half-Year Report 2024
In the first half of 2024, the SIMONA Group generated sales revenue of €298.0 million in total. Compared to the same period in the previous year (€319.8 million), this represents a decline in revenue of –6.8 per cent. This was attributable primarily to the product mix and lower sales prices, with sales volumes remaining at the previous year’s level. In the second quarter of 2024, revenue amounted to €152.1 million, which corresponds to a decline in revenue of –1.7 per cent compared to the same quarter last year (€154.8 million). While business declined in EMEA and the Americas, revenue remained stable in the Asia-Pacific segment
Highlights
- Revenue and earnings down in first half
- With the exception of Advertising & Building, the Group’s business lines recorded declines in revenue in the first six months of 2024. The Industry business line generated revenue of €109.9 million (previous year: €123.5 million), a reduction of –11.0 per cent.
- Earnings In the first half of 2024, Group earnings before interest and taxes (EBIT) declined from €25.8 million a year ago to €21.0 million. The EBIT margin for the period under review stood at 7.1 per cent (previous year: 8.1 per cent).
- EBITDA fell from €36.9 million to €32.9 million. The EBITDA margin declined from 11.6 per cent in the previous year to 11.1 per cent
- Group ROCE for the first six months stands at 4.1 per cent (previous year: 5.2 per cent); due to factors relating to the reporting date, ROCE as at 30 June 2024 is below the figure for the annual period as a whole
- Changes to assets Intangible assets amounted to €97.6 million (31 December 2023: €93.7 million), consisting mainly of goodwill and customer bases from prior-year acquisitions.
- Cash flows In the first half of the year, the inflow of cash from operating activities (gross cash flow) was €17.6 million (previous year: €21.0 million). The decline is mainly due to higher inventories and customer receivables, offset by lower tax payments.
