PAUL HARTMANN AG
Heidenheim (ots)
- Revenue increases due to pricing measures despite reduced market demand
- High additional material costs weigh on the result
- Transformation program continues and makes further contributions to earnings
In the first quarter of 2023, the sales and earnings level of the two previous quarters continued, as the business continued to be characterized by high additional material costs and reduced market demand. In particular, demand for disinfection products remained below pre-pandemic levels. Inflation also led to reduced purchasing power, which has a strong impact on the development of demand for branded consumer goods.
In the first three months of the 2023 financial year, the HARTMANN GROUP generated sales of EUR 583.5 million. This corresponds to an organic increase in sales of 3.4% compared to the same period of the previous year. Adjusted EBITDA was EUR 49.9 million, a decrease of EUR -3.6 million compared to the first quarter of 2022.
- The Incontinence Management segment increased its sales due to price adjustments and gains in market share in hospitals and nursing homes. However, the high additional material costs, among other things, had a negative impact on the result.
- The wound care segment grew primarily in the strategically important area of modern wound care.
- In the infection management segment, the general demand for disinfection products decreased in both inpatient and outpatient areas. High raw material prices could not be offset by price adjustments. There was also a drop in demand for examination gloves and protective clothing.
- In the segment of the group’s complementary divisions, KOB and CMC were only able to partially compensate for the cost increases in material, transport and energy through price adjustments. KNEIPP continued to be confronted with a shrinking market for Baden and an inflation-related shift away from branded products.
Despite the difficult market conditions, HARTMANN is continuing to focus on its transformation program. The program has already contributed EUR 100 million to profitability from the start in 2019 until the end of 2022. A further EUR 40 million is to be added in 2023. These significantly positive earnings contributions will become visible when the demand markets recover and the purchasing markets return to normal.
Based on current calculations, HARTMANN confirms its forecast for fiscal year 2023 with a decline in adjusted EBITDA of EUR 145 to 185 million and moderate organic sales growth.
HARTMANN once again fulfilled its social responsibility. As in the previous year, after the start of the Russia-Ukraine war, the company immediately supported the people affected by the earthquake disaster in Turkey and Syria with extensive donations in kind and money.
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