Zumtobel prelim. Q2 22/23 - Strong prelim. Q2 results fuel FY guidance upgrade
Revenue growth of 13% to EUR 314 mn spurred by pricing and FX effectsAcceleration of Lighting sales growth as main driver
Margin expansion to 10.1% in Q2 looks convincing, EBIT of ca EUR 51 mn already pocketed in H1
FY 22/23 top line growth outlook raised to 4-8% from 3-6%
EBIT margin target up to 4-6% from 4-5%
The strong results and the guidance upgrade are supportive for our positive stance on the investment case
Zumtobel is a lighting company based in Austria. Co. offers a full-line range of integral professional lighting solutions, luminaires, light management systems and lighting components for indoor and outdoor applications. Co.'s business activities are carried out primarily through its subsidiary groups: the Lighting Segment (lighting solutions, interior and exterior lighting, electronic-digital lighting and room management systems) and the Components Segment (electronic and magnetic lighting components).
The Institutional Equity Research team of Raiffeisen Bank International AG covers 85 stocks from Austria, Central & Eastern Europe with sell-side research and thus levers our local broker status with excellent company relationships. For corporates in Austria, CEE and Western Europe, we offer co-sponsored research, which includes research coverage and marketing activities to investors. Additionally, through our Spotlight Research product we also shed light on leading European small and micro-caps, seeking greater visibility with investors.
The Institutional Equity Research team consists of roughly 15 analysts, both in Vienna and the CEE countries. Our analysts provide long-standing sector expertise in tandem with profound local market know how and a sectoral approach across the entire region.
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