EQS-News: Novem Group S.A. confirms preliminary results for FY 2023/24

Novem Group S.A. confirms preliminary results for FY 2023/24

• FY 2023/24 revenue of €635.5 million, -9.3% below FY 2022/23
• Adj. EBIT¹ of €69.1 million, -15.5% below PY
• Solid order intake in the last 12 months supporting medium-term guidance
• Proposal to pay no dividend for 2023/24

Luxembourg, 27 June 2024 – Novem Group S.A. today published its audited results and confirmed the preliminary figures for the financial year 2023/24. On a full-year basis, Novem generated a total revenue of €635.5 million, which corresponds to a decline of -9.3% compared to previous year. In a demanding environment, the Company reported a solid Adj. EBIT margin¹ of 10.9%.

Due to the adverse market development, the Management Board, in agreement with the Supervisory Board, will propose to the Annual General Meeting on 22 August 2024 not to distribute a dividend for the financial year 2023/24.

Dr. Johannes Burtscher, Chief Financial Officer, said: “Even under challenging market conditions, we delivered a solid performance. Nonetheless, the economic uncertainties and the current volatile environment allow for a limited visibility only and are the reasons for our proposal not to pay a dividend for the financial year 2023/24.”

The audited figures and the Annual Report for the financial year 2023/24 can be found on the Investor Relations website under Reports & Presentation. The Annual Report also includes the Non-financial Report, which covers Novem's sustainability progress.

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1   For the definition/calculation of the used Alternative Performance Measures (APMs), please refer to the glossary provided in the corresponding Annual Report 2023/24, which can be found on the Investor Relations website under Reports & Presentation.

About Novem

Luxembourg-headquartered Novem is a globally leading supplier of decorative interior trim parts for the premium automotive industry. Across the range of key materials such as genuine wood, aluminium, carbon and premium synthetics, the Company offers unrivalled quality, technology and innovation to a growing customer base including all major premium carmakers worldwide. Founded in 1947 in Vorbach, Germany, the Company has continuously expanded its global footprint in Germany, Italy, Czech Republic, Slovenia, China, USA, Honduras and Mexico. Novem employs about 4,900 people at 12 locations and achieved revenue of more than €635 million in FY 2023/24.

For more information, please visit www.novem.com.