Lumibird Group sees higher results in Medical division but lower in Photonics for first half 2024.

From Globe Newswire.: 2024-09-24 11:45:00

Lumibird Group reports higher results in the Medical division but lower in the Photonics division for the first half of 2024. EBITDA at €10.9m, with Medical division at 17.6% and Photonics at 4.3%. Sales revenue growth of over 5% anticipated for 2024. Group maintains 3-year objectives of 2024-2026 plan.

Despite stable sales revenue in first half 2024, Lumibird Group sees a 1% growth in consolidated sales revenue. Medical division posts sales revenue at €50.8m, down slightly by 1%. Photonics division records revenues of €47.2m, with a mixed performance due to various factors affecting different markets.

Gross margin for Photonics division at 59.9% and for Medical division at 61.4% in the first half of 2024. EBITDA for the first half was €10.9m, representing 11.1% of revenues, compared to 14.2% in 2023. Cash flow shows solid generation of operating cash flow in the first half.

Net financial debt at €90.0m as of June 2024, compared to €88.9m in December 2023. Lumibird retains solid financial position with good gearing and leverage ratios. Outlook for 2024 includes sales revenue growth of over 5%, EBITDA target of over 16%. Objectives for 2024-2026 plan confirmed, focusing on growth and innovation.



Read more at Globe Newswire.:: FIRST-HALF RESULTS FOR 2024 UP IN THE MEDICAL