OTS - DIHAG looks ahead optimistically after turnaround on METEC 2023
2023. June 12. 14:37
Düsseldorf, 12 June, 2023 (APA/OTS) - With product innovations,
DIHAG Holding GmbH from Coswig in Saxony is putting solutions for
the transformation of the economy to climate neutrality at the
center of its presence at this year's METEC, the world's leading
trade fair for metallurgy and smelting technology in Düssel-dorf.
With durable, reliable products at a high level of quality and
efficiency, the group of companies has developed in recent years
into a leading manufacturer of castings for industrial products,
shipping, railroads, agriculture, wind turbines and other renewable
energies in Europe with gro-wing system relevance. At METEC 2023,
it will once again demonstrate this with production examples from
all plants and innovations, such as ultra-high-wear castings with
ceramic inserts or load-hardening of rolls, and will present itself
for the first time as the DIHAG Foundry Group under one roof.
The positive annual result for 2022, which was achieved despite
the current crises, has given it a boost. This was linked to the
early completion of the Group's restructuring, originally planned
to last until 2023, in accordance with IDW S6, certified by the
auditing and consulting firm Price-waterhouseCoopers (PwC). They
had accompanied the restructuring process since 2020. Accele-rating
factors included a change in shareholders in 2020, the faster
recapitalization of the Group and the raising of equity capital in
excess of 50 percent and a doubling of operating profit befo-re
depreciation and amortization (EBITDA) twice. The turnaround thus
achieved and the growth prog-nosis are based on a close interplay
of improved payment, return and competitiveness. Based on a
consistently positive business development in the turnaround
process and adequate liquidity at all times, PwC concludes that the
turnaround of the DIHAG Group has been success-fully completed:
www.dihag.com
Contact: Giuseppe Grasso; +49 151 28 464 777; grasso@dihag.com
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