Novem Group S.A. Confirms Preliminary Results for FY 2023/24

Novem Group S.A. has released its audited results for the financial year 2023/24, confirming preliminary figures. The company reported a total revenue of €635.5 million, reflecting a decrease of 9.3% compared to the prior year. The adjusted EBIT1 stood at €69.1 million, down by 15.5% year-on-year, yielding a solid margin of 10.9% despite challenging market conditions.

Given the adverse market environment, both the Management and Supervisory Boards proposed to abstain from distributing a dividend for the financial year 2023/24. This decision is set to be presented at the Annual General Meeting on 22 August 2024.

Dr. Johannes Burtscher, Chief Financial Officer, emphasized the importance of maintaining caution due to economic uncertainties and market volatility. Furthermore, Novem highlighted a strong order intake over the last 12 months, supporting their medium-term outlook.

The full audited report and accompanying Non-financial Report can be accessed on Novem's Investor Relations website under Reports & Presentation.