27.feb.2024 - Stokke
ALSO Holding AG performs in a challenging environment
At 257 million euros (reported: 247 million euros), the previous year's operating result was slightly exceeded. This was driven by
• further increasing operational excellence,
• growth in the cloud.
A decline in sales of around 1.4 billion euros meant that EBITDA was slightly outside the target corridor (265 to 305 million euros). The main reasons were
• optimisation of the customer structure to reduce risks,
• a reluctance to buy, particularly in Germany and Poland, due to the unstable geopolitical situation.
In the second half of 2023, this was also reflected in an increasing postponement of investments in the Commercial segment. Operational measures, new business models and markets could almost offset the resulting EBITDA impact.
A positive effect could be achieved by the active management of net working capital, leading to an optimisation of free cash flow (347 million euros, +339%) and ROCE.
Based on the liquidity situation and the excellent prospects for the future, the Board of Directors is proposing an increase in the dividend to shareholders for the twelfth time in a row.
Gustavo Möller-Hergt, CEO of ALSO Holding AG (SIX: ALSN): “Organisations and individuals will only be able to reap the benefits of new technologies if they invest in new IT infrastructures. This fact promises the current and future success of companies operating in this environment. We will therefore continue to drive expansion into new markets and technologies with the help of our well-filled acquisition pipeline.“
Against this background, ALSO is increasing its short and medium-term targets.