Metall Zug AG Sees Significant EBIT Increase in H1 2024

Metall Zug AG reported net sales of CHF 181.2 million for the first half of 2024, down from CHF 228.4 million the previous year. However, the company's operating result (EBIT) rose dramatically to CHF 60.4 million, driven primarily by a one-time gain of CHF 66.6 million from the SteelcoBelimed joint venture. Adjusted for this, EBIT saw a decrease of CHF 13.2 million.

The SteelcoBelimed joint venture, which began operations on June 7, 2024, contributed significantly to this financial performance. Metall Zug holds a 33% stake in the new entity. Despite lower sales in the Medical Devices and Infection Control units, the Technologycluster & Infrastructure unit managed to improve its EBIT.

Looking ahead, the company cites economic and political uncertainties as challenges, but a slight increase in sales is expected in the Medical Devices unit. Overall EBIT is forecasted to remain flat in the second half of 2024.