SANHA GmbH & Co. KG with continued positive development in the first nine months of 2024

• Revenues increase in the first nine months of 2024 by 1.9% to EUR 92.9 million
• EBITDA rose from EUR 15.3 million to EUR 15.9 million with an EBITDA margin of 17.1%
• Revalorisation of the outstanding bond volume to EUR 33.7 million

Essen, 15 October 2024 – SANHA GmbH & Co. KG, one of the leading manufacturers of piping systems, is continuing its positive development in the 2024 financial year. Cumulative revenues at the end of September totalled EUR 92.9 million, up +1.9% on the previous year. The industrial and refrigeration business in particular, which SANHA has successfully expanded in recent years as part of the diversification of its business model, recorded strong growth in the first nine months. Thanks to its broad-based customer and product portfolio and the positive business development in important foreign markets such as the USA and Australia, SANHA was able to compensate for the fluctuations in demand in some European markets.

Profitability also improved again in the first nine months of the 2024 financial year. SANHA recorded an increased gross profit of EUR 57.2 million and a significantly improved gross profit margin of 59.1% (previous year: EUR 52.1 million or 54.8%). EBITDA also increased in the first nine months of the financial year by EUR 0.6 million to EUR 15.9 million with an increased EBITDA margin of 17.1% (previous year: 16.7%). The operating result (EBIT) totalled EUR 11.6 million (previous year: EUR 11.4 million).

Bernd Kaimer, Managing Partner of the long-established family business, which has its 60^th anniversary this year: “Despite the overall economic challenges, we were able to continue growth in the first nine months thanks to our successful strategy of broad diversification across a large number of different sectors and countries. The resilience of our business model is once again underlined by our performance to date in 2024. Our high level of investment in automation, modern production machinery and digitalization, including the use of artificial intelligence, is proving to be an important pillar of our positive earnings performance. It is particularly pleasing that the development in the third quarter was slightly above the first and second quarters in all performance and earnings categories, which fully confirms our expectations from earlier this year. Our order pipeline is well-filled across all regions and sectors, which means that we are also positive about the fourth quarter of 2024. Against this backdrop, we expect a further improvement in our balance sheet ratios, including the equity ratio, which already stands at 23.6% at the end of September 2024.”

Outstanding bond volume reduced to EUR 33.7 million

Following previous buybacks to reduce liabilities, SANHA has formally cancelled bonds in its own portfolio of the 2013/2026 corporate bond (WKN: A1TNA7 / ISIN: DE000A1TNA70) and accordingly revalidated the outstanding bond volume from EUR 37.1 million by EUR 3.4 million to EUR 33.7 million. As previously announced, SANHA is currently considering various options as part of the regular review of its financing strategy, particularly with regard to the refinancing of the bond. A range of measures are being considered, including the issue of a new corporate bond including an exchange offer.

About SANHA

SANHA GmbH & Co. KG is a leading manufacturer of piping systems. The products of the 100% family-owned industrial company are used in many sectors, including building services, refrigeration technology, fire protection and numerous industrial applications such as technical gases. SANHA holds around 250 product certifications for the various applications. The company based in Essen has around 700 employees and is active in 50 countries worldwide. Around 10,000 products, primarily piping systems made of copper, copper alloys, stainless steel, carbon steel and plastic are manufactured in four plants in Germany and other European countries.

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Investor Relations / Press:

Fabian Kirchmann, Johannes Kaiser
IR.on AG
Phone: 0221-9140970
E-mail: SANHA@ir-on.com