KLINGELNBERG AG
Binzmühlestrasse 171
8050 Zürich, Switzerland
Ad hoc announcement pursuant to Art. 53 LR (Listing Rules of SIX Exchange Regulation)
Due to the economic downturn particularly in Germany and in the European automotive and automotive supplier industries:
- KLINGELNBERG adjusting profit target for the 2024/25 financial year
- Profitability remains clearly positive - margin above 5 percent
Zurich, 13 February 2025 - The KLINGELNBERG Group (SIX: KLIN), a leading global manufacturer of high-tech gear technology for a wide range of industries, is adjusting its earnings targets for the 2024/25 financial year. Main reasons are the economic downturn particulary in Germany and the weakness in the European automotive and automotive supplier industry, as well as increased costs resulting from the unexpectedly high collective wage agreement in the German metal industry. The financial year ends on
31 March 2025.
Due to the weak economy in Germany and the weakness of the European automotive industry, with some companies experiencing a sharp decline in vehicle sales, and a simultaneous negative impact on a large number of suppliers, the KLINGELNBERG Group will not be able to realize parts of the planned sales volumes with this industry, particularly in the service sector and for individual machine types. This will reduce the planned sales and, consequently, the planned result. Added to this are cost increases resulting from the unexpectedly high collective wage agreement in the metal industry in Germany. The one-off payment agreed between the collective bargaining parties will have a particularly strong impact in February. Nevertheless, according to current projections, the EBIT margin will be above 5 percent and sales are expected to be at the previous year's level.
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Contact:
Philipp Kannengiesser / Christoph Küster
KLINGELNBERG AG
Binzmühlestrasse 171
8050 Zürich, Switzerland
e-mail:investorrelations@klingelnberg.com
Phone.: +41 44 278 7940
About KLINGELNBERG
Founded in 1863, KLINGELNBERG is one of the leading companies in the global gear industry. The Company develops and manufactures machines for the production of bevel and spur gears, measuring centers for rotationally symmetric objects of all kinds and high-precision gear components according to customer requirements. With headquarters in Zürich, Switzerland, and more than 1.000 employees, KLINGELNBERG operates development and production facilities in Zürich (Switzerland), Hückeswagen and Ettlingen (Germany) and is represented by sales and service subsidiaries in Germany, Switzerland, France, Italy, Spain, Japan, India, China, Brazil, the USA and Mexico. KLINGELNBERG 's shares are listed on the SIX Swiss Exchange (KLIN).
Disclaimer
This release contains forward-looking statements that may involve certain risks, uncertainties and changes that are not foreseeable and beyond the control of the KLINGELNBERG Group. Therefore, the KLINGELNBERG Group does not make any representations regarding the correctness of such forward-looking statements, their effect on the financial situation of the KLINGELNBERG Group or the market in which shares and other securities of the KLINGELNBERG Group are traded.
Furthermore, this release contains alternative performance indicators that are not defined or listed in the applicable, recognized accounted standard (Swiss GAAP FER).
These non-Swiss GAAP FER financial measures are only of limited use as analytical tools and should not be used as an indicator or alternative to the Group's results or to performance or liquidity measures according to Swiss GAAP FER, as set forth in its consolidated financial statements. The non-Swiss GAAP FER financial measures should therefore be considered as supplementary information to, and read only in conjunction with, the consolidated financial statements of the Group. Since not all companies compute these or other non-Swiss GAAP FER financial measures in the same way, the manner in which the KLINGELNBERG Group's management has chosen to compute the non-Swiss GAAP FER financial measures presented herein may not be comparable with similarly defined terms used by other companies. As a result, you are cautioned not to place undue reliance on any non-Swiss GAAP FER financial measures and ratios included herein.
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