Vorarlberg lighting manufacturer Zumtobel suffered a loss in turnover and profit in the past financial year 2023/24. Sales fell by 6.8 percent to 1.1 billion euros; adjusted for currency effects, the decline was 5.8 percent. The end result was an operating profit of 24.7 million euros, after 60 million euros in the previous year, the company announced on Wednesday.
In its announcement, the company referred to the difficult economic conditions, which it had felt particularly in the components sector. The Components segment recorded a decline in sales of 18.5 percent to EUR 299.4 million, which can be attributed to the continued weak demand due to persistently high customer inventories and strong price competition. In contrast, the Lighting segment recorded only a slight decline in sales of 1.5 percent to EUR 889.3 million.
Adjusted operating profit (adjusted EBIT) amounted to EUR 57.3 million in the 2023/24 financial year, after EUR 84.3 million the previous year. The adjusted EBIT margin was 5.1 percent, which was in the middle of the expected range of 4 to 6 percent. Given the globally uncertain environment, management is “only cautiously optimistic” for the 2024/25 financial year that has just begun. Sales should be “slightly above the previous year’s level” and the EBIT margin should be between three and six percent.
Source: Krone
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