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Earnings Release • Jan 24, 2024
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Earnings Release
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News Details
Ad-hoc | 24 January 2024 07:00
R&S Group announces preliminary 2023 topline results and increases FY 2024 guidance
R&S Group Holding AG / Key word(s): Sales Result
24-Jan-2024 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
Ad hoc announcement according to Art. 53 LR
R&S Group announces preliminary 2023 topline results and increases FY 2024 guidance
- FY 2023 Net Sales of CHF 216.7 million, resp. CHF 201.6 million excl. divested business, equivalent to organic sales growth of 30%
- Order Backlog of CHF 185.7 million at year-end, an increase of 16.9%
- Guidance for FY2024 increased to Net Sales growth of 9%-12% (up from 8%-10%) and an EBIT margin in the range of 16%-18% (so far 15%)
Sissach/BL, Switzerland, 24 January 2024 – R&S Group Holding AG (SIX: RSGN), a leading provider of electrical infrastructure components in focus markets in Europe and the Middle East, today announced preliminary unaudited sales results for the full year (FY) 2023. Net sales for FY 2023 amounted to CHF 201.6 million, corresponding to a growth of 30% when excluding SERW, the fully divested high-voltage switches business in the Czech Republic. The achieved sales level is in line with the revised guidance of “above CHF 200 million” of 5 December 2023 thanks to very positive business performance in the Group’s focus markets. In particular, markets in Europe with renewables and wind farms performed well. These positive business developments are testimony to the positive mega trends of decarbonization, decentralization and modernization and the encouraging momentum in the Group’s end markets which is expected to continue unabatedly.
Thanks to the good business dynamics, R&S Group closed the year with a record order backlog of CHF 185.7 million, up from CHF 158.9 million at year-end 2022 (+16.9%), which bodes well for the expected development in 2024 and beyond.
The above are pre-consolidated figures which do not yet include the costs associated with the business combination with VT5. Certain costs from this merger are to be booked as non-operating.
As a result of the positive outlook, the Group revises its revenue guidance and now expects net sales to grow at a rate of 9%-12% in FY 2024, up from 8-10% as communicated previously, and an increased EBIT margin from previously 15% to a range between 16% and 18%.
Further information will be provided on 21 March 2024 with the publication of preliminary unaudited 2023 key figures for R&S Group.
Calendar 2024
21 March Preliminary 2023 key figures
17 April 2023 full-year results
28 May Annual General Meeting
24 July Trading update
11 September 2024 half-year results
Contacts
Investor Relations
Doris Rudischhauser
Phone: +41 79 410 81 88
Email: [email protected]
Media
Nicolas Weidmann
Phone: +41 79 372 29 81
Email: [email protected]
About R&S Group
R&S Group Holding AG (“R&S Group”, the “company”) is headquartered in Sissach/BL, Switzerland. With six manufacturing facilities in Switzerland, Italy, Poland and the Middle East, R&S Group serves its domestic and various European export markets with small and medium power and distribution transformers and other components in the utility, infrastructure and industrial sectors. The company has been successfully positioned to benefit from the accelerating demand for energy production and distribution, driven by the global trend towards decarbonization. R&S Group has been listed on SIX Swiss Exchange on 13 December 2023 under the ticker symbol RSGN following its successful business combination with VT5 Acquisition AG, a previously Swiss-listed Special Purpose Acquisition Company (SPAC).
Further information about the R&S Group can be found at www.the-rsgroup.com .
Disclaimer
This communication expressly or implicitly contains certain forward-looking statements concerning R&S Group Holding AG and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of R&S Group Holding AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. R&S Group Holding AG is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
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File: R&S Group announces preliminary 2023 topline results and increases FY 2024 guidance
End of Inside Information
| Language: | English |
| Company: | R&S Group Holding AG |
| Churerstrasse 25 | |
| 8808 Pfäffikon SZ | |
| Switzerland | |
| E-mail: | [email protected] |
| Internet: | www.the-rsgroup.com |
| ISIN: | CH1107979838, CH1108008082 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 1821383 |
| End of Announcement | EQS News Service |