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Investing.com -- Vorwerk Group SE (ETR:VH2) on Wednesday raised its full-year guidance after reporting strong first-half results that exceeded market expectations.
The company’s revenue grew 56% year-over-year in the first six months, while EBITDA more than doubled, reaching a margin of 18.0%, an improvement of 500 basis points compared to the same period last year.
For the second quarter specifically, Vorwerk posted revenue of €170 million, representing a 45% increase year-over-year and a 28% rise quarter-over-quarter.
EBITDA for the quarter reached €36 million, up 105% from the previous year, with margins expanding to 21.4% from 15.1% a year earlier.
The company’s performance was supported by continued hiring momentum, with staff numbers increasing 8% compared to last year, and a high-quality order backlog of €1.1 billion.
While order intake declined to €220 million from €408 million in the first half of 2024, total project volume including joint venture shares rose 42% to €613 million.
Vorwerk has now updated its fiscal year 2025 guidance, projecting revenue between €610-650 million, up from the previous forecast of €540-570 million.
The company also raised its EBITDA margin guidance to 17.5-18.5%, compared to the earlier projection of 16-17%.
The new guidance implies an EBITDA of approximately €113 million at the mid-point, which is 14% above current consensus forecasts.
Despite the significant growth, Vorwerk’s net cash position improved by nearly €100 million, reaching €84 million as of June 30.
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