Carlo Gavazzi Holding AG

Latest Results (20.08.2024):

Revenue Decline

In the 2023/24 financial year, Carlo Gavazzi Holding AG reported a significant decline in revenue from the sale of goods, which fell by 17.8% to CHF 172.2 million, compared to CHF 209.6 million in the previous year. This decline was attributed to a general slowdown in the industrial and building automation markets, driven by customers' excess inventory across all geographies.

Bookings and Book-to-Bill Ratio

Carlo Gavazzi Holding AG experienced a sharp decrease in bookings, which dropped by 41.7% to CHF 134.0 million in the 2023/24 financial year, down from CHF 229.8 million in 2022/23. This resulted in a book-to-bill ratio of 0.78, indicating that the company received fewer orders than it fulfilled during the year.

Gross Profit and Margin

The gross profit for Carlo Gavazzi Holding AG decreased by CHF 14.8 million to CHF 94.7 million in the 2023/24 financial year, down from CHF 109.5 million in the previous year. Despite the decline in gross profit, the gross margin improved to 55.0%, up from 52.2% in 2022/23, due to a favorable evolution of the customer mix.

Operating Profit (EBIT)

Operating profit (EBIT) for Carlo Gavazzi Holding AG declined to CHF 25.3 million in the 2023/24 financial year, compared to CHF 39.3 million in the previous year, representing a decrease of 35.6%. The EBIT margin also decreased by 4.1 percentage points to 14.7%, down from 18.8% in 2022/23.

Net Profit and Equity

Carlo Gavazzi Holding AG's net profit for the 2023/24 financial year amounted to CHF 18.7 million, a decrease of 33.7% from CHF 28.2 million in the previous year. The total equity attributable to the owners of the Group increased to CHF 139.2 million, up from CHF 131.9 million in 2022/23, resulting in an equity ratio of 76.4%.