M+S Hydraulic’s Jun’24 sales down by 49.6% YoY; Jul’24 management guidance is for 49% YoY drop (NEGATIVE)

23.07.2024 Source: M+S Hydraulic; FFBH

M+S Hydraulic reported Jun’24 sales of BGN 11m (-49.6% YoY), which came 1.3% above management's expectations. Pre-tax earnings for the month fell 80.2% YoY to BGN 0.9m, where the monthly EBT margin was 8.6%. 6-mo sales were BGN 72.4m, down 42.7% YoY, while pre-tax earnings for the period decreased to BGN 7.9m (-66.5% YoY). Management forecasts Jul’24 revenue of BGN 11.4m (-49% YoY), which would result in a 43.6% YoY decline of 7-mo sales to BGN 83.7m.