COMPONENTA CORPORATION Business Review
January-March 2024
Sami Sivuranta
President and CEO
Componenta Corporation
Finland's leading contract manufacturer of metal components
6.5.2024
The result for January-March 2024
Key figures
- Net sales was EUR 23.6 million (EUR 30.7 million)
- EBITDA was EUR -0.2 million (EUR 2.8 million)
- The operating result was EUR -1.5 million (EUR 1.4 million)
- Cash flow from operating activities was EUR -0.8 million (EUR 0.7 million)
Financing
- The Group's cash and cash equivalents at the end of March were EUR 4.3 million (EUR 9.7 million)
- At the end of the review period, the group had a subscription limit of USD 8.0 million, of which the unused portion was USD 7.5 million
- Componenta had unused binding revolving credit facilities of EUR 3.0 million (EUR 4.0 million)
- After the review period, Componenta agreed and took out a new working capital loan of EUR 2.0 million
- The Group's liquidity was at a good level at the end of the review period
Market situation
- Development of end customers' order books at a more modest level than expected
- Direct and indirect effects of political strikes
- The availability of raw materials, materials and electrical energy is at a good level
- Componenta's order book at the end of the review period was EUR 15.8 million
6.5.2024 | 2 |
Topical during the reporting period
Customers and order book
- General market situation and decision-making
- Production volumes and market shares and their development
- Stock optimizations and adaptation of operations
- Development of raw material and electrical energy indices and other sales price changes
Operating environment
- The general situation of the economy and the effects of geopolitical crises
- Labor market situation and political strikes
- Energy cost development and predictability
- Availability of materials and components and expectations for cost development
Personnel and own actions
- Flexibility, endurance and commitment of own personnel
- Low operating rates, quality productivity and adaptation to production needs
- Ensuring material and raw material purchases and cost development
6.5.2024 | 3 |
Net sales by customer segments
Machine building | Agricultural and | Energy industry | Defense equipment | Other industries |
forestry machinery | industry | |||
45 % (46%) | 37 % (38 %) | 9 % (8 %) | 4 % (2 %) | 5 % (6 %) |
6.5.2024 Figures from 2023 | 4 |
Net sales
EUR, million
35
30 | 30.7 | 29.5 |
25 | 23.6 | |
21.7 |
20 | 19.9 | |
15
10
5
0
2023/Q1 | 2023/Q2 | 2023/Q3 | 2023/Q4 | 2024/Q1 |
6.5.2024 | 5 |
EBITDA
EUR, million
32.8
2.6
2.5
2
1.5
1
0.5 | 0.4 | ||
0
-0.5
-0.2
-0.5
-1
2023/Q1 | 2023/Q2 | 2023/Q3 | 2023/Q4 | 2024/Q1 |
6.5.2024 | 6 |
Cash flow from operating activites
EUR, million
6
5
4
3
2
1
0
-1
-2
-3
-4
4.7
0.7
-0.8
-1.6
-2.7
2023/Q1 | 2023/Q2 | 2023/Q3 | 2023/Q4 | 2024/Q1 |
6.5.2024 | 7 |
Componenta in brief
Component contract manufacturing
Customers are global manufacturers of vehicles, machines and equipment
Key figures
Jan‒Mar/ | ||
2024 | ||
• | Net sales, EUR million | 23.6 |
• | EBITDA, EUR million | -0.2 |
- Operating profit, EUR million -1.5
- Cash flow from operating
activities, EUR million | -0.8 |
Jan‒Mar/ Personnel 1 Jan−31 Mar
2023 | 2024 | |||
30.7 | 3 %2 % | |||
5 % | ||||
2.8 | Foundry | |||
1.4 | ||||
35 % ̴588 | 55 % | Machining | ||
Tube Service | ||||
0.7 | Plate Service | |||
Forge | ||||
Guidance 2024
Componenta expects the Group's net sales and EBITDA to improve from the previous year. The Group's net sales in 2023 were EUR 101.8 million, and its EBITDA was EUR 5.3 million. It is expected that the emphasis of the improvement in annualized net sales and EBITDA will be clearly taking place on the second half of the year.
6.5.2024 | 8 |
In focus in 2024
- Ensuring growth and profitability improvement
- Active order base tracking and cost adjustment
- The ramp-up of new serial production and qualitative development
- The labor market situation and its effects on business
- The availability of materials, the development of purchase and sale prices, and the situation in the electricity market
- Action plans for the new strategy period
- Our objective is to be the primary supplier of contract manufacturing
6.5.2024 | 9 |
21.2.2024 | 10 |
Attachments
- Original Link
- Original Document
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Disclaimer
Componenta Oyj published this content on 07 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 May 2024 09:37:02 UTC.
