HÖRMANN Industries GmbH (corporate bond, ISIN: NO0012938325) has today published its 2025 annual financial statements. In a still challenging economic environment, the HÖRMANN Group outperformed the wider economy and was able to further increase its profitability.
Dr. Michael Radke, CEO of HÖRMANN Industries GmbH: "We can look back with great satisfaction on a very successful financial year 2025. Thanks to the combined efforts of all our employees, we managed to generate record earnings (EBIT) of more than € 30 million and an EBIT margin of 4.2% with sales of just under € 700 million. This economic success in the 70th anniversary year of the HÖRMANN Group and on my departure as CEO fills me with pride and great gratitude."
In the 2025 financial year, the HÖRMANN Group generated sales revenue of €697.4 million (previous year: €678.9 million). Earnings before interest and taxes (EBIT) increased to € 30.4 million (previous year: € 24.3 million), while earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to € 50.0 million (previous year: € 40.3 million). The positive earnings trend is largely due to a change in the product and service mix, product price adjustments, productivity gains and portfolio optimizations. The 2025 financial year closed with a consolidated net profit of € 13.4 million (previous year: € 9.2 million). Operating cash flow improved to € 39.9 million (previous year: € 25.3 million).
Johann Schmid-Davis, CFO of HÖRMANN Industries GmbH, added: "As in previous years, the broad diversification of the HÖRMANN Group across four business divisions is proving to be a successful model. Despite the economic challenges, especially in the Intralogistics division, HÖRMANN Industries remains on course for success overall."
The Group's equity base amounted to € 146.7 million as of December 31, 2025 (December 31, 2024: € 138.8 million). Despite an increase in total assets, the equity ratio of 36.5% was therefore slightly above the previous year's level (December 31, 2024: 36.2%). Net cash and cash equivalents increased to € 82.3 million at the end of the year (31.12.2024: € 68.3 million).
Development of the divisions
In the Automotive division, despite continued weak market demand and a corresponding decline in sales to € 326.1 million (previous year: € 353.3 million), the company was able to increase its equity ratio to € 326.1 million (previous year: € 326.1 million). (previous year: € 353.3 million) due to the cost-cutting measures implemented and an improved operating performance, the Automotive division reported a profit for the first time since 2020. EBIT improved to € 5.0 million (previous year: € -0.5 million). At the same time, HÖRMANN has begun to further develop the Gustavsburg plant into the technologically leading production site for frame side members in Europe thanks to high investments. Having already invested € 16 million in the past two years, a further € 30 million is to be invested in the expansion of frame side member production and a new coating facility in the coming years. For the 2026 financial year, the Automotive division expects sales to increase to around € 335 million to € 350 million with EBIT of around € 7 million, in line with OEM customer forecasts.
The Communication division continued its positive development. Driven by investments in critical infrastructures and increasing internationalization, sales of € 263.3 million (previous year: € 214.8 million) were generated. With EBIT of € 35.3 million (previous year: € 27.5 million), this division once again made the largest contribution to earnings. Based on the high order backlog, HÖRMANN is forecasting continued stable business development for the Communication division for the 2026 financial year with revenue of between € 250 million and € 270 million and an earnings contribution (EBIT) of between € 28 million and € 30 million, although increased development costs and greater internationalization are likely to have a negative impact on earnings development.
The Intralogistics division continued to be characterized by restrained investment activity in the industry. In addition, extraordinary expenses from the portfolio adjustment had a negative impact on earnings. In the past financial year, the loss-making companies HÖRMANN Intralogistics Services and HÖRMANN Energy Solutions were sold and impairment losses were recognized on a demonstration system. Accordingly, sales amounted to € 73.8 million (previous year: € 80.7 million) and EBIT was € -5.9 million (previous year: € 1.2 million). Adjusted for the extraordinary expenses, operating EBIT amounted to € -1.3 million. HÖRMANN continues to see great potential in the division, including through the new product "SECTRO", an innovative system for security checks at airports. Thanks to the portfolio streamlining, HÖRMANN will now focus on developing the division's future-oriented business areas and plans to further expand the intralogistics business in the medium term through targeted investments and internationalization. For the current 2026 financial year, revenue is expected to reach the level of the 2025 financial year and break even.
The Engineering division generated revenue of € 33.0 million (previous year: € 30.4 million) and EBIT of € 4.9 million (previous year: € 2.8 million). The division was thus once again able to make a positive contribution to earnings, although this fell short of expectations due to the insolvency of a major customer. For the current 2026 financial year, the division expects sales of around € 40 million and earnings before interest and taxes of between € 3 million and € 4 million based on current project assessments.
Forecast for 2026
At Group level, HÖRMANN Industries GmbH expects incoming orders of between € 750 million and € 800 million (2025: € 683 million) and total revenue of between € 700 million and € 760 million (2025: € 697 million) in the 2026 financial year based on an assessment of the current order situation and rolling planning for the individual divisions. Positive earnings before interest and taxes (EBIT) at the level of the 2025 financial year (€ 30.4 million) are forecast for the operating business.
The full annual financial statements, including a detailed interview with Dr. Michael Radke and Johann Schmid-Davis, can be downloaded at http://www.hoermann-gruppe.de/investor-relations/finanzpublikationen/.
In addition, the HÖRMANN Group also published its fifth sustainability report today. The voluntary preparation of this comprehensive report in accordance with the international guidelines of the Global Reporting Initiative (GRI standard) underlines the long-term orientation of HÖRMANN Industries. The sustainability report can be downloaded at the following link: https://www.hoermann-gruppe.com/de/unternehmen/nachhaltigkeit.
