Phoenix Mecano adjusts guidance

Ad hoc announcement pursuant to Art. 53 LR

Phoenix Mecano now assumes a profit increase of around 10 percent before special items. Including special items, the Group expects to achieve clear double-digit profit growth.

Stein am Rhein/Kloten, December 20, 2023. The marked slowdown in the industrial economy in recent months means that Phoenix Mecano may fall just short of the targeted double-digit increase in operating profit before special items in the 2023 financial year. Phoenix Mecano therefore adjusts its guidance and now assumes a profit increase of around 10 percent.

Phoenix Mecano is expected to close the 2023 financial year with another record result. Including special items, the Group will therefore achieve clear double-digit profit growth.

The positive trend in the turnaround of the DewertOkin Technology Group division is continuing and, thanks to continued strong cash flow generation, Phoenix Mecano expects to start the new year with a net cash position.

On February 15, 2024, Phoenix Mecano will announce details of the preliminary results for the 2023 financial year. The results for the 2023 financial year and the 2023 Annual Report will be published on April 23, 2024.

For more information, please contact:
Phoenix Mecano Management
Dr Rochus Kobler, CEO
Lindenstrasse 23, CH-8302 Kloten
Tel. +41 (0)43 255 4 255
info@phoenix-mecano.com
www.phoenix-mecano.com

About Phoenix Mecano
The Phoenix Mecano Group is a global player in the enclosures and industrial components segments and is a leader in many markets. Headquartered in Stein am Rhein, Switzerland, the Group employs around 7,000 people worldwide and generated sales of EUR 793 million in 2022. It is geared towards the manufacture of niche products and system solutions for customers in the mechanical engineering, measurement and control technology, medical technology, aerospace technology, alternative energy, and home and hospital care sectors. Phoenix Mecano was founded in 1975 and has been listed on the Swiss stock exchange since 1988.