Eurogroup Laminations (EGLA) H1 2024 earnings summary

Executive summary

• First half 2024 results aligned with expectations, driven by triple-digit EV & Automotive growth in China and recovery in Industrial segment.

• Entered Indian market via acquisition of Kumar Precision Stampings; signed preliminary partnership with Hixih Group to accelerate EV market in China.

• 2024 and medium-term organic growth targets confirmed.

Financial highlights

• Consolidated revenues at €422.5M, down 6.9% year-over-year from €453.8M in 1H 2023.

• Adjusted EBITDA at €51.1M, down 11.3% year-over-year; margin at 12.1%.

• EBIT at €30.1M, down 28.5% year-over-year; margin at 7.1%.

• Net profit at €17.9M, down 4.4% year-over-year.

• Net financial debt increased to €210.5M from €110.8M at year-end 2023.

Outlook and guidance

• Organic growth targets for FY 2024 and medium term reaffirmed, supported by strong EV & Automotive order book and pipeline.