Elma Interim Results 2024: Elma starts successfully into 2024 and increases net sales and profitability considerably
CH-Wetzikon, August 15, 2024 – The Elma Group had a successful start into 2024. In the first half of 2024, Elma recorded net sales on record level and also significantly increased profitability. Thanks to a further easing in the supply chain situation and the optimization of production processes, Elma was able to significantly improve their delivery performance to customers. Order income decreased slightly in all regions but was still at a solid level. Inventories were reduced in the first half of 2024 year on year. The number of employees remained unchanged compared to the end of 2023.
One of Elma Group’s mid-term goals is to build a new headquarters at the Wetzikon site in Switzerland. This will further expand system integration and electronic design in Switzerland. The construction planning has progressed as planned and the project is now taking concrete shape. In order to position the Elma Group for the future, sustainability is one of the strategic pillars and is anchored in the organization. In the annual sustainability report, Elma will provide information about their sustainability performance in the areas of Environment, Social and Governance (ESG).
─ Elma continues to grow
─ Net sales increased by 15.5% to CHF 91.8 mn (previous year: CHF 79.5 mn); adjusted for currency effects +17.6%
─ Order income in the first half of the year down 6.0% at CHF 91.6 mn (previous year: CHF 97.4 mn); adjusted for currency effects -4.3%
─ EBIT improved to CHF 6.0 mn (previous year: CHF 0.7 mn) thanks to higher deliveries in the systems business in all three regions
─ Profit increased to CHF 4.5 mn (previous year: CHF 0.6 mn)
─ Net debts reduced to CHF 11.0 mn (previous year: CHF 14.0 mn) thanks to higher cash and repayment of short-term bank liabilities
─ Equity ratio improved to 51.0% (December 31, 2023: 48.6%)
Elma Electronic is a global manufacturer of electronic packaging products for the embedded systems market – from components, backplanes, power supply solutions, storage boards and chassis platforms to fully integrated systems. To ensure our integrated solutions are optimized to our customers’ needs, Elma partners with leading board manufacturers in the industry. Elma also provides enclosure solutions and rotary switches for demanding applications for electronic companies. The company has a broad base of proven standard products which can be tailored to individual applications: Elma offers services from the initial concept to volume production. Elma’s reliable solutions, flexibility, and design expertise are key reasons why the leading companies in the world choose Elma time and again.
This communication contains statements that constitute “forward-looking statements”. In this communication, such forward-looking statements include, without limitation, statements relating to our financial condition, results of operations and business and certain of our strategic plans and objectives. Because these forward-looking statements are subject to risks and uncertainties, actual future results may differ materially from those expressed in or implied by the statements. Many of these risks and uncertainties relate to factors which are beyond Elma’s ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behavior of other market participants, the actions of governmental regulators and other risk factors detailed in Elma’s past and future filings and reports and in past and future filings, press releases, reports and other information posted on Elma Group companies’ websites. Readers are cautioned not to put undue reliance on forward-looking statements, which speak only of the date of this communication. Elma disclaims any intention or obligation to update and revise any forward-looking statements, whether as a result of new information, future events or otherwise.