Business
Zumtobel : FY 2024/25 press release
Zumtobel : FY 2024/25 press
About this update from Zumtobel Group Ag
Press release Dornbirn, 24 July 2025 Dornbirn, Austria - The 2024/25 financial year was a difficult year in the context of global crises and a weak economy: Group revenues fell by 2.6% to EUR 1,097.2 million, and by 3.0% after an adjustment for foreign exchange effects. In the Components Segment, business stabilised year-on-year at EUR 299.3 million (2023/24: EUR 299.4 million). The Lighting Segment, in contrast, recorded a decline of 2.8% to EUR 864.0 million. Adjusted operating EBIT totalled EUR 46.9 million (2023/24: EUR 57.3 million), and the adjusted EBIT margin equalled 4.3% which is exactly within the projected range of 3% to 6%. Net profit after taxes and duties amounted to EUR 15.5 million (2023/24: EUR 24.7 million). 2024/25 FINANCIAL YEAR SLIGHT DECLINE IN REVENUES / ADJUSTED EBIT MARGIN IN LINE WITH FORECAST Press release Dornbirn, 24 July 2025 Revenues slightly lower year-on-year with a decline of 2.6% Adjusted Group EBIT totals EUR 46.9 million Adjusted EBIT margin in the middle of the projected range at 4.3% Net profit equals EUR 15.5 million Dividend recommendation: 15 euro cents per share Dornbirn, Austria - The 2024/25 financial year was a difficult year in the context of global crises and a weak economy: Group revenues fell by 2.6% to EUR 1,097.2 million, and by 3.0% after an adjustment for foreign exchange effects. In the Components Segment, business stabilised year-on-year at EUR 299.3 million (2023/24: EUR 299.4 million). The Lighting Segment, in contrast, recorded a decline of 2.8% to EUR 864.0 million. Adjusted operating EBIT totalled EUR 46.9 million (2023/24: EUR 57.3 million), and the adjusted EBIT margin equalled 4.3% which is exactly within the projected range of 3% to 6%. Net profit after taxes and duties amounted to EUR 15.5 million (2023/24: EUR 24.7 million). "The demand for new construction in Europe was, and still is, very weak," commented Alfred Felder, CEO of the Zumtobel Group. "Business development has also been slowed by extended decision processes due to the declining readiness to invest and an increase in project postponements by customers. These factors have made the market environment for our company very challenging." Differing revenue trends in the regions and segments The development of Group revenues reflects regional differences. In the D/A/CH region, all three companies reported higher revenues. The Zumtobel Group recorded a slight improvement in the Northern and Western Europe region, especially due to revenue growth in the UK and Ireland. The decline in Southern and Eastern Europe was based mainly on weaker business in France. Lower revenues were reported by the Asia & Pacific region, above all in Australia. In the America & MEA region, disappointing sales in North America were primarily responsible for the negative development. In the Lighting Segment, revenues fell by 2.8% to EUR 864.0 million in the 2024/25 financial year. Positive developments in the UK, Ireland and Switzerland were unable to offset the negative trend in two regions - Southern and Eastern Europe and Asia & Pacific. Revenues in the Components Segment reflected the previous year at EUR 299.3 million (2023/24: EUR 299.4 million). The year-on-year increase in revenues in the UK and D/A/CH region was offset by declines in other countries and negative price developments. Adjusted gross profit margin rises to 36.5% The adjusted cost of goods sold reflects a reduction in materials costs as well as positive inventory revaluations. Development costs rose by EUR 1.8 million to EUR 69.8 million (2023/24: EUR 68.0 million). The adjusted gross profit margin increased to 36.5% (2023/24: 35.8%) despite the decline in revenues based on a reduction in the materials ratio. Adjusted selling and administrative expenses (incl. research) rose by EUR 7.3 million to EUR -353.3 million due to an increase in personnel costs. Special effects of EUR -14.0 million were recorded in 2024/25 and were related primarily to the termination of production at the plant in Les Andelys (France). Adjusted Group EBIT fell from EUR 57.3 million to EUR 46.9 million, above all due to the decline in revenues and higher fixed costs in the Lighting Segment. The adjusted EBIT margin equalled 4.3% (2023/24: 5.1%). In the 2024/25 financial year, special effects of EUR -14.0 million were recorded. Taking these special effects into account, Group EBIT decreased to EUR 33.0 million (2023/24: EUR 49.5 million). The EBIT margin stood at 3.0% (2023/24: 4.4%). Profit before tax totalled EUR 16.1 million (2023/24: EUR 34.9 million), and net profit amounted to EUR 15.5 million (2023/24: EUR 24.7 million). Earnings per share for the shareholders of Zumtobel Group AG (basic EPS based on 42.6 million shares) equalled EUR 0.36 (2023/24: EUR 0.57). Dividend recommendation: 15 euro cents per share The Zumtobel Group generated net profit of EUR 15.5 million in the 2024/25 financial year. The Management Board plans to make a recommendation to the Supervisory Board and, subsequently, to the general meeting of Zumtobel Group AG, which is scheduled for 26 September 2025, to distribute a dividend of 15 euro cents per share for the 2024/25 financial year (2023/24: 25 euro cents per share). That would represent 42% of net profit and, based on the closing price of the share in 2024/25, a dividend yield of 3.2%. Targeted development of the corporate strategy: FOCUSED[+] In response to the changing economic and geopolitical conditions, the Zumtobel Group upgraded its previous corporate strategy during the past financial year under the key word "FOCUSED[+]". Sustainability and digitalisation remain the central pillars of this strategy and, in this connection, the company is also strengthening its positioning in the area of smarter building infrastructure. "With this strategy, we are building a solid foundation and making our company fit for the future - especially as regards the progressive digitalisation and increasing sustainability demands from legal regulations and customers in Europe", explained Alfred Felder, CEO of the Zumtobel Group. A central element of the Zumtobel Group's corporate strategy is the bundling of all activities around intelligent lighting solutions. Under the leitmotiv "Smart Building Solutions", the Zumtobel Group is targeting its investments in related research, technology and integrated lighting systems. Sensor-based lighting controls, the data-based use of space and human centric lighting make a substantial contribution to smart building technology as a means of ensuring optimal energy efficiency. Strategic partnerships with technology leaders like Siemens and ABB underscore the company's claim to provide future-oriented systems for sustainable building management. The new Keyture software solution represents one concrete result of this strategy. Open, integrated systems together with advanced controls and smart space applications can directly improve energy efficiency, security and room quality. With Keyture, the Zumtobel Group is creating a comprehensive service experience and strengthening its cooperation with customers and partners. The Zumtobel Group is also continuing to focus on sustainability and digitalisation in its own organisation and internal processes. The Group's climate goals were confirmed by the renowned Science Based Targets initiative (SBTi) in 2024/25 and are now firmly anchored throughout the organisation. The digital transformation initiatives launched in the previous year were also consequently followed, among others with the development of a new product information management system and the redesign of the e-commerce channel for the Thorn und Zumtobel lighting brands. Management is also continuously analysing the cost structures in the production network to increase the company's resilience and protect its competitive position over the long term. With this strategy, the company is convinced it is optimally positioned to manoeuvre through difficult times and benefit as best as possible from the expected subsidy programmes at the European level - and especially in Germany. Product highlight: Further development of the TECTON bestseller One highlight for the Zumtobel Group in recent months was the product launch of the new TECTON II continuous row system from the Zumtobel brand - the innovative evolution of the long-time bestseller TECTON. This system can accommodate up to 15 poles for maximum flexibility in the design of individual lighting applications - from general and emergency lighting to sensors and controls. All functions can be combined in a single system to substantially reduce energy consumption. Another pioneering feature of TECTON II is the intelligent plug-and-play design, which permits tool-free installation that is over 70% faster on average than comparable products. Outlook The management of the Zumtobel Group sees the current geopolitical and economic situation as stressed and difficult to forecast, although positive impulses are expected over the medium-term from the anticipated subsidy programmes in Europa. In spite of the low share of Group revenues generated on the US market, the hardly predictable effects of US tariff policies could have a substantial negative impact on growth and, above all, on construction activity in Europe. The Zumtobel Group continues to register weak demand, especially in new construction. This environment makes it extremely difficult to prepare concrete forecasts for business development in the 2025/26 financial year. Against this backdrop and with reference to the above-mentioned uncertainties, the Management Board of the Zumtobel Group expects declining revenues in a single-digit percentage range below the previous year and an adjusted EBIT margin of 1% to 4%. Thorn: Notre-Dame de Paris, France The Notre-Dame de Paris Cathedral - a UNESCO World Heritage Site since 1991 - was reopened only recently, following the devastating fire five years earlier. For the professional lighting solution for the vaults of the nave, Thorn provided the artist and lighting designer Patrick Rimoux, who was commissioned with the overall design of the lighting solution, with state-of-the-art lighting technology and expertise gained from decades of experience. Together, they developed a special modification of the Contrast LED floodlights, enabling a subtle white colour mixing and precise scene controls to enhance the new white tones of the stones. Photo: JULIO PIATTI / CATHÉDRALE NOTRE-DAME DE PARIS Tridonic: M3 Metro Line, Budapest, Hungary (top left) Panic very quickly breaks out if the lights suddenly go out in a metro station. The lighting system has to operate without fail 24 hours a day, 7 days a week. The Hungarian transit company BVK therefore placed great importance on reliable, high-quality lighting when renovating the central and southern sections of the M3 metro line. The old fluorescent tubes along the platforms, passages, and staircases were replaced by state-of-the-art LED lights equipped with Tridonic drivers in full compliance with the complex requirements of train operations. The modernisation project has not only reduced maintenance and the risk of failure but also improved the aesthetic appearance of the stations. Photo: https://WWW.MAGYAREPITOK.HU Zumtobel: TECTON II - Second Generation of the Continuous-Row Lighting System (top right) TECTON II is Zumtobel's response to current and future market requirements and represents a decisive step towards the future. It uses high-quality LED technology, an excellent colour rendering index and uniform light distribution to create optimum lighting conditions. Thanks to the plug-and-play design, it can be installed quickly without any tools, while its impressive energy efficiency and intelligent control options minimise power consumption. To help them develop the next generation of continuous-row lighting systems, Zumtobel has brought the Italian design studio and engineering company Pininfarina on board as a partner. Zumtobel Group: Artistic Annual Report and Exhibition "Windows of Light" by Lina Ghotmeh The Lebanese-French architect Lina Ghotmeh accepted the invitation to continue the traditional series of the Zumtobel Group Annual Reports, which have been designed since 1991, with the 33rd edition. She runs her eponymous studio in Paris and significantly impacts the international architectural discourse with her work and mindset. For the design of the Annual Report, she was inspired to research light's impact on our environment: Light as a physical phenomenon and a social connector whose meaning extends beyond what is visible - from its origins to the present. The eponymous exhibition, which was on display at the Dornbirn Light Forum, transformed the book into a spatial experience. Photo: NINA BRÖLL Zumtobel Group AG SHORT COMPANY PORTRAIT ABOUT The Zumtobel Group is an international lighting group and a leading supplier of innovative lighting solutions, lighting components and associated services. With its brands Thorn, Tridonic and Zumtobel, the Group offers its customers around the world a comprehensive portfolio of products and services. The Group's know-how about the effects of light on people, acquired over decades, forms the basis for the development of innovations and for accessing new fields of business. In the lighting business, the Group with its Thorn and Zumtobel brands, is one of the European market leaders. Through its lighting technology brand, Tridonic, the Zumtobel Group plays a leading role worldwide in the manufacture of hardware and software for lighting systems (LED light sources and LED drivers, sensors and lighting management). The Zumtobel Group's service offering is one of the most comprehensive in the entire lighting industry, including consultation on smart lighting controls and emergency lighting systems, light contracting, design services and project management of turnkey lighting solutions, as well as new, data-based services focused on delivering connectivity for buildings and municipalities via the lighting infrastructure. The Group is listed on the Vienna Stock Exchange (ATX Prime) and currently holds a workforce of around 5,300 employees. In the 2024/25 financial year, the Group posted revenues of EUR 1,097.2 million. The Zumtobel Group is based in Dornbirn in the Vorarlberg region of Austria. For further information, please visit z.lighting/group. INFORMATION Download press release and high-resolution images The annual financial report can be downloaded at: https://z.lighting/en/group/investor-relations/ Media Contact Zumtobel Group Press Team +43 5572 509 575 [email protected] Contact Investor Relations Eric Schmiedchen Head of Investor Relations +43 5572 509 1125 [email protected]