Zumtobel Group AG: Adjustment of revenue guidance for the 2023/24 financial year – EBIT margin remains unchanged at 3% to 6%

Dornbirn (pta037/22.08.2023/20:15 UTC+2)

The development of revenue during Q1 2023/24 was stable in the Lighting Segment, but declined by 25.4% in the Components Segments from the very strong prior year level of EUR 103.2 million to EUR 77.0 million. Contrary to the previous outlook, demand in the substantially more short-term Components Segment failed to develop the expected momentum, chiefly due to customers' continued high stock levels. Consequently, Group revenue declined by 9.0% to EUR 285.6 million in Q1 2023/24 (Q1 2022/23: EUR 313.7 million).

Due to the lack of dynamics in the short-term components business and the tense economic climate, the Management Board of the Zumtobel Group now expects a revenue decline in the mid-single digit range for the 2023/24 financial year (previous guidance: revenue growth of 1% to 4%). The expected EBIT margin of 3% to 6% for the 2023/24 financial year is confirmed – providing there is no further deterioration in the economic environment.

The full quarterly report together with details on the first quarter as of 31 July 2023 will be published in accordance with the financial calendar on 6 September 2023.

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Emitter:	Zumtobel Group AG Höchster Straße 8 6850 Dornbirn Austria
Contact Person:	Eric Schmiedchen
Phone:	+43 5572 509 1125
E-Mail:	eric.schmiedchen@zumtobelgroup.com
Website:	z.lighting
ISIN(s):	AT0000837307 (Share)
Stock Exchange(s):	Vienna Stock Exchange (Official Trade)