KLINGELNBERG AG Precision gearing champion with Swiss and German heritage
Presentation for Analysts and Investors
Financial Report 2024/25 Zürich, June 2025
Agenda
1 | Introduction and key facts |
2 | Financial results |
3 | Outlook |
4 | Q&A |
1 Key facts 2024/25
1 | KL proves stability in highly dynamic and volatile global business environment |
2 | Net sales increased by EUR 5,6 million (+1,8%) to EUR 309,1 million |
3 | Order intake of EUR 249,9 million (-19,7%) |
4 | EBIT amounted to EUR 16,2 million |
5 | EBIT Margin at 5,2% - operational fitness increased |
6 | Cautiously optimistic for the 2025/26 financial year - despite recent increase in global economic uncertainty |
7 | BoD proposes dividend of CHF 0,50 per share to AGM |
2 New record for net sales
KLINGELNBERG Group - Sales and orders (in €m)
350,0
300,0
250,0
200,0
150,0
100,0
50,0
0,0
350,0
300,0
250,0
200,0
150,0
100,0
50,0
0,0
Net sales
309,0
309,1
303,5
158,7
158,6
2020/21 2021/22 2022/23 2023/24 2024/25
268,0
267,5
259,6
208,2
157,7
Order backlog
2020/21 2021/22 2022/23 2023/24 2024/25
350,0
300,0
250,0
200,0
150,0
100,0
50,0
0,0
Order intake
311,4
300,4
268,9
249,9
215,5
KLINGELNBERG Group achieved net sales of EUR 309,1 million - the highest in the Company's history. This figure was EUR 5,6 million above the
prior-year result and EUR 0,1 million higher than the previous record net sales posted in the
2022/23 financial year.
Order backlog declined by EUR 59,3 million but remained at a high level of EUR 208,2 million.
2020/21 2021/22 2022/23 2023/24 2024/25
2 Stable sales performance in a challenging global market
KLINGELNBERG Group - Sales (in €m)
CAGR
+0,02%
Net sales split by…
(2024/25)
233,5
225,8
230,5
77,7
75,6
78,5
309,0 303,5 309,1
machines and services
24%
309,1
76%
52%
18%
309,1
30%
sales region
2022/23 2023/24 2024/25
2 Bevel Gear segment with decline in net sales and order intake
KLINGELNBERG Group - Bevel Gears development (in €m)
Net sales
111,3
CAGR
-13,6%
Order intake
CAGR
-8,5%
89,1
83,2
69,9
83,4 87,5
2022/23 2023/24 2024/25 2022/23 2023/24 2024/25
The Bevel Gear segment generated net sales of EUR 83,2 million at the end of the 2024/25 financial
year, representing a decline of EUR 5,9 million (-6,7%) compared to the previous financial year.
Order intake totaled EUR 69,9 million, which was
EUR 17,6 million below the level of the same prior-year period.
Segment "waiting" on positive signal from US and GER
Order backlog
CAGR
-13,8%
58,5 56,8
43,5
2022/23 2023/24 2024/25
2 Cylindrical Gear continued with high net sales and strong order backlog
KLINGELNBERG Group - Cylindrical Gears development (in €m)
Net sales
Order intake
CAGR
-12,8%
CAGR 4,3%
93,1 95,7 101,3
2022/23 2023/24 2024/25
104,6 111,0
79,6
2022/23 2023/24 2024/25
The Cylindrical Gear segment achieved an increase in net sales of EUR 5,5 million, reaching a total of
EUR 101,3 million.
Order backlog declined by EUR 21,6 million but remained at a high level of EUR 112,7 million.
Order backlog
119,1
112,7
CAGR
-2,7%
134,3
2022/23 2023/24 2024/25
2 Measuring Centers with growth in net sales but decline in order intake
KLINGELNBERG Group - Precision Measuring Centers development (in €m)
Net sales
CAGR 9,0%
84,7
98,6 100,7
Order intake
89,0
CAGR
-7,6%
96,8
76,1
2022/23 2023/24 2024/25 2022/23 2023/24 2024/25
The Measuring Centers segment achieved net sales of EUR 100,7 million and exceeded the high sales level of the prior financial year by EUR 2,1 million.
However, order intake in this segment reduced compared to previous financial years. Following record order volumes in recent financial years, order intake in the 2024/25 financial year amounted to
EUR 76,1 million.
Order backlog
CAGR
-23,1%
65,0
63,1
38,4
2022/23 2023/24 2024/25
2 Drive Technology with increase in net sales and order intake
KLINGELNBERG Group - Drive Technology development (in €m)
CAGR 1,2%
Net sales Order intake
15,1
CAGR 14,5%
19,8
17,2
19,2
19,7
13,4
2022/23 2023/24 2024/25 2022/23 2023/24 2024/25
Order backlog
With net sales of EUR 19,8 million, the Drive Technology segment recorded an increase of
EUR 2,6 million compared to the prior financial year.
Order intake rose by EUR 6,3 million year over year, reaching a total of EUR 19,7 million.
Additional momentum in order intake resulted from the announcement that Drive Technology will focus exclusively on contract gear manufacturing going forward.
CAGR
-12,8%
16,6
12,7
12,6
2022/23 2023/24 2024/25
2 Continued achievement of a double-digit million operating result
KLINGELNBERG Group - Income statement (in €m)
FY 2022/23 ACTUAL
FY 2023/24 ACTUAL
FY 2024/25 ACTUAL
Deviations 2024/25 vs. 2023/24
Net sales from goods and services | 309,0 | 100% | 303,5 | 100% | 309,1 | 100% | 5,6 | 2% |
Other operating income | 9,5 | 3% | 13,0 | 4% | 3,3 | 1% | -9,7 | -75% |
Change in inventory of finished and unfinished goods | -18,8 | -6% | 2,3 | 1% | -10,7 | -3% | -13,0 | |
Material expense | -125,8 | -41% | -130,7 | -43% | -117,3 | -38% | 13,5 | 10% |
Personnel expense | -100,1 | -32% | -114,4 | -38% | -119,8 | -39% | -5,5 | -5% |
Depreciation on tangible fixed assets | -4,0 | -1% | -4,9 | -2% | -5,3 | -2% | -0,4 | -8% |
Amortisation on intangible assets | -0,4 | 0% | -0,3 | 0% | -0,4 | 0% | -0,1 | -32% |
Other operating expense | -46,3 | -15% | -44,5 | -15% | -43,5 | -14% | 1,0 | 2% |
Share of result from joint ventures | 0,6 0% | 1,0 0% | 0,8 0% | -0,2 -19% | ||||
Operating result | 23,8 | 8% | 25,1 | 8% | 16,2 | 5% | -8,9 | -35% |
Financial result | -2,3 -1% | -2,5 | -1% | -1,2 | 0% | 1,3 | 53% | |
Profit before income taxes | 21,5 7% | 22,6 | 7% | 15,0 | 5% | -7,5 | -33% | |
Income taxes | -0,7 0% | -5,4 -2% | -5,0 -2% | 0,3 6% | ||||
Net profit | 20,8 | 7% | 17,2 | 6% | 10,0 | 3% | -7,2 | -42% |
For the third consecutive financial year, the KLINGELNBERG Group achieved a double-digit million operating result (EBIT) in the 2024/25 financial year. In the reporting year, the operating result amounted to EUR 16,2 million, a decrease of EUR 8,9 million compared to the previous financial year, which was primarily attributable to the absence of flood-related payments (est. 9 million)
The operating result as a percentage of net sales from goods and services was +5,2%, a decline of 3,1 percentage points year over year mainly due to flood-related payments last year.
2 Other operating expense continued to fall
KLINGELNBERG Group - Income and cost development (in €m)
Other operating income amounted to EUR 3,3 million at the end of the
2024/25 financial year, representing a decrease of EUR 9,7 million compared to the previous financial year. This decline was primarily due to the absence of flood-related payments
(EUR 9,0 million).
At the end of the 2024/25 financial year, other operating expense amounted to
EUR 43,5 million, which was EUR 1,0 million below the previous financial year's level.
The other operating expense ratio stood at 14,6% at the end of the 2024/25 financial year, remaining in line with the prior financial year.
Other operating income
CAGR
-41,4%
9,5
13,0
3,3
2022/23 2023/24 2024/25
Other operating expense
CAGR
-3,0%
46,3
44,5
43,5
15,9%
14,6%
in relation to total operating performance in %
14,6%
2022/23 2023/24 2024/25
2 Materials ratio improved
KLINGELNBERG Group - Income and cost development (in €m)
CAGR
-3,4%
In line with the lower total operating performance, material expense decreased by EUR 13,5 million year over year, amounting to EUR 117,3 million. Due in part to the reduction in inventory, the materials ratio declined by 3,4 percentage points compared to the previous financial year, reaching 39,3% at the end of the 2024/25 financial year.
Personnel expense amounted to EUR 119,8 million at the end of the 2024/25 financial year, up
EUR 5,5 million on the previous financial year. Wages and salaries, including social security contributions, rose by EUR 6,4 million. This increase was primarily due to the increase in headcount
(+35 FTE), resulting in part from the acquisition of VISPIRON ROTEC GmbH, as well as a 3,3% collectively agreed wage increase at KLINGELNBERG GmbH.
Material expense
43,4%
42,8%
in relation to total operating performance
in %
39,3%
125,8 130,7 117,3
2022/23 2023/24 2024/25
Personnel expense
CAGR 9,4%
100,1
114,4 119,8
in relation to total operating performance in %
34,5%
37,4%
40,2%
2022/23 2023/24 2024/25
2 Net change in cash amounted to EUR -0,5 million
KLINGELNBERG Group - Consolidated cash flow statement (in €m)
Cash flow from operating activities decreased by EUR 4,5 million compared to the last financial year.
Cash flow from investing activities totaled EUR -12,5 million. This included outflows for investment in tangible fixed assets of
EUR 8,5 million in the 2024/25 financial year, including a plot of land in Pune, India, and machinery investments at the sites in Hückeswagen, Germany, and Pune, India. The acquisition of VISPIRON ROTEC GmbH was
also included in this item.
Capital expenditures on tangible fixed assets
CAGR
-31,2%
18,0
8,1
8,5
Cash Flow
2022/23 2023/24 2024/25
2023/24 2024/25
7,8
23,5 19,0
-0,1 -0,5
-12,5
-6,8
-7,3
-7,8
-0,6
Note: Unless otherwise indicated, all figures are rounded up or down to the nearest hundred thousand Euros.
2 Further strengthening of the financial position
KLINGELNBERG Group - Balance sheet ratios (in €m)
Trade Working Capital
161,2
175,4
net sales
57,8%
50,8%
-17,4
-18,9
104,4
52,2%
114,4
117,6
70,2
79,9
71,1
Equity increased by EUR 2,6 million (+1,9%) compared to 31 March 2024, reaching
EUR 143,4 million as of the balance sheet date. Net profit contributed EUR 10,0 million to equity, while the dividend payment reduced equity by EUR 4,7 million.
The equity ratio rose by 3,7 percentage points compared to 31 March 2024, reaching 51,2% as at
31 March 2025.
157,1
in % of
-27,6
2022/23 2023/24 2024/25
Equity capital ratio
44,5%
47,5%
51,2%
126,6
CAGR 6,4%
140,8
143,4
Financing structure Equity capital
-18,5
-13,4
-11,5
16,5
16,0
8,7
-32,0
-30,4
-30,1
2022/23 2023/24 2024/25
2022/23 2023/24 2024/25
Note: Unless otherwise indicated, all figures are rounded up or down to the nearest hundred thousand Euros.
3 Outlook
For the 2025/26 financial year, KLINGELNBERG remains cautiously optimistic despite the recent increase in global economic uncertainty, while maintaining our traditional conservative approach.
The geopolitical environment remains challenging and hard to predict for KLINGELNBERG
We also see multiple chances
We are ready: Increased operational fitness and focussed R&D
Promising Southeast Asia and a recovering China + a strong India
Chance of resolution of econmical conflicts (USA)
Increasing demand in defence and industry
In light of the current economic uncertainties, including geopolitical tensions, trade tariffs, and challenges in the automotive industry in Germany and the EU, it is difficult to provide a precise profit forecast.
Nevertheless, we are confident that we will achieve a positive result.
4 Thank you! - Q+A
KLINGELNBERG Group - Creating tormorrow´s drive technology
Appendix
2 Strong increase in Equity mainly due to clearly positive annual result
KLINGELNBERG Group - Balance sheet (in €m)
FY 2023/24 ACTUAL
FY 2024/25 ACTUAL
Deviations
16,0 | 6% |
70,2 | 25% |
104,4 | 37% |
10,3 | 4% |
79,2 | 28% |
280,1 | 100% |
Cash and cash equivalents 16,5 6%
Receivables from goods and services 79,9 27%
Inventories 114,4 39%
Other current assets 9,6 3%
Non-current assets 75,7 26%
Total assets 296,1 100%
30,1 | 11% |
11,5 | 4% |
17,4 | 6% |
77,7 | 28% |
143,4 | 51% |
280,1 | 100% |
Short-term financial liabilities 30,4 10%
Long-term financial liabilities 13,4 5%
Payables from goods and services 18,9 6%
Other liabilities 92,7 31%
Total equity 140,8 48%
Total liabilities and equity 296,1 100%
Note: Unless otherwise indicated, all figures are rounded up or down to the nearest hundred thousand Euros.
-0,5 -3%
-9,7 -12%
-10,0 -9%
0,8 8%
3,5 5%
-16,0 -5%
-0,3 -1%
-1,9 -14%
-1,5 -8%
-15,0 -16%
2,6 2%
-16,0 -5%
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