Trajan Group Holdings reports movement from profit to loss in FY24

Trajan Group Holdings Limited (ASX: $TRJ) has reported a movement from profit to loss during the half-year ended 31 December 2023. The company's revenue for the period was $76.4M, down by 4.6% from the previous corresponding period, resulting in a normalised EBITDA of $4.0M. The Group's net assets as at 31 December 2023 were $125.3M, with a net debt position of $36.7M and a consistent gearing ratio of 29.3%.

Chairman and CEO optimistic about future growth

John Eales, Chairman, and S.A.Tom Stephen Tomisich, Managing Director and CEO, expressed optimism about the company's future growth prospects. They highlighted the impact of industry-wide challenges, such as industry destocking, which affected the company's components and consumables segment due to delayed customer orders and higher inventory levels. Despite the challenges, they remain confident in delivering the 13th year of consecutive growth with a return to double digit revenue growth in the second half of FY24.

Outlook for FY24 and beyond

Trajan Group Holdings remains focused on executing its growth strategy and anticipates a return to double digit revenue growth in the second half of FY24. The company aims to facilitate the expansion of EBITDA Margin to 20% by FY25. Despite the challenges faced in the first half of FY24, the company sees no fundamental change to the underlying strength of the business, its products and technologies, customer needs, or market position. Trajan is optimistic about the progressive improvement in performance throughout FY24 and is maintaining its focus on positively impacting human health.