Revenues also lower

Zumtobel had to accept losses in profit

The Vorarlberg-based lighting manufacturer Zumtobel suffered losses in revenues and profits in the past 2023/24 financial year. Revenues fell by 6.8 percent to EUR 1.1 billion; adjusted for currency effects, the decline amounted to 5.8 percent. The bottom line was a company profit of 24.7 million euros after 60 million euros in the previous year, as the company announced on Wednesday.

In its statement, the company referred to the difficult economic conditions, which it had felt particularly in the components business. The Components segment recorded a decline in sales of 18.5 percent to EUR 299.4 million, which was due to continued subdued demand as a result of persistently high customer inventories and strong price competition. In contrast, the Lighting Segment recorded only a slight decline in sales of 1.5% to EUR 889.3 million.

Adjusted operating earnings (adjusted EBIT) amounted to EUR 57.3 million in the 2023/24 financial year after EUR 84.3 million in the previous year. The adjusted EBIT margin amounted to 5.1% and was therefore in the middle of the forecast range of 4% to 6%. In view of the uncertain global environment, the management is "only cautiously optimistic" for the 2024/25 financial year that has just started. Revenues are expected to be "slightly above the previous year's level", with an EBIT margin of between three and six percent.