Bobst Group continued to record good order entries in the first half of 2023, but 22% lower compared to the record high first half year 2022.
Sales were at CHF 815m for the first six months of 2023 (H1 2022: CHF 773m). The operating result (EBIT) increased to CHF 47m (H1 2022: CHF 29m). The net result reached CHF 41m (H1 2022: CHF 21m). Sales and results for the first half-year were according to expectations. Net cash decreased from CHF 67 million at the beginning of the year to a net debt position of CHF 218 million at the end of June 2023. Order backlog at the end of June was 5% lower than in previous year.
The Group expects a good second half of the year due to the high backlog and service activities but there are also risks which can negatively impact the full year results. Producing and installing all the machines scheduled for the second half of the year remain a big challenge and needs further improvements in the parts and materials supply chain.
During the first half of 2023, consolidated sales amounted to CHF 814.6m, representing an increase of CHF 42.1m, or 5.4%, compared with the same period in 2022. Volume and price variances had a positive impact of CHF 66.2m, or 8.6%. The exchange rates had an overall negative impact on sales of CHF 25.9 million, or -3.4%.
An improvement of CHF 1.8m or +0.2%, came from the acquisition of Dücker Robotics s.r.l., Momo, Italy, completed on 28 April 2023.
For the full year, order entries should remain at a similar level as in the first six months of this year. The uncertainties caused by the still too high inflation in core markets, by the unpredictable supply chain, the geopolitical situation and slowing end-user consumption could however lead to a further slowdown in the second half of 2023.