Q1-Q3 2024/25
MANAGEMENT PRESENTATION
6 March 2025
ZUMTOBEL GROUP
Q1-Q3 2024/25 FINANCIAL OVERVIEW
IN EUR MN | Q1-Q3 2024/25 | Q1-Q3 2023/24 | CHANGE IN % |
Group revenues | 828.1 | 840.0 | -1.4 |
Lighting Segment revenues | 652.0 | 663.4 | -1.7 |
Components Segment revenues | 226.6 | 222.6 | 1.8 |
Adjusted gross profit 1 | 304.9 | 297.9 | 2.3 |
Adjusted EBIT | 41.0 | 45.9 | -10.7 |
Net profit for the period | 13.0 | 21.4 | -39.1 |
1 incl. development
Q1-Q3 2024/25 results | 3 |
Copyright notice: Anna Suslina
LANDHAUS ST.PÖLTEN, Austria
TÜV SÜD MUNICH, Germany
GIANT, Germany
BIBLIOTHECA ALEXANDRINA, Egypt
© Julio Piatti
NOTRE-DAME DE PARIS, France
LIGHTING SEGMENT
LOWER REVENUES AND HIGHER PERSONNEL EXPENSES HAD
A NEGATIVE IMPACT ON THE ADJUSTED EBIT
REVENUES IN EUR MN | ADJUSTED EBIT IN EUR MN | |||||||
fx-adj. | fx-adj. | fx-adj. | 11.7% | |||||
0.8% | -1.0% | -6.9% | 8.9% | 7.8% | ||||
1.1% | -0.4% | -6.2% | 7.7% | 5.5% | ||||
6.0% | ||||||||
26.9 | 1.0% | |||||||
224.1 226.6 | 230.3 229.5 | 208.9 195.9 | 226.0 | 20.1 | ||||
17.8 | ||||||||
17.3 | ||||||||
11.5 | 13.5 | |||||||
1.9 | ||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 |
2023/24 | 2024/25 | 2023/24 as a % of revenues | 2023/24 | ||||||
2024/25 as a % of revenues | 2024/25 | ||||||||
Q1-Q3 | 2024/25: EUR 652.0 mn (minus 1.7%) | Q1-Q3 2024/25: EUR 39.9 mn (margin of 6.1%) | |||||||
Q1-Q3 | 2023/24: EUR 663.4 mn | Q1-Q3 2023/24: EUR 55.6 mn (margin of 8.4%) | |||||||
Q1-Q3 2024/25 results | 5 |
COMPONENTS SEGMENT
ADJUSTED EBIT INCREASED DUE TO LOWER MATERIAL COSTS AND
AN INVENTORY REVALUATION EFFECT
REVENUES IN EUR MN
fx-adj.fx-adj.fx-adj.
5.4% | 2.8% | -2.5% |
4.3% | 2.5% | -1.8% |
77.0 80.3 | 75.1 | 77.0 | 70.5 | 69.2 | 76.8 |
Q1 | Q2 | Q3 | Q4 |
2023/24 2024/25
Q1-Q3 2024/25: EUR 226.6 mn (plus 1.8%)
Q1-Q3 2023/24: EUR 222.6 mn
Q1-Q3 2024/25 results
ADJUSTED EBIT IN EUR MN
8.4%
5.9%
3.0% | ||
2.9% | 4.3% | 3.7% |
-1.9% |
6.5 | |||||||
4.7 | |||||||
3.2 | 2.8 | ||||||
2.2 | 2.1 | ||||||
-1.4 | |||||||
Q1 | Q2 | Q3 | Q4 | ||||
2023/24 as a % of revenues | 2023/24 | ||||||
2024/25 as a % of revenues | 2024/25 | ||||||
Q1-Q3 2024/25: EUR 13.3 mn (margin of 5.9%)
Q1-Q3 2023/24: EUR 4.1 mn (margin of 1.8%)
6
ZUMTOBEL GROUP
LOWER MATERIAL RATIO UNABLE TO OFFSET WEAK DEMAND AND
OVERALL HIGHER PERSONNEL EXPENSES
REVENUES IN EUR MN
fx-adj. | fx-adj. | fx-adj. | |
1.3% | 0.8% | -6.4% | |
1.2% | -0.1% | -5.7% | |
285.6 289.1 | 288.9 288.6 | 265.5 | 287.0 |
250.5 |
Q1 | Q2 | Q3 | Q4 |
2023/24 2024/25
Q1-Q3 2024/25: EUR 828.1 mn (minus 1.4%)
Q1-Q3 2023/24: EUR 840.0 mn
Q1-Q3 2024/25 results
ADJUSTED EBIT IN EUR MN
8.8%
7.0%
7.3% | 2.2% | ||||||
5.1% | |||||||
4.0% | |||||||
25.5 | -0.1% | ||||||
20.2 | 21.0 | ||||||
14.5 | 11.4 | ||||||
5.9 | |||||||
-0.2 | |||||||
Q1 | Q2 | Q3 | Q4 | ||||
2023/24 as a % of revenues | 2023/24 | ||||||
2024/25 as a % of revenues | 2024/25 | ||||||
Q1-Q3 2024/25: EUR 41.0 mn (margin of 4.9%)
Q1-Q3 2023/24: EUR 45.9 mn (margin of 5.5%)
7
ZUMTOBEL GROUP
LOWER MATERIAL COSTS AND A POSITIVE REVALUATION EFFECT WERE MORE THAN
OFFSET BY WEAK DEMAND AND HIGHER OVERALL PERSONNEL EXPENSES
ADJUSTED EBIT BRIDGE IN EUR MN / AS % OF SALES
5.5% | -0.6pp | 4.9% |
14.5
45.9
41.0
-7.5 | -11.9 | |||||
Mainly due to negative volume | Mainly due to a positive | Mainly due to higher personnel | ||||
development in the Lighting | inventory revaluation effect | expenses | ||||
Segment | and lower material costs; | |||||
partially offset by higher | ||||||
personnel expenses | ||||||
Adjusted EBIT | Turnover, price and | COGS | SG&A and Research | Adjusted EBIT | ||
Q1-Q3 2023/24 | FX effects on sales | Q1-Q3 2024/25 | ||||
Q1-Q3 2024/25 results | 8 |
ADJ. GROSS PROFIT MARGIN INCREASED TO 36.8%; ADJ. EBIT
BELOW PREVIOUS YEAR DUE TO WEAK ENVIRONMENT
ZUMTOBEL GROUP - INCOME STATEMENT
IN EUR MN | Q1-Q3 2024/25 | Q1-Q3 2023/24 | CHANGE IN % |
Revenues | 828.1 | 840.0 | -1.4 |
Adjusted cost of goods sold | -523.2 | -542.1 | -3.5 |
Adjusted gross profit (incl. development) | 304.9 | 297.9 | 2.3 |
as a % of revenues | 36.8 | 35.5 | |
Adjusted SG&A expenses | -263.9 | -252.0 | 4.7 |
Adjusted EBIT | 41.0 | 45.9 | -10.7 |
as a % of revenues | 4.9 | 5.5 | |
Special effects | -13.1 | -9.1 | |
EBIT | 27.8 | 36.8 | -24.3 |
as a % of revenues | 3.4 | 4.4 | |
Financial results | -13.3 | -13.0 | -2.8 |
Profit before tax | 14.5 | 23.8 | -39.1 |
Income taxes | -1.4 | -2.4 | -39.1 |
Net profit for the period | 13.0 | 21.4 | -39.1 |
Earnings per share (in EUR) | 0.31 | 0.50 | -37.7 |
Q1-Q3 2024/25 results
Special effects of EUR -13.1 were mainly booked for the Lighting plant in Les Andelys (France), for the Assembly plant in Sydney (Australia) and for the Lighting plant in Lemgo (Germany)
9
LOWER CASH FLOW FROM OPERATING RESULTS AND CHANGES IN
WORKING CAPITAL IMPACTED OUR FREE CASH FLOW
ZUMTOBEL GROUP - CASH FLOW STATEMENT
IN EUR MN | Q1-Q3 2024/25 | Q1-Q3 2023/24 |
Cash flow from operating results | 69.2 | 78.5 |
Change in working capital | 1.2 | 8.7 |
Change in other operating items | -16.2 | -22.3 |
Taxes paid/received | -5.3 | -6.3 |
Cash flow from operating activities | 48.8 | 58.6 |
Cash flow from investing activities | -33.1 | -29.7 |
Free cash flow | 15.6 | 28.9 |
Cash flow from financing activities | -36.3 | -11.6 |
Q1-Q3 2024/25 results | 10 |
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