DATA MODUL Reports Modest Sales Growth Amid Economic Challenges in FY 2023

DATA MODUL AG, a leader in the production and distribution of electronic systems, has navigated a challenging fiscal year 2023, reporting a slight sales growth despite facing a fierce cost pressure and a decline in incoming orders. According to the company's annual results, they achieved a 2.6% increase in sales, reaching EUR 283.2 million, while incoming orders fell by 16.0% to EUR 253.6 million compared to the previous year.

The company witnessed a decline in its EBIT, dropping by 17.9% to EUR 22.3 million from EUR 27.1 million in the prior year. The economic downturn and increased cost levels notably impacted the EBIT margin, which decreased to 7.9% from 9.8%. The order backlog also saw a reduction of 17.7%, standing at EUR 162.2 million by the end of the reporting period.

In light of the persistently difficult market conditions, DATA MODUL has announced its intention to propose a dividend distribution of EUR 2.00 per share for the fiscal year 2023. However, the company anticipates a slight decline in performance for 2024, attributing this forecast to the restrained investment activity and stringent cost management efforts expected from companies in response to the economic and political uncertainties, including the high level of interest rates.