Tesa SE Annual Report 2023

In the 2023 fiscal year, the tesa Group posted an operating result (EBIT, excluding non-recurring effects) of € 266.2 mil- lion, which was € 12.3 million (-4.4%) lower than in the previ- ous year.

The operating result including non-recurring effects (EBIT) increased to € 271.5 million (+3.0%). The non-recurring effects totaling € 5.3 million (previous year: € -14.9 million) largely consist of proceeds from insurance benefits pertaining to the technical incident at tesa plant Concagno worth € 24.2 million. These were offset with ex- penses for compensation of the damage totaling € 10.2 mil- lion. The figure also reflects expenses from the depre- ciation of goodwill from nie wieder bohren GmbH of € 4.2 million and the depreciation of intangible assets of tesa Twinlock B.V. of € 4.5 million which had been covered together with the goodwill in the context of the purchase price allocation in the past. The goodwill of tesa Twinlock B.V. was fully written off in the course of the 2022 fiscal year.

While gross profit from sales totaled € 762.9 million (+2.9% ), the result from operating expenses and income excluding non-recurring effects changed by a total of 7.3% to € -496.7 million in 2023 (previous year: € -463.1 million). The tesa Group completed the fiscal year with net profit of € 175.9 million (+3.3%).

Sales revenue for the year was on par with the previous year. The cost of goods sold, on the other hand, decreased by € 21.6 million (-2.3%) to € 904.6 million. This develop- ment is largely attributable to price adjustments.

The EBIT margin excluding non-recurring effects was 16.0% (previous year: 16.7%). Taking non-recurring effects into account, the EBIT margin came to 16.3% (previous year: 15.8%).

Marketing and selling expenses, research and develop- ment costs, and general administrative costs increased by a total of € 35.4 million to € 493.9 million. This increase is largely attributable to investments in innovation, sustain- ability, and digitalization in key strategic areas for tesa.

The financial result decreased relative to the previous year by € 3.6 million to € -9.2 million due to exchange rate effects.

The 2023 fiscal year saw taxes on income decrease by a total of € 1.4 million to € 86.4 million (previous year: € 87.8 million).

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