Carlo Gavazzi Holding AG (GAV) H2 23/24 earnings summary

Executive summary

• Sales and profit declined following an exceptional post-Covid growth period, but the balance sheet was strengthened despite challenging markets.

• ERP system was fully implemented worldwide, and ESG goals were confirmed in the latest sustainability report.

Financial highlights

• Revenue from sale of goods fell 17.8% year-over-year to CHF 172.2 million.

• EBIT dropped 35.6% to CHF 25.3 million, and net profit decreased 33.7% to CHF 18.7 million compared to the previous year.

• Bookings declined 41.7% year-over-year to CHF 134.0 million.

• EBITDA was CHF 31.9 million, down 29% year-over-year.

Outlook and guidance

• Customers continue to reduce inventories, and negative growth in 2024/25 cannot be excluded.

• Positive mid-term sales growth is anticipated, supported by financial stability, focused strategy, and innovative technology.