HÖRMANN Industries reports substantial sales and earnings growth in 2016

HÖRMANN Industries GmbH (formerly HÖRMANN Finance GmbH; German Securities Code Number (WKN) of corporate bond: A2AAZG) has presented its preliminary figures for the past financial year. The Group, which bundles the operating subsidiaries of the HÖRMANN Group and had around 2,800 employees in the 2016 financial year, generated consolidated sales of EUR 464.6 million (previous year: EUR 435.4 million) and EBIT of EUR 16.9 million (previous year: EUR 11.9 million). Consolidated income after interest and taxes amounted to around EUR 11 million (previous year: EUR 6.2 million). This meant the medium-sized conglomerate achieved substantially higher sales and earnings growth than originally forecast. This was mainly due to the pro rata sales and earnings contributions from the first-time consolidation of Funkwerk AG and VacuTec Messtechnik GmbH in the fourth quarter of 2016 and higher than expected organic growth in the Automotive and Engineering segments. Earnings also include non-recurring expenses of around EUR 4 million in connection with the adjustment of domestic staff capacities at Automotive sites in the form of provisions, which are necessary due to the planned expansion of automation and internationalisation.

The management of HÖRMANN Industries GmbH is forecasting consolidated sales of around EUR 480–490 million and operating EBIT in the region of EUR 12 million for the current 2017 financial year. The results of operations will be influenced to a significant extent my additional investments and non-recurring expenses for the relocation of production and reorientation in the Automotive segment.

HÖRMANN Industries GmbH’s finalised consolidated financial statements for the 2016 financial year will be published on 31 May 2017.