This morning Kendrion published the Q1 2024 results, and these are the highlights:
• Q1 2024 revenue amounted to EUR 133.0 million, a decrease of 3% compared to Q1 2023 (EUR 136.8 million)

• Significantly improved profitability in Industrial Brakes compared to H2 2023, despite ongoing market weakness in Industrial Brakes

• Normalized EBITDA increased by 3% to EUR 16.1 million, up from EUR 15.7 million in Q1 2023

• With a strong emphasis on cashflow management, the leverage ratio remained stable at 2.7, unchanged from Q4 2023 (Q1 2023: 2.6)

• Kendrion to become a pure play Industrial company following the sale of the Automotive business in Europe and United States to Solero Technologies; closing expected in Q3 2024

• Reported net profit from continued operations of EUR 4.2 million, down from EUR 5.3 million in Q1 2023

• Loss from discontinued operations totaled EUR 1.5 million (compared to EUR 0.4 million loss in Q1 2023), which includes EUR 3.8 million measurement to fair value less expected transaction costs

Attached you will find the complete press release. This information has also been posted on Kendrion.com.

At 11.00 am (CET), CEO Joep van Beurden and CFO Jeroen Hemmen will hold the Analysts’ conference call. The recording of this call will be posted on the website as soon as it is available.

Kind regards,
Margreet K. van der Veen

Executive Assistant

tijd 10.53
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