Half-year figures 2023/24: Net profit slightly above previous year despite lower sales

Hamburg, May 29, 2024

• Group sales in the first half of the year fell by 14% year-on-year to EUR 129.3 million
• Group EBIT fell by 3% to 10.7 million euros
• Half-year net profit increased by 1% to 7.1 million euros

Edel SE & Co. KGaA (WKN 564950) from Hamburg recorded a 14% drop in sales in the first half of the 2023/24 financial year (01.10.2023 - 31.03.2024). The company generated sales of EUR 129.3 million compared to EUR 150.9 million in the first half of the previous year 2023. Net profit for the first half of the year remained at the same level at EUR 6.1 million compared to EUR 6.0 million (+1%). After deducting minority interests, net profit for the year amounted to 5.8 million euros compared to 5.7 million euros (+3%) in the same period of the previous year.

The results of the interim consolidated financial statements in detail:

At 15.4 million euros, EBITDA was 2% down on the previous year (first half of the previous year: 15.8 million euros), while EBIT also fell by 3% to 10.7 million euros (first half of the previous year: 11.0 million euros). Consolidated net income (before minority interests) amounted to EUR 6.1 million after EUR 6.0 million in the first half of the previous year. Consolidated net income after minority interests amounted to EUR 5.8 million (first half of the previous year: EUR 5.7 million). Half-year earnings per share remained unchanged at EUR 0.27 compared to the first half of the previous year. The equity ratio rose to 26.9%.

Cash flow from operating activities fell slightly by EUR 0.7 million to EUR 12.9 million (first half of the previous year: EUR 13.5 million). Cash flow from investing activities rose from EUR -6.3 million to EUR -11.6 million. Due to the repayment of loan liabilities and increased interest costs for drawn credit lines, cash flow from financing activities amounted to EUR -6.1 million (first half of the previous year: EUR -5.5 million).

The first half of 2023/24 was similarly challenging to the second half of 2022/23, particularly in vinyl production. The business was strongly characterized by declining volumes, and price reductions for raw materials were passed on to partners. However, the company was able to further expand its market positions in many content areas and increase profitability.

Dr. Jonas Haentjes, CEO: "In the first half of 2023/24, we had to cope with a decline in sales, particularly in the manufacturing business. Thanks to our strong digital business in all our Music & Entertainment divisions and an optimized book business, we were able to compensate for this development very well. Together with our partners, artists and authors, we are optimistic about the second half of the year."