Katjes International grows by 28.1%

Sales and EBITDA margin thus above the forecast corridor

28-Mar-2024

Katjes International closed the 2023 financial year very successfully in a persistently challenging market environment and exceeded the forecast, which had already been raised in the course of the year. The audited consolidated financial statements for the corresponding reporting period, prepared in accordance with International Financial Reporting Standards (IFRS), were published today.

Group sales increased by 28.1% from EUR 294.5 million to EUR 377.4 million in the 2023 financial year, exceeding the guidance of EUR 350-375 million already raised in the interim consolidated financial statements. Operating profit (EBITDA) amounted to EUR 40.8 million (previous year: EUR 37.3 million). The EBITDA margin is a key performance indicator for Katjes International. In the reporting period, this amounted to 10.8% (previous year: 12.7%) and was therefore also above the forecast corridor of 9-10%.

Group equity increased to EUR 175.8 million as at the reporting date of December 31, 2023, while the equity ratio remained stable at a comfortable level of 36.8%.

In September 2023, the outstanding EUR 110 million bond from 2019 was refinanced ahead of schedule and the volume of the new bond issued in September was increased by EUR 5 million to a total of EUR 115 million due to high demand. The good response to the first exchange offer to existing investors and the first opportunity to subscribe via the issuer's website was pleasing. The demand from institutional investors in the international private placement was also very pleasing. In this respect, the management of Katjes International, as with the three previous bond placements, draws a very positive résumé of this bond 2023/2028, which was issued for the first time as a so-called "Nordic Bond".

Building on its strong brand portfolio and the goal of achieving further growth both through acquisitions and organically, the company is optimistic about the future. Group sales of EUR 390 million to EUR 420 million and an EBITDA margin of between 9% and 10% are forecast for the current financial year.

Note: This article has been translated using a computer system without human intervention. LUMITOS offers these automatic translations to present a wider range of current news. Since this article has been translated with automatic translation, it is possible that it contains errors in vocabulary, syntax or grammar. The original article in German can be found here.

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