INDUS Holding publishes its preliminary results for the fiscal year 2023

On February 21, 2024, INDUS Holding AG, a publicly listed company, announced its unaudited preliminary results for the fiscal year 2023. Despite a challenging macroeconomic environment, the companies in INDUS' portfolio delivered strong operational performance, maintaining the group's revenue at 1.80 billion euros.

The group's EBIT reached 149.6 million euros, surpassing expectations with an EBIT margin of 8.3%. Despite a tough market, INDUS achieved a significantly higher free cash flow, exceeding 190 million euros. This performance is credited to the substantial reduction in working capital requirements by portfolio companies.

In 2023, the "PARKOUR perform" strategy was implemented, reorganizing INDUS into three industrial technology segments and divesting two portfolio companies. Dr. Johannes Schmidt, Chairman of the Board of Directors of INDUS, highlights the portfolio's resilience and its ability to generate high free cash flow.

The Engineering and Materials segments experienced growth in revenue and profits, while the Infrastructure segment faced operational challenges due to a downturn in the construction sector. Net debt decreased significantly, reaching 506.2 million euros at year-end, with a debt repayment period well within the target range.

INDUS expects the stable trend to continue in 2024, despite a year marked by recession and macroeconomic challenges. The company forecasts revenue between 1.85 and 1.95 billion euros and EBIT between 145 and 165 million euros for the 2024 financial year.