Ascom Reports Half-Year Results for 2024
A Mixed Picture Emerges
Ascom has announced its financial results for the first half of 2024, presenting a mixed picture. Despite an impressive revenue increase, increased depreciation costs have impacted profitability.
Revenue Growth at Constant Currencies
The company's revenue increased by 27% at constant currencies, demonstrating strong underlying growth in its business. However, the overall revenue decrease of 54% is attributed to currency fluctuations.
Depreciation Costs Impact Earnings
Increased depreciation expenses have significantly affected Ascom's profitability. Earnings before interest and taxes (EBIT) fell from CHF 61 million in the first half of 2023 to CHF 40 million in the same period this year.
Group Profit Declines
As a result of these factors, Ascom's Group profit for the first half of 2024 declined to CHF 29 million, compared to CHF 29 million in the same period last year.
The company's financial performance underscores the challenges and opportunities it faces in the current economic climate. Ascom's ability to adapt to market conditions, manage costs effectively, and capitalize on growth opportunities will be key to its success in the coming months.
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