Burckhardt Compression continues to deliver strong growth and increased profitability
Burckhardt Compression delivered strong results in the first half of fiscal year 2024:
Order intake of CHF 615.2 mn, up 5.8% year-on-year
Sales of CHF 436.8 mn, up 7.1% year-on-year
Increased gross margin from 26.7% to 29.3%
Increased EBIT margin from 11.0% to 11.8%
Operating income (EBIT) of CHF 51.7 mn, up 15.2% year-on-year
RONOA of 28.6%, at a similar level to the previous year
The Group confirms its guidance for the fiscal year 2024
Sales between CHF 1.0 bn and CHF 1.1 bn
EBIT margin at a similar level to the fiscal year 2023
The sustainability roadmap on track:
New applications related to the energy transition
Strong increase in renewable electricity usage
WINTERTHUR, Switzerland, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Burckhardt Compression delivered strong growth in order intake, sales, and operating income in the first half of fiscal year 2024. The Company continues to demonstrate its operational strength and competitive positioning in markets transitioning towards a sustainable energy future. "Both Divisions successfully grew revenue and increased profitability. This strong performance amid continued macroeconomic challenges underscores the Group's resilience and remarkable dedication of our employees," said Fabrice Billard, CEO of Burckhardt Compression.
Significant growth in order intake, sales, operating profit, and net incomeIn the first half of fiscal year 2024, Burckhardt Compression expanded its order backlog with a strong order intake of CHF 615.2 mn, representing 5.8% growth over the previous year period. Growth was again affected by the stronger Swiss Franc, amounting to 6.4% net of currency translation effects. The strong sales growth of 7.1% to CHF 436.8 mn (7.7% net of currency translation effects) reflects the substantial ramp-up of deliveries in the Systems Division and increased revenue in the Services Division. Both Divisions increased gross margins, yielding a total gross margin of 29.3% (previous year: 26.7%). The resulting gross profit of CHF 127.9 mn was 17.4% above the prior year period. Research & Development expenses increased by CHF 0.5 mn to CHF 13.8 mn (3.2% of sales) as Burckhardt Compression continues to develop innovative solutions for the Marine and Hydrogen Mobility and Energy markets as well as Digital Products and Services. Overall, the consolidated operating income (EBIT) increased by 15.2% to CHF 51.7 mn, leading to an increased EBIT ...
