RENK Group AG Reports Record Figures in H1 2024, Revises Guidance Upwards

RENK Group AG has announced impressive results for the first half of 2024, highlighting a 24.4% increase in revenue to €510 million. The surge is attributed primarily to the defense and aftermarket sectors. Adjusted EBIT also rose by 9.4% to €69 million.

The second quarter alone delivered record revenues of €273 million with an order intake more than doubling to €419 million. The total order backlog saw a 10.1% increase, hitting €4.7 billion.

Given these strong performances, RENK Group has revised its annual guidance, predicting revenues of approximately €1.1 billion and an adjusted EBIT between €175 and 190 million. CEO Susanne Wiegand noted, "All three segments contributed to this success."

Significant growth was observed in the Vehicle Mobility Solutions and Marine & Industry segments, with notable increases in revenue and order intake. The Slide Bearings segment also reported substantial revenue growth and improved adjusted EBIT.

RENK Group plans to increase its mid-term targets, aiming for 15% annual revenue growth and an adjusted EBIT of €300 million, reflecting ongoing positive business developments.