Gilching (pta/02.11.2022/10:30) -
The supervisory board of Dr. Hönle AG today approved the Management Board's proposal to initiate restructuring measures at the subsidiary Raesch Quartz (Germany) GmbH, Ilmenau, while safeguarding the rights of the bodies responsible for operational co-determination. In order to implement this decision, the production and administration of Raesch Quarz (Germany) GmbH in Ilmenau are to be shut down. A total of around 70 jobs are expected to be lost as a result of these measures. The measures should be completed in the first half of the 2022/2023 financial year.
The high energy prices and the price situation on the procurement markets for raw materials are having a significant impact on the earnings situation at Raesch Quarz (Germany) GmbH. In addition, the price increases could not be passed to the customers in the corresponding amount. The Hönle Group also expects that if business activities are continued, the gross profit margins will be burdened by high electricity and sand costs. The continuation of business operations at Raesch Quartz (Germany) GmbH would therefore have a lasting negative effect on the future earnings of the Hönle Group.
As a result of the shutdown of Raesch Quartz (Germany) GmbH, a sustainable annual improvement in the operating result (EBIT) of between EUR 3 million and EUR 4 million at group level is to be achieved from the 2022/2023 financial year on.
These one-off expenses for the Hönle Group due to the restructuring measures in the 2021/2022 financial year are expected to total around EUR 12.5 million. The Management Board therefore expects sales of EUR 125 million to EUR 130 million and an operating result (EBIT) of EUR -3 million to EUR -4 million for the Hönle Group in the 2021/2022 financial year.
To date, the Executive Board has been expecting sales of between EUR 125 million and EUR 130 million (PY: EUR 115 million) and an operating result (EBIT) of between EUR 9 million and EUR 11 million (PY: EUR 0.3 million). Without the one-time special effects from the restructuring, the Hönle Group will probably achieve the communicated sales and earnings targets.
Dr. Hönle AG is a listed technology company headquartered in Gilching, Germany. With its nearly 700 employees, the Hönle Group develops innovative solutions for a wide variety of industrial manufacturing processes. One focus of its activities is the development and sale of industrial adhesives and casting compounds. Moreover, the company manufactures equipment for ink and paint drying, adhesives and plastic curing as well as for air, water and surface disinfection and sunlight simulation. In addition, the corporate group produces UV lamps for disinfection and drying processes, among others, and manufactures tubes and semi-finished products made of quartz glass for use in various branches of industry. The Hönle Group supplies technology and world market leaders worldwide and is represented by its own entities and partner companies in more than 20 countries.
Dr. Hönle AG
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