This announcement is a summary of Norrhydro´s Financial Statement Bulletin, period January-
https://www.norrhydro.com/en/investors-reports-and-presentations
Topics in Financial Statements Bulletin
July-
- Turnover decreased 8.0 % to
EUR 12,044 (13,088) thousand -
EBITDA was
EUR -312 (36) thousand - EBITDA margin was -2.6 % (0.3 %)
-
Operating profit was
EUR -973 (-457) thousand -
Loss for the period was
EUR-1,579 (-735) thousand -
Earnings per share were
EUR -0.145 (-0.07) -
Diluted earnings per share were
EUR -0.137
January-
- Turnover increased 2.2 % to
EUR 30,365 (29,705) thousand -
EBITDA was
EUR 1,055 (1,697) thousand - EBITDA margin was 3.5 % (5.7 %)
-
Adjusted EBITDA was
EUR 2,327 thousand - Adjusted EBITDA margin was 7.7 %
-
Operating loss was EUR
EUR -258 (825) thousand -
Loss for the period was
EUR -1,443 thousand , -4.8 % of the turnover -
Adjusted loss for the period was
EUR -171 thousand , -0.6 % of the turnover -
Earnings per share were
EUR -0.133 (0.004) -
Diluted earnings per share were
EUR -0.125 -
Adjusted earnings per share were
EUR -0.016 - Return on equity was -14.7 % (0.48 %)
- Equity ratio was 35.0 % (38.3 %)
-
Cash flow from business operations was
EUR 306 (-582) thousand -
Company has booked a one-time reduction in the obsolescence of exchange assets of
EUR 872 thousand , with no effect on cash flow. In addition, a one-time expense ofEUR 400 has been booked related to ramp-up of the new production facility - The Board of Directors proposes no dividend to be paid
Thousand euros | 1 July –31 Dec. 2023 | 1 July –31 Dec.2022 |
| 1 Jan. –31 Dec. 2023 | 1 Jan. –31 Dec. 2022 | Change |
Turnover | 12,044 | 13,088 | -8.0 % | 30,365 | 29,705 | 2.2 % |
EBITDA | -312 | 36 | -973.6 % | 1,055 | 1,697 | -37.9 % |
EBITDA, % | -2.6 % | 0.3 % |
| 3.5 % | 5.7 % |
|
Adjusted EBITDA |
|
|
| 2,327 |
|
|
Adjusted EBITDA, % |
|
|
| 7.7 % |
|
|
Operating profit | -973 | -457 | -113,2 % | -258 | 825 | -131,2 % |
Operating profit, % | -8.1 % | -3.5 % |
| -0.8 % | 2.8 % |
|
Result for the financial period | 1,579 | -735 |
| 1,443 | 43 |
|
Result for the financial period, % | -13,1 % | -5.6 % |
| -4,8 % | 0.1 % |
|
Adjusted result for the financial period |
|
|
| -171 |
|
|
Adjusted result for the financial period, % |
|
|
| -1.2 % |
|
|
Cash flow for business operations |
|
|
| 306 | -582 |
|
Return on investment, % |
|
|
| -1.3 % | 4.2 % |
|
Return on equity, % |
|
|
| -14.7 % | 0.4 % |
|
Equity ratio, % |
|
|
| 35,0 % | 38.3 % |
|
Current ratio |
|
|
| 1.14 | 1.53 |
|
Quick ratio |
|
|
| 0.29 | 0.53 |
|
Earnings per share, undiluted € | -0.145 | -0.07 |
| -0.133 | 0.004 |
|
Earnings per share, diluted, € | -0.137 | -0.07 |
| -0.125 | 0.004 |
|
Adjusted EPS, € |
|
|
| -0.016 |
|
|
Personnel at the end of the period |
|
|
| 168 | 175 |
|
* Company has booked a one-time reduction in the obsolescence of exchange assets of
Estimate of probable future development and guidance for 2024
Estimating the development of the Groups net sales in the current, still uncertain global economic situation is challenging. The Group aims to continue its growth-oriented strategy and expand its business by increasing its market share in the hydraulic cylinder market and by launching new digital, energy-efficient and intelligent products and services into the market. Depended on the market situation allows, growth is expected to accelerate significantly over the next few years as a result of the additional capacity offered by the new production facility and the launch of the above-mentioned digital products and services. The Group's target for 2028 is net sales of over
Due to the weak market situation, the company expects net sales in 2024 to be lower than in 2023 (EUR 30,365 thousand) and reported EBITDA to be better than in 2023 (EUR 1,055 thousand).
Board of Directors report
The company's majority owner and Chairman of the Board Yrjö Trög continued as CEO from
Yrjö Trög
Chairman of the Board, CEO
Release Event
Norrhydro Group Plc´s Financial Statement 2023 will be released on webcast on Friday 23rd
Yrjö Trög, Chairman of the Board and CEO of
Presentation and webcast recording are available afterwards in Norrhydro´s website:
https://www.norrhydro.com/en/investors.
Further information:
Yrjö Trög
Chairman of the Board, CEO
Puh. +358 400 291 229
Email: yrjo.trog@norrhydro.com
Certified advisor:
Jari Lauriala, Managing Partner
Tel. +358 40 091 8855
Email: jari.lauriala@translinkcf.fi
Tel. +358 400 735 835
Email: sami.miettinen@translinkcf.fi
Distribution:
Nasdaq Helsinki Oy
Key media
https://www.norrhydro.com/en
Contacts
- Yrjö Trög, Toimitusjohtaja ja hallituksen puheenjohtaja,
Norrhydro Group Oyj , +358 400 291 229, yrjo.trog@norrhydro.com
Attachments
- Download announcement as PDF.pdf
- NHG_Financial Statement Bulletin_2023.pdf
© STT Info Finland, source