(Tiper Stock Exchange) – EuroGroup Laminationsworld leader in the design, production and distribution of stators and rotors for electric motors and generators closed the first six months with revenues and EBITDA up in the first half to €453.8 million and €57 million respectively (+6.1% and +4.4% compared to the first half of 2022).
The strong growth in revenues from the EV & Automotive segment continues at 245.1 million: +73.1%.
Financial debt net decreases to 113.5 million versus 135.1 million as at 31 March 2023, with a leverage of 1.1x
The medium-term targets provided at the time of the IPO have been confirmed. Updated estimates for 2023 due to the unexpected persistence of unfavorable macroeconomic conditions relating to the Industrial segment. I waited revenues between 890 – 910 million, EBITDA between 116 – 120 million, Capex around 95 million, Net working capital between 150 – 160 million euros.
“It is expected that the reduction in revenues will have a less than proportional impact on margins thanks to the change in mix between the EV & Automotive and Industrial segments, also allowing for a lower absorption of net commercial working capital”, explains the company in the note. .