HÖRMANN Industries publishes preliminary figures for the financial year 2021

• Sales and earnings growth compared to previous year
• Sales of EUR 590 million almost at pre-crisis level
• Earnings forecast for the full year 2021 exceeded

Kirchseeon, 31 March 2022 - HÖRMANN Industries GmbH (corporate bond, WKN: A2TSCH) today announced its preliminary figures for the past financial year. In 2021, the Group with an average of 2,830 employees generated consolidated sales of around EUR 590 million (previous year: EUR 522 million) and earnings before interest and taxes (EBIT) of around EUR 30 million (previous year: around EUR 13 million). After interest and taxes, a consolidated net income of around EUR 14 million (previous year: EUR 3.2 million) was achieved. As a result, the forecast range for total sales adjusted in November 2021 (EUR 565 million to EUR 590 million) was achieved at the upper end and the earnings forecast (EUR 25 million to EUR 27 million) was exceeded. HÖRMANN Industries benefited in particular from strong demand in the Communication and Engineering divisions as well as a slightly stabilised business development in the Automotive division.

Total assets of HÖRMANN Industries GmbH increased from around EUR 325 million to around EUR 341 million as of December 31, 2021, mainly due to the increase in working capital compared to the previous year's reporting date, which was mainly caused by growth and the associated increase in work in progress. The increased equity of approximately EUR 131 million (previous year: appr. EUR 121 million) contributed to an improved equity ratio of around 38% (previous year: around 37%) despite the increased balance sheet total.

Due to the great economic uncertainty caused by the COVID 19 pandemic, the current events in Ukraine and the associated supply bottlenecks, as well as rising material and energy prices, forecasts are currently subject to a very high degree of uncertainty. The management currently expects total sales for the current financial year to be at the level of the 2021 financial year. For the operating business, a declining EBIT is expected within a range of EUR 22 million to EUR 25 million. This forecast is based on the assumption that the customer-induced production stop or production cutback in the Automotive division/Truck product segment will be lifted again from May 2022 and that the economic situation in the Automotive division will stabilise.

The final consolidated financial statements of HÖRMANN Industries GmbH for the financial year 2021 will be published on 29 April 2022.
 

Contact:
HÖRMANN Holding GmbH & Co. KG
Hauptstr. 45-47
D-85614 Kirchseeon
T +49 8091 5630 0
F +49 8091 5630 195
info@hoermann-gruppe.com

Financial and business press:
IR.on AG
Frederic Hilke
T +49 221 9140 970
hoermann@ir-on.com

About the HÖRMANN Group
The HÖRMANN Group has grown steadily since its formation in 1955. HÖRMANN Holding GmbH & Co. KG is the parent company of 27 subsidiaries operating in the Automotive, Communication, Engineering and Services segments with a high degree of entrepreneurial initiative and independence. The HÖRMANN Group aims to offer its customers specific solutions and services that provide clear benefits and economic advantages. To achieve this, the HÖRMANN Group harnesses all of the broadly diversified and connected knowledge of its workforce of around 2,800 highly qualified employees across a wide range of technology areas.
https://www.hoermann-gruppe.com/en