Ringmetall divests Industrial Handling segment through sale of HSM and publishes new outlook for the full year

Munich, 30 June 2023 - Ringmetall SE (ISIN: DE000A3E5E55) sells with effect from today its subsidiary HSM GmbH & Co. KG, based in Ernsgaden, Germany. The buyer is HSM Präzisionsteile & Sicherheitssysteme GmbH i. Gr., a subsidiary of Theilen Holding GmbH, Miltenberg. The parties involved have agreed not to disclose the purchase price.

With the disposal of HSM as of 30 June 2023, Ringmetall simultaneously closes its Industrial Handling segment and will focus exclusively on the Industrial Packaging segment in the future. The disposal of HSM leads to a one-time special item in the amount of about EUR -4.7 million from deconsolidation effects.

Together with the acquisition of Protective Lining and the acquisition of Liner Factory, the sale of HSM already represents the company's third M&A transaction in the first half of 2023. As effects from M&A transactions are explicitly not part of the outlook for the business development in the full year, the Management Board of Ringmetall Group has decided to formulate a new outlook for the fiscal year 2023. This contains the effects from all three transactions as well as the effects from the change in the relevant raw material prices and exchange rates from the first half of the year and furthermore reflects the current economic situation.

Accordingly, the Management Board expects consolidated revenue in the range of EUR 175 to 195 million (previous outlook: EUR 195 to 220 million) with EBITDA in the range of EUR 13 to 18 million (previous outlook: EUR 22 to 28 million) in the current fiscal year 2023. The outlook is based on unchanged raw material prices and exchange rates compared to 30 June 2023. It does not include the effects of acquisitions planned in the further course of the year, including the resulting transaction costs.

--- End of Ad Hoc Release ---