In a challenging economic environment, HUBER+SUHNER saw solid growth in order intake and sales in 2024. The positive development was mainly due to the good momentum in the Communication segment as well as successes in the aerospace and defense growth initiative within the Industry segment. Overall, the Group proved resilient thanks to its balanced diversification and focus on attractive growth initiatives.
Order intake increased by 10.5 % year-on-year to CHF 908.0 million, while net sales rose by 5.0 % to CHF 893.9 million. Adjusted for currency, copper price and portfolio effects, sales growth was even at 6.4 % compared to 2023.
Industry segment catches up in second half
The Industry segment made headway in the second half of 2024, resulting in significantly higher order intake and only slightly lower net sales than in the previous year. The aerospace and defense growth initiative recorded an increase in both orders and sales, as the subsegment benefits from rising defense spending and continued investments in commercial satellite programmes. Higher orders were also achieved in all other subsegments, but did not consistently lead to an increase in sales. In particular, sales in the high power charging subsegment have not yet followed the recovery in orders.
Communication segment with strong contribution to overall development
The Communication segment recorded double-digit percentage growth in order intake and net sales, making a significant contribution to the Group's overall development. This was mainly due to a major project to expand the mobile communications infrastructure in India and successes in the data center growth initiative thanks to investments in artificial intelligence (AI). The subsegments communication equipment manufacturers components and fixed access network also generated higher orders compared to 2023 – despite weak global demand in the communications market, which continued through 2024.
Transportation segment sees decline due to weak demand in the automotive market
Following the good prior-year result, the Transportation segment posted lower order intake and net sales due to the development of the automotive subsegment. The sluggish demand for commercial electric vehicles (EVs) was reflected in the respective growth initiative, while progress in the ADAS (advanced driver assistance system) business was slower than expected. In contrast, the larger railway subsegment developed positively, closing 2024 with a slight increase in orders and sales. In this market, HUBER+SUHNER saw good demand in the rail communications growth initiative.
Guidance for 2024 confirmed
Having achieved organic sales growth for 2024 at Group level as anticipated, HUBER+SUHNER continues to confirm its guidance of 9.0–10.5 % for the operating profit margin for the full year.
As part of the publication of the Annual Report, the detailed financial results will be presented at the media and analysts’ conference on 11 March 2025.
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