EQS-News: R. STAHL with strong order intake in the first quarter of 2025 – sales and profitability below prior year

R. STAHL with strong order intake in the first quarter of 2025 – sales and profitability below prior year

• Order intake reached a record high of € 98.8 million in the first quarter of 2025, exceeding the high level of the previous year (€ 92.3 million) and significantly exceeding the figure for the fourth quarter of 2024 (€ 72.4 million).
• Sales down 13.4% to € 73.3 million from January to March due to weak demand in the second half of 2024
• Profitability suffers from lower sales. EBITDA pre exceptionals decreased from € 8.4 million in the previous year to € 3.7 million in the first three months of 2025. This results in an EBITDA margin pre exceptionals of 5.0% (previous year: 9.9%).
• For 2025 as a whole, the Executive Board expects stable sales of between € 340 million and € 350 million and EBITDA pre exceptionals of between € 35 million and € 40 million.

Waldenburg, 6 May 2025 - Despite global challenges, demand for R. STAHL’s products and services increased significantly again in the first quarter of 2025. Sales and profitability will benefit from the positive trend in order intake in the second half of 2025.

Order intake of € 98.8 million at a very high level – order backlog increases to € 122.4 million

Significantly increased willingness on the part of customers to invest led to an order intake of € 98.8 million from January to March 2025. This figure was 7.1% higher than the high prior-year figure of € 92.3 million and was significantly higher than the order volume for the fourth quarter of 2024 (€ 72.4 million). While the order situation in Germany (-0.9%) and the Americas (+3.0%) remained stable in the first quarter of 2025 compared to the previous year, order intake in the Asia/Pacific region (+84.0%) increased significantly, supported by two major orders. Orders from the Central region (Africa, Europe excluding Germany), on the other hand, declined (-9.7%).

Order activity picked up significantly, particularly in the shipbuilding, petrochemical and oil & gas industries. As a result of the overall good demand in the first three months of 2025, order backlog increased to € 122.4 million as of 31 March 2025 (31 December 2024: € 95.8 million).

All sales markets contribute to 13.4 % decline in sales

As expected, weak demand in the second half of 2024 led to lower sales in the first quarter of 2025, with R. STAHL’s sales falling 13.4% to € 73.3 million between January and March 2025. Sales in Germany (-7.9%) and in the Central region (-10.1%) fell at a disproportionately low rate. The sales regions Americas (-19.6%) and Asia/Pacific (-26.0%) recorded more significant declines.

Decline in profitability as a result of lower sales

R. STAHL’s profitability was below the level of the previous year in the first three months of 2025. This was mainly due to the decline in sales and higher personnel costs as a result of collective bargaining agreements. EBITDA (earnings before interest, taxes, depreciation and amortization) pre exceptionals dropped in the first quarter of 2025 by € 4.8 million to € 3.7 million. The company’s profitability, measured by the EBITDA margin pre exceptionals, fell from 9.9% in the previous year to 5.0%. Net profit decreased by € 4.6 million to € -2.5 million (Q1 2024: € 2.1 million). This corresponds to earnings per share of € -0.39 (Q1 2024: € 0.33).

At € -4.0 million, free cash flow showed a slight improvement despite the lower net profit in the first three months (Q1 2024: € -4.3 million). This was mainly attributable to a lower increase in working capital of € 2.0 million compared to the previous year (Q1 2024: € 7.0 million). The equity ratio was unchanged at 27.3% as of 31 March 2025 (31 December 2024: 27.3%).

R. STAHL forecasts stable sales and profitability for the 2025 financial year

For 2025, the company expects limited growth in the relevant key markets based on the overall economic and industry-specific forecasts. Forecast uncertainties remain, in particular with regard to unforeseeable developments and the consequences of geopolitical events, international tariff policies and possible trade conflicts.

A recovery in demand at the start of 2025 gives the company reason to be cautiously optimistic about 2025 as a whole, especially the second half of the year. For the full-year, the Executive Board expects Group sales of between € 340 million and € 350 million (2024: € 344.1 million). Profitability is expected to stabilize in the current financial year. The Executive Board expects EBITDA pre exceptionals to be between € 35 million and € 40 million in 2025 (2024: € 34.4 million). In terms of free cash flow, R. STAHL expects a mid single-digit positive million euro amount in 2025 (2024: € 14.7 million).

“There was a noticeable recovery in demand for R. STAHL’s products and services the first quarter. We are therefore cautiously optimistic that the weakness in demand in the second half of 2024 has been overcome and that we will continue our profitable growth course from the second half of 2025”, says Dr. Mathias Hallmann, CEO of R. STAHL.

 

Key figures of R. STAHL Group for Q1 2025 pursuant to IFRS

€ million	Q1 2025	Q1 2024	Change in %
Sales	73.3	84.7	-13.4
Germany	18.6	20.2	-7.9
Central region1)	35.9	40.0	-10.1
Americas	8.1	10.1	-19.6
Asia/Pacific	10.7	14.4	-26.0
Order income	98.8	92.3	+7.1
Order backlog as of 31 March	122.4	122.0	+0.3
EBITDA pre exceptionals2)	3.7	8.4	-56.6
in % of sales	5.0%	9.9%
EBITDA	3.4	8.3	-58.9
EBIT	-1.3	4.1	n/a
Net profit	-2.5	2.1	n/a
Earnings per share (in €)	-0.39	0.33	n/a
Cashflow from operating activities	-0.4	-0.7	+39.0
Free Cashflow	-4.0	-4.3	+6.9
Depreciation and amortization	4.7	4.3	+9.3
Capital expenditures3)	3.5	3.6	-1.6
	31 March 2025	31 Dec 2024
Balance sheet total	263.4	265.2	-0.6
Shareholders’ equity	72.0	72.3	-0.5
Equity ratio	27.3%	27.3%
Net financial liabilities4)	34.2	28.8	+18.5
Net financial liabilities incl. lease liabilities	49.6	45.0	+10.4
Employees5)	1,732	1,743	-0.6

 

¹⁾ Africa and Europe without Germany
²⁾ Exceptionals: restructuring charges, unscheduled depreciation and amortization, charges for designing and implementing of IT projects, M&A costs, gains and losses form deconsolidation processes as well as gains and losses from the disposal of assets no longer required for business operations
³⁾ Cash and cash equivalents less interest-bearing loans
⁴⁾ Excl. apprentices

Percentages and figures in may include rounding differences. The signs used to indicate rates of changes are based on mathematical aspects. Rates of changes > +100% are shown as >+100%, rates of change <-100% as „n/a“ (not applicable)

 

Note
The quarterly statement Q1 2025 is available for download under the following link: https://r-stahl.com/en/global/corporate/investor-relations/ir-news-and-publications/financial-reports

 

Financial calendar 2025
3 June 32nd Annual General Meeting
7 August Interim Report H1 2025
4 November Quarterly Statement Q3 2025

 

About R. STAHL – www.r-stahl.com
R. STAHL is one of the world's leading suppliers of electrical and electronic products and systems for explosion protection. These products and systems prevent explosions in hazardous areas and contribute to the safety of people, machines and the environment. The portfolio covers the portfolio segments Electrical, Automation as well as Lighting and is completed by the cross-divisional function Customer Solutions. Typical customers are the chemical and pharmaceutical industry, the oil & gas industry – including LNG applications – as well as the food and beverage industry. Most of the R. STAHL products are also approved for use with hydrogen. In 2024, global sales amounting to around € 344 million were generated by 1,743 employees. The shares of R. STAHL AG are traded on the Regulated Market/Prime Standard of Deutsche Boerse (ISIN DE000A1PHBB5).

 

Forward-looking statements
This release contains forward-looking statements based on assumptions and estimates of R. STAHL’s management. Although we assume that the expectations of these forward-looking statements are realistic, we cannot guarantee that these expectations will prove to be correct. The assumptions may involve risks and uncertainties that could cause the actual results to differ materially from the forward-looking statements. Factors that may cause such discrepancies include: changes in the macroeconomic and business environment, exchange rate and interest rate fluctuations, the roll-out of competing products, a lack of acceptance of new products or services, and changes in business strategy. R. STAHL does not plan to update these forward-looking statements nor does it accept any obligation to do so.

___________________________________________
 

Investors’, analysts’ and journalists’ conference call of R. STAHL for Q1 2025

 

The Executive Board of R. STAHL AG will explain the results of Q1 2025 and will present an outlook for the current year

today at 10:00 am CET.

Afterwards they will be available for questions. The conference call will be held in English language.

To participate (acoustically) in the conference call, please use the link below. After registration, that you may do at any time, you will receive dedicated dial-in details to easily and quickly access the call at the specified time:
https://services.choruscall.it/DiamondPassRegistration/register?confirmationNumber=8429931&linkSecurityString=13c7d2924a

Along with the conference call, we will provide a presentation (visually only) through an online webinar. Please log on as a participant on the following website (no password required); this link is provided to you again with the dial-in details for the conference call:
https://www.webcast-eqs.com/rstahl-q1-2025/no-audio

A replay of the audio webcast will be available shortly after the conference call has ended on the company’s website in the section corporate > investor relations > IR news and ad hoc news > events and presentations (https://r-stahl.com/en/global/corporate/investor-relations/ir-news-and-publications/events-and-presentations)

We look forward to talking to you.

 

Contact:

R. STAHL AG
Judith Schäuble
Director Corporate Communications & Investor Relations
Am Bahnhof 30
74638 Waldenburg (Württ.)
Germany

Tel. +49 7942 943-1396
investornews@r-stahl.com