Edding Reports Preliminary Results for H1 2024; Adjusts Full Year Guidance

Edding Aktiengesellschaft has released preliminary results for the first six months of the 2024 financial year, indicating group sales revenues of EUR 77.7 million, slightly down from EUR 78.1 million last year. Despite a slow first quarter, the second quarter saw a 6% rise in sales compared to Q2 2023. However, the Office & Industry Supplies (OFIS) growth was offset by declines in other business units, notably Collaboration @Work (COWO).

The group's operating result (EBIT) improved to EUR 2.8 million, up from a negative EUR 5.1 million in 2023. Nonetheless, the discontinuation of the edding TATTOO business due to regulatory compliance issues has resulted in a EUR -1.2 million EBIT for the Lifestyle unit.

For the full year 2024, Edding has adjusted its forecast, lowering expected group sales revenues to EUR 158.0 million - EUR 168.0 million from the previous EUR 161.0 million - EUR 176.0 million. EBIT expectations have also been revised downward to EUR 0.0 million - EUR 3.0 million from EUR 3.0 million - EUR 6.0 million.

The updated guidance reflects challenges in the COWO unit and in Edding France, as well as various one-off costs, including those related to SAP S/4HANA implementation. Despite these revisions, Edding remains optimistic about meeting its mid-term financial targets for 2026.