- Explosion protection specialist steel increases sales
Stahl, a specialist in explosion protection, has made good business in the first half of the year and is on track to achieve its annual targets. Compared to the previous year's period, sales increased by 12.4% to €174 million, as announced by the listed mid-sized company from Waldenburg (Hohenlohe district). EBIT rose by 8% to €10.3 million, with net income increasing by 2.5% to €5.8 million.
Order intake was around €181 million, down 2.8% from the previous year's €186 million. However, customer investment readiness was high. From January to June, order intake from central regions - Africa and Europe excluding Germany - increased significantly. In other regions, intake was slightly lower.
Demand has picked up
CEO Mathias Hallmann stated: "Customer demand has picked up and the strategic measures we have taken are working." In the current year, processes in the finance and IT sectors are to be optimized, which will lay the foundation for future cost savings.
The company is confident of achieving its 2024 targets. For the current year, the company expects sales of €335 to €350 million, compared to €330.6 million in 2023. Furthermore, management expects EBITDA before special items for 2024 to be between €35 and €45 million, after €38.6 million in the previous year.
Stahl employs around 1,750 people
Stahl sees itself as one of the leading providers of electrical explosion protection. The technology company produces, for example, switches and luminaires that either do not generate electrical sparks or shield them from explosive gas-air mixtures. Customers come from the oil and gas industry, as well as the pharmaceutical and chemical sectors. As of the end of June, the company employed around 1,750 people.
Stahl's offerings often include products made of 'other materials' such as iron or steel, catering to various industries. The company's extensive portfolio includes switches and luminaires made from materials like 'iron or steel', ensuring electrical safety even in explosive environments.
