Ringmetall SE significantly raises revenue and earnings forecast

Ringmetall SE significantly raises revenue and earnings forecast

Munich, 14 September 2022 - Ringmetall SE (ISIN: DE000A3E5E55) is significantly raising its forecast for the development of revenue and earnings in the full year 2022. The company's Management Board came to this decision today on the basis of the preliminary half-year figures, the preliminary business figures for the months of July and August, and the foreseeable business development in the month of September.

The adjusted forecast assumes consolidated revenues of between EUR 205 and 225 million (previously: EUR 180 to 200 million) and earnings before interest, taxes, depreciation and amortization (EBITDA) of between EUR 26 and 32 million (previously: EUR 22 to 27 million). In contrast to the original estimates regarding the development of the business environment, which were subject to the forecast, the development of the clamping rings product area is only slightly weaker than the multi-year average. At the same time, however, the Inliner product area and the Industrial Handling business unit are developing much more dynamically than originally expected. Furthermore, a special effect in connection with the acquisition of Rhein-Plast as well as significantly changed exchange rates and steel prices lead to a revaluation.

The forecast is based on unchanged raw material prices and exchange rates in the fourth quarter compared with the end of August 2022. It also does not include effects from potential acquisitions in the fourth quarter of 2022, including transaction costs.

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