Adhoc: Interroll Holding AG: Solid performance in a slightly improving environment

Interroll Holding AG / Key word(s): Half Year Results
Solid performance in a slightly improving environment

02-Aug-2024 / 06:30 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.

---

Sant'Antonino, Switzerland, August 2, 2024. Interroll's result rose by 8.5% to CHF 23.9 million. Order intake amounted to CHF 286.5 million and sales to CHF 247.4 million.

Our numbers at a glance
Interroll generated an order intake of CHF 286.5 million (-5.1% year-on-year, -1.0% in local currency) in the first half year 2024. Sales amounted to CHF 247.4 million (-3.5% year-on-year, +0.1% in local currency). The first half year 2024 was marked by a rebound in the product business compared to the second half year 2023 as the destocking phase ended. The gains in the product business are encouraging and partially mitigate the absence of bigger projects.

In the Europe, Middle East and Africa (EMEA) region, we achieved improvements for all our product groups. In the Americas region, the trend for products is moving in a positive direction and is steadily gaining momentum, reflecting increased market demand and positive customer reactions. In the Asia-Pacific (APAC) region, we are seeing a diverse landscape with promising projects emerging in Australia and South Korea.

Earnings before interest, taxes, depreciation and amortization (EBITDA) were higher at CHF 41.0 million (previous year: CHF 39.9 million). EBITDA margin increased to 16.6% (previous year: 15.6%). Earnings before interest and taxes (EBIT) reached CHF 29.9 million, up by 4.0% compared to the previous year (CHF 28.7 million). EBIT margin increased to 12.1% (previous year: 11.2%).

The result increased by 8.5% to CHF 23.9 million (previous year: CHF 22.0 million) and was positively impacted by the financial results and burdened by a higher tax ratio compared to the previous year. The result margin reached 9.7% (previous year: 8.6%). Gross investment amounted to CHF 8.5 million (previous year: CHF 17.1 million). Free cash flow decreased to CHF 11.1 million (previous year: CHF 60.0 million), mainly due to the change in net working capital.

Updates from our regions
The EMEA region generated an order intake of CHF 172.6 million, up by 17.0% compared to the previous year (CHF 147.5 million). Sales generated CHF 148.8 million, an increase of 6.1% compared to the previous year (CHF 140.2 million). The EMEA region continues to be our most important region with a 60% share of global sales. The order intake for the Americas region reached CHF 81.7 million, -30.0% compared to the previous year (CHF 116.7 million). Sales amounted to CHF 75.6 million, -1.0% less compared to the previous year (CHF 76.3 million). The Americas region continues to be our second most important region with 31% share of Global Sales. The APAC region generated a lower order intake of CHF 32.2 million compared to the previous year (CHF 37.7 million), which corresponds to a loss of -14.4%. The sales amounted to CHF 23.0 million, a decrease of -42.0% compared to the previous year (CHF 39.7 million).

Sales by product
Sales for the Rollers product group amounted to CHF 53.1 million, down by -2.4% compared to the previous year's figure of CHF 54.4 million. The order intake for Rollers amounted to CHF 53.2 million, up by+8.4% compared to the same period last year (CHF 49.0 million). Sales of the Drives product group amounted to CHF 93.5 million in the first half of 2024, which is an increase of +5.2% year-on-year compared to same period last year (CHF 88.8 million). The order intake for the Drives product group amounted to CHF 98.3 million, up by +12.4% compared to (CHF 87.5 million) in the same period last year.

The Conveyors & Sorters product group generated sales of CHF 82.4 million in the first half of 2024, -12.7% less compared to previous year (CHF 94.3 million). Order Intake amounted to CHF 106.3 million, which had a negative development of -25.5% compared to the same period last year (CHF 142.6 million).

For our Pallet Handling product group, Interroll generated sales of CHF 18.4 million, which is -1.4% down compared to last year (CHF 18.7 million). The order intake amounted to CHF 28.7 million, an increase of +26.4% compared to the previous year (CHF 22.8 million).

Innovation
At the LogiMAT trade fair (Germany) in March, we introduced our new, highly energy-efficient vertical small wheel sorter (MC-Vs). Featuring a small footprint and ensuring high throughput, this solution is suitable for applications and sectors in which careful handling and sorting of fragile items is required.

Acquisition
On July 31, 2024, Interroll signed a share purchase agreement to take over Interroll India Pvt. Ltd. in Bengaluru (Bangalore), India, retroactive as per April 1, 2024. The three current shareholders sell all their shares to the Interroll Group. The parties have agreed not to disclose the purchase price. Interroll India Pvt. Ltd. acted for more than 10 years as independent agent of the Interroll Group. With this acquisition, Interroll will strengthen its market position in the Indian market.

Outlook
Looking ahead, we are encouraged by our worldwide resilient customer base. We continue to progress on the recovery journey. For the EMEA region, we are cautiously optimistic that the ongoing challenges in the project business will come to an end, following the rebound we are now seeing in product sales. In the Americas region, we also foresee continued growth in product sales with further opportunities in Canada and in Brazil. Looking at the APAC region, in general we predict a slower recovery. In South Korea, we see promising opportunities in the third-party logistics (3PL) segment. With our innovative product platforms and production capacities, we are very well positioned in our regions to meet future market demands and ready to seize opportunities when the market fully recovers.

---

End of Inside Information

---

Language:	English
Company:	Interroll Holding AG
	Via Gorelle 3
	6594 S.Antonino
	Switzerland
Phone:	[phone]
Fax:	[phone]
E-mail:	[e-mail]
Internet:	www.interroll.com
ISIN:	CH0006372897
Valor:	637289
Listed:	SIX Swiss Exchange
EQS News ID:	1958517

End of Announcement	EQS News Service

---

1958517 02-Aug-2024 CET/CEST