Sales and operating profit lower than in the previous year period
June 16, 2023 at 12:33 am EDT
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Interroll Holding AG / Key word(s): Profit Warning
Sales and operating profit lower than in the previous year period
16-Jun-2023 / 06:30 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
Sant`Antonino, Switzerland, June 16, 2023. Despite a good start of the new year and a positive development in order intake compared to the second half of 2022, Interroll lowers its expectations for the operating result in the first half of 2023 and for the full year 2023 compared to the previous year.
After a promising start of the year, Interroll was initially cautiously optimistic for the financial year 2023, but has pointed out, that economic developments will need to be monitored. The year started with a lower order backlog and the inventory level for customers in the product business was significantly higher compared to the previous year. The forecast was that this reduction would be completed by the end of Q1 2023.
However, it has become apparent that there have been further postponements of end-customer projects, resulting in a delayed reduction of inventories. In addition, there is a general economic slowdown specifically in EMEA, while a recovery in Asia-Pacific is slow and delayed. The Americas region continues to develop positively.
Also the Swiss franc, due to its developments also has a not insignificant impact on the consolidated sales. The result for the first half of 2023 will therefore be lower compared to the previous year.
We continue to monitor the development of the pipeline and see the temporary postponement of projects as a consequence of the actual current demand. However, in the medium term, Interroll sees all fundamental drivers intact and an increased global demand for material handling solutions is expected. Interroll is therefore very well equipped for future growth with a leading technology platform and capacities.
Interroll Holding AG is a Swiss manufacturer of products and services for in-house logistics. The Companyâs business is structured into four product groups. The Rollers group focuses on the production of conveyor rollers. The Drives group manufactures motors and drivers for conveyors. The Conveyors & Sorters encompasses conveyor and sorter systems. The Pallet & Carton Flow group is engaged in the storage activities. The Company offers its products to couriers, express and postal services, airports, food processing, and distribution sectors. Its clients portfolio includes global brands, such as Amazon, Bosch, Coca -Cola, Coop, DHL, FedEx , Peugeot, PepsiCo, Procter & Gamble , Siemens, Walmart and Yamaha. Interroll Holding AG is engaged in global research projects in the field of logistics efficiency and supporting industry associations in the development of standards. In May 2014, the Company established its first sales unit in Portugal.