Annual press conference - Review 2024

Annual press conference - Review 2024  

08-05-2025 | Press

Der Firmensitz von NORDWEST in Dortmund

NORDWEST closes the 2024 financial year with satisfactory results

Dortmund, 08/05/2025 – The NORDWEST Group closed out the 2024 financial year with business volume of 4,645.1 million euros, 3.3% below the amount reported the previous year. In view of the challenging economic conditions, the trade association is satisfied with the 2024 financial year, particularly given that it matched its best-ever result in the warehouse business from the previous year. The number of specialist trade partners rose year-on-year to reach 1,252 as of 31 December 2024. NORDWEST is also convinced that it is currently setting the course for future growth with its investment in the new logistics centre in Alsfeld, among other measures. 

For the 2024 financial year, the NORDWEST Group reported earnings after taxes of 11.4 million euros. This is 9.0% below the level in 2023. The earnings before the financial result and taxes (EBIT) amounted to 16.4 million euros, 12.9% less than the previous year. 

The German economy took longer to recover from its recent challenges than expected. NORDWEST, too, is not immune from this overall economic situation, states Management Board member Michael Rolf: "The development of NORDWEST's individual divisions is closely linked to economic development, particularly in construction-related segments as well as industry. These underlying conditions were a major influencing factor on the development of the business volume. As such, the construction industry had a direct, negative influence on business volumes in the Construction and Steel divisions as well as indirectly on TeamFaktor, Building Services and Trade/Industry. Yet, the development by business types once again showed, in particular, that the attractiveness of the NORDWEST central warehouse offers numerous benefits for specialist trade partners in difficult times." 

Management Board member Thorsten Sega summarised the result as follows: "The results that we achieved show that we did a lot right before and during the crisis. Despite the declines mentioned, NORDWEST was able to celebrate success at many levels in the 2024 financial year. We were able to record a very good business volume of 4.6 billion euros. Stock turnover remained at the at the previous year's level of 246 million euros and we stabilised the result (EBIT) at a high level of 16.4 million euros in 2024." 

Management Board member Jörg Simon adds: “These successes in the 2024 financial year were made possible by the exceptional performance of the NORDWEST workforce together with the specialist trade partners and suppliers, all of whom once again showed that the early identification of developments and quick action are essential for current and future success.”

The development of the business volume by division was as follows: 

Steel 

While the performance of the Steel division declined once again in the past year, this was split into two distinct halves. The first half of the year was clearly negative due to the drop in demand as a result of the weak development in the construction industry. But, particularly in the second half, positive momentum was able to be established and the business volume increased by 4.4% compared to the comparison period. Overall, the Steel division's business volume of 1,509.4 million euros marked a decline of 10.8% from the previous year. 

Construction-Trade-Industry

In the 2024 financial year, the Construction-Trade-Industry division was able to slightly improve on the result recorded the previous year with business volume of 1,501.8 million euros, an increase of 1.7%. Even given the current general conditions, the NORDWEST central warehouse was able to once again improve on its best-ever result from the previous year by 0.5% to 224 million euros. And the settlement volume in the central payment business also posted a further gain of 1.8%. 

The Trade/Industry division developed positively overall across all businesses in the reporting period. The business volume totalled 1,057.6 million euros, 4.1% above the level posted the previous year. In the central payment and drop shipment business, the result of 860.6 million euros represented a year-on-year improvement of 5.2% and the warehouse also continued to be well-utilised, posting a slight decline of just 0.4% from the previous year. 

The Construction division reported business volume of 444.2 million euros, a 3.5% decline from the result posted in 2023. The reason for this was the continued strained economic situation in the construction sector and the associated sharp drop in demand across the entire construction industry. The development in the warehouse business remained positive. Here, the Construction division posted a strong gain of 7.9% compared to the previous year in spite of the difficult general conditions. Central payment in the Construction division declined by -4.4%. 

Building Services 

In the Building Services division, the weak economic situation also led to a decline in volume. It recorded a result of 287.9 million euros, a decline of 7.8%. Yet, the development in the Buildings Services division diverged markedly in the relevant product areas. Due to external factors, the market in the Heating segment was effectively brought to a standstill in 2024. By contrast, the Sanitary segment was able to improve on its result from the previous year despite the strained situation in the construction industry in 2024 and the associated decline in the building project business. 

TeamFaktor/Services 

The TeamFaktor/Services division improved by 1.9% year-on-year, recording a business volume of 1,346.1 million euros. This growth is particularly based on the growth in volume in the area of small and medium-sized enterprises (SME) as well as on the expansion of the customer base. The decline in volume amongst existing customers (particularly in the steel sector) prevented a stronger rise. 

Increase in equity for investments

Due to the upcoming investments and the need to migrate the existing SAP system landscape to SAP S/4 HANA in the medium-term as well as at a strategic level with the reconfiguration of NORDWEST's logistics at the new location in Alsfeld, NORDWEST has turned its focus to strengthening equity over the last three years. This will establish a solid foundation for the growth plans and investments. As a result, the equity ratio remained virtually unchanged at 30.4% (previous year: 30.2%). The NORDWEST Group's equity is in excess of 115 million euros.

The performance of the NORDWEST share

The price of the NORDWEST share closed at 20.20 euros on 31/12/2024, a decline of 10.6% from the reporting date last year (31/12/2023: 22.60 euros). The price fluctuated between a low of 20.00 (23/12/2024) and its high of 23.00 (24/05/2024). The NORDWEST Management Board and the Supervisory Board propose a dividend distribution of 1.00 euro per share (unchanged from the previous year) to the Annual General Meeting.nsam genauso wie im Vorjahr eine Dividendenausschüttung von 1,00 Euro je Aktie vor.

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