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Bergisch Gladbach, 20 February 2025

INDUS publishes preliminary figures for the financial year 2024

- Sales in line with expectations at EUR 1.72 billion
- EBIT of EUR 126.7 million in a difficult economic environment
- EBIT margin at 7.4%

In the financial year 2024, sales and income of the INDUS Group developed as most recently expected. According to preliminary and unaudited figures, the portfolio companies generated sales of EUR 1.72 billion (previous year: EUR 1.80 billion) in a difficult economic environment. Operating income (EBIT) amounted to EUR 126.7 million (previous year: EUR 149.6 million). In its latest forecast, the company had projected sales of between EUR 1.70 billion and EUR 1.80 billion and operating income (EBIT) in the range of EUR 115 million to EUR 125 million. The EBIT margin stood at 7.4% in 2024 (previous year: 8.3%), which is in line with expectations of between 7.0% and 8.0%. Adjusted EBITA stood at EUR 153.7 million (previous year: EUR 188.1 million). The latter is calculated from the operating income (EBIT) plus impairment losses of EUR 6.7 million and depreciation /amortization on assets from the purchase price allocation for acquisitions (PPA depreciation) in the amount of EUR 20.3 million.

“Not all our portfolio companies can grow under the current difficult economic conditions,” says Dr. Johannes Schmidt, Chairman of the INDUS Board of Management. “However, we expect them to seize opportunities and show a respectable performance. They have passed this test and proved resilient in the face of weak market demand. In purely operational terms, both sales and income of the Group increased in the second half of the year.”

Despite weak demand in machinery and equipment, sales in the Engineering segment remained almost stable at EUR 596.7 million (previous year: EUR 599.6 million), while the operating income (EBIT) declined to EUR 45.7 million (previous year: EUR 57.0 million) due to the product mix and overall high price pressure. The development in the Materials segment was characterized by high volume declines and price pressure. Sales amounted to EUR 564.8 million (previous year: EUR 619.9 million) and the operating income (EBIT) stood at EUR 46.1 million (previous year: EUR 57.3 million). In an economically challenging market, sales in the Infrastructure segment amounted to EUR 559.5 million (previous year: EUR 582.2 million); the operating income (EBIT) rose nevertheless to EUR 52.3 million (previous year: EUR 49.3 million).

In 2024, INDUS continued to expand its portfolio with the acquisitions of GESTALT AUTOMATION, DECKMA, GRIDCOM and COLSON. Three further acquisitions were already made at the beginning of 2025. Rudolf Weichert, Chief Financial Officer and Deputy Chairman of the INDUS Board of Management: “Thanks to the good cash flow in the past financial year and very solid financing, INDUS is well positioned to make further promising acquisitions.” At 2.4, the debt repayment period, i.e. the ratio net debt/ EBITDA, was within the long-term target range of 2.0 to 2.5 years in 2024. The equity ratio increased from 37.3% on the prior year reporting date to 38.7%.

Schmidt: “By withdrawing from automotive series production and realigning our portfolio, we have paved the way for stronger growth. We are therefore confident about the current financial year despite the still fragile environment.”

The full financial statements for the financial year 2024 including the forecast for the financial year 2025 and the growth strategy 2030 are expected to be published on the company’s website on 24 March 2025.

Note:
This press release contains forward-looking statements. These statements are based on the current views, expectations and assumptions of the management of INDUS Holding AG and comprise known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. INDUS Holding AG assumes no obligation to update forward-looking statements.

Axel Meyer

COO Engineering
Axel Meyer (German citizen, born 1968) has been a member of the INDUS Board of Management since October 2017.

Until joining INDUS, he held various management positions at Schuler AG, most recently as Managing Director of Schuler Pressen and Head of the Service Division of the Schuler Group, Goeppingen, Germany.

Previously, Axel Meyer worked as a member of the Board of Management of the international management consultancy IMAGIN Prof. Bochmann AG, Eppstein im Taunus, Germany. He started his professional career in the Schuler Group's Solid Forming Division, initially in global sales and later as Division Manager.

Axel Meyer studied industrial engineering in Germany and the USA and earned a Master of Mergers & Acquisitions (LL.M.) at the Frankfurt School of Finance & Management while working. 

Gudrun Degenhart

COO Materials Solutions
Gudrun Degenhart (German citizen, born 1970) has been a member of the Board of Management of INDUS since October 2023.

She has more than 20 years of experience in the management and development of portfolio companies in Europe, USA and the Asia-Pacific regions.

Before joining INDUS, Gudrun Degenhart was CEO for the German portfolio companies of the international service group ISS. She previously worked for the thyssenkrupp Group, including as CEO of the international business unit for special lifts and as CEO of Materials Western Europe and Asia-Pacific. She gained experience in medium-sized companies as a board member of the construction technology company Schöck.

A graduate in business administration, she began her career by building up the Central and Eastern European activities of the construction specialist Lindner Group. 

Dr. Jörn Großmann

COO Infrastructure
Dr. Jörn Großmann (German citizen, born 1968) has been a member of the INDUS Board of Management since January 2019.

Up until joining INDUS, he worked for the Dutch group Aalberts Industries, with his last position being the sole managing director of Impreglon, Lüneburg, Germany.

He previously held various positions at the Georgsmarienhütte Group, initially becoming managing director of Mannstaedt, Troisdorf, Germany and later managing director of GMH Edelstahl Service Center Burg and GMH Engineering. Before Dr. Großmann became the managing director of Buderus Feinguss, Moers, Germany, he worked as a development engineer and as a technical director for Doncasters Precision Castings, Bochum, Germany.

He studied material sciences and earned a doctorate in the field of natural sciences.

Dr. -Ing. Johannes Schmidt

CEO
Dr. -Ing. Johannes Schmidt (German citizen, born 1961) has been a member of the Board of Management of INDUS since January 2006. He has assumed the position of CEO since July 2018.

Dr. -Ing. Schmidt was previously the sole managing director of ebm-papst Landshut, Germany, a manufacturer of ventilation motors and fans. During his tenure there, his main achievements included advancing the development of new product platforms and the internationalization of production sites.

Dr. -Ing. Schmidt began his career at Richard Bergner, a manufacturer of electrical instruments from Schwabach, Germany. He initially led product development before rising to the position of managing director during his 12 years at the company.

Schmidt, who studied mathematics, gained an engineering doctorate in mechanics from the Technical University of Darmstadt. 

Rudolf Weichert

CFO
Rudolf Weichert (German citizen, born 1963) is the CFO of INDUS.

Before joining the INDUS Board of Management in June 2012, he was a Partner at KPMG for nine years. He spent three of these years in Detroit, Michigan, United States, where he worked mainly with companies in the engineering, and materials trading industries.

Mr. Weichert, who holds a masters degree in business administration, worked for KPMG for about 20 years, primarily in the firm’s Duesseldorf office, where he worked mainly with multinational manufacturing corporations.