Indus Holding AG (INHG), a German company, on Thursday recorded a decline in preliminary sales for the full year, mainly due to the current difficult economic conditions.
For the 12-month period, the company reported operating income, or EBIT, of 126.7 million euros, lower than last year's 149.6 million euros. Excluding items, EBITA stood at 153.7 million euros as against the previous year's 188.1 million euros.
The company registered sales of 1.72 billion euros, down from the previous year's 1.80 billion euros.
Looking ahead, Johannes Schmidt, Chairman of the INDUS Board, said: "By withdrawing from automotive series production and realigning our portfolio, we have paved the way for stronger growth. We are therefore confident about the current financial year despite the still fragile environment."
Indus Holding is expected to release its full-year 2024 earnings report on March 24.
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