11.08.2023 – 08:05
PAUL HARTMANN AG
Heidenheim (ots)
Moderate organic revenue growth In the first half of 2023, adjusted EBITDA was above the same period of the previous year and above expectations The forecast for the full 2023 financial year is confirmed Transformation program creates a solid basis for further development
In the first six months of the 2023 financial year, the HARTMANN GROUP generated sales of EUR 1,165.3 million. This corresponds to moderate organic sales growth of 3.6% compared to the same period of the previous year. Some of the markets relevant to HARTMANN are still below pre-pandemic levels. Adjusted EBITDA was EUR 92.7 million, an improvement of EUR 4.2 million compared to the same period in 2022.
HARTMANN continued to successfully implement targeted price adjustments and cost measures. The initiatives to develop innovative products and services continued unchanged. The company also continued to focus on its transformation program. In 2023 alone, it will contribute around EUR 40 million to adjusted EBITDA.
The positive effect of some slightly declining raw material prices on HARTMANN’s earnings remained limited for various reasons. The company no longer benefited from contracts with cheaper purchase prices that expired at the end of 2022, which were still below the level of the current conditions. In addition, there was recently an extensive increase in stocks to ensure the ability to deliver at higher material costs than the currently valid ones.
In the incontinence management segment, sales in the hospital business increased. Against the background of increased material costs, the company implemented targeted price adjustments. The wound care segment continued to grow, especially in the strategically important area of modern wound care. Traditional wound care also developed positively. In the infection management segment, demand for disinfection products and gloves continued to fall due to a declining market. In the segment of the Group’s Complementary Divisions, CMC was able to record a positive sales development due to price increases. These were only able to partially compensate for the cost increases. At KOB, the area of compression bandages in particular developed positively. KNEIPP continued to be confronted with a shrinking market for bathing applications and additional material costs.
The significantly positive earnings contributions of the transformation program, which will add up to EUR 140 million by the end of 2023, as well as numerous product launches in the second half of the year form a solid basis for the further development of HARTMANN. Improve new products e.g. B. the quality of life with different degrees of severity of incontinence and support the treatment of wounds that are difficult to heal. Important prerequisites for future growth, however, remain the recovery of the demand markets and the normalization of the purchasing markets.
HARTMANN is currently confirming its forecast for the 2023 financial year with an adjusted EBITDA of EUR 145 to 185 million and moderate organic sales growth.
Press contact:
Stephanie Reuter
PAUL HARTMANN AG
Tel. +49 7321 36 13 93
E-Mail: [email protected]
Original content from: PAUL HARTMANN AG, transmitted by news aktuell