R&S Group’s preliminary 2024 key figures confirm growth path, strong profitability and solid cash conversion

Ad hoc announcement pursuant to Art. 53 LR

R&S Group’s preliminary 2024 key figures confirm growth path, strong profitability and solid cash conversion

• FY 2024 net sales of CHF 282.6 million
• Adjusted EBIT of CHF 65.1 million, corresponding to 23.0% EBIT margin
• Record order backlog of CHF 278 million at year-end
• Confirmation of forward-looking guidance also thanks to a promising start in 2025

6 March 2025 – R&S Group Holding AG (SIX: RSGN) today announces preliminary unaudited key figures for the full year (FY) 2024. Net sales, including the first-time consolidation of Kyte Powertech from 20 August 2024 onward, amounted to CHF 282.6 million versus CHF 201.6 million in 2023¹⁾. This is in line with the guidance provided at the Capital Markets Day on 31 October 2024. Order intake at CHF 305.5 million reached a new record (2023: CHF 245.0 million) and bodes well for future sales.

All markets and product groups contributed to the good topline developments, but particularly new markets such as Germany, the Baltics and Nordic countries performed well with applications in renewables and data centers. Initial sales in harbor applications also had a positive impact on Group revenues.

In a market that continues to benefit from buoyant dynamics, R&S Group closed the year with a record order backlog of CHF 278.0 million, compared with CHF 185.7 million at year-end 2023.

EBIT (reported) amounted to CHF 62.7 million (EBIT margin at 22.2%) and to CHF 65.1 million when adjusted for an extraordinary Irish employee benefit program, representing an adjusted EBIT margin of 23.0%. This was achieved mainly thanks to higher gross margins resulting from continued growth and productivity measures during the year (FY23: CHF 37.5 million or 18.6% margin). Cash conversion was particularly strong in the second half of the year, resulting in a net debt position of CHF 91.3 million (net leverage ratio of 1.4x).

On the back of the strategic initiatives as previously announced and execution thereon, R&S Group reiterates its guidance of around 12% net sales growth and an EBIT margin of around 20%. The free cash flow margin is projected to be in the range of 10-12% of net sales due to capacity expansion plans for 2025 and 2026. As previously announced, the Group foresees a stable dividend of CHF 0.50 per share until 2026.

R&S Group will provide further information on 15 April with the publication of the Annual Report 2024.
 

Calendar 2025

_{¹⁾ excluding sales of the Czech switches business divested at the end of 2023}

Contact Investor and Media Relations
Doris Rudischhauser
Phone: +41 79 410 81 88
Email: investors@the-rsgroup.com

About R&S Group
R&S Group Holding AG’s (“R&S Group”, the “company”) operating headquarters are located in Sissach/BL, Switzerland. With eight manufacturing facilities in Switzerland, Italy, Poland, Ireland and the Middle East, the group serves its domestic and various European markets with single-phase, small and medium distribution and power transformers and other components under the brands of Rauscher & Stoecklin, ZREW, Tesar and Kyte. R&S Group’s customers are active in the utility, infrastructure and industrial sectors. The company has been successfully positioned to benefit from the accelerating demand for energy production and distribution, driven by the global trend towards decarbonization. R&S Group has been listed on SIX Swiss Exchange since 13 December 2023 under the ticker symbol RSGN. On 20 August 2024, the company acquired Kyte Powertech, a leading supplier of distribution transformer solutions based in Cavan, Ireland, thus significantly expanding geographic footprint to Ireland, the UK, Benelux and France, and adding complimentary products.

Further information about the R&S Group can be found at www.the-rsgroup.com.
 

Disclaimer
This communication expressly or implicitly contains certain forward-looking statements concerning R&S Group Holding AG and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of R&S Group Holding AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. R&S Group Holding AG is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.