According to the Zhitong Finance App, Rexroth International (02222) announced the results for the year ended December 31, 2023. The group recorded revenue of US$236 million, a year-on-year decrease of 15.6%. Profit attributable to shareholders was US$357.13 million, turning a year-on-year loss into a profit. Earnings per share were 7.79 US cents.
The report shows that as the economic environment continues to be sluggish, the overall demand in the consumer market has declined, and the competitive pressure on the terminal market has further expanded. It is particularly important to reduce product costs and thus increase the competitiveness of the Group's products. The Group adjusts its procurement strategy, uses annual bargaining, large order bargaining, monitoring the trend of bulk raw materials and the correlation between the pricing of purchased materials, and promoting technological reforms to ensure a reduction in procurement costs.
The international lighting business remained the Group's core business during the reporting year, contributing most of the Group's revenue. Despite the difficult economic environment, in order to maintain the healthy development of the Group's business, the Group implemented a number of reforms, including developing new product designs, launching new products, and evaluating the Group's procurement strategies, which helped enhance the competitiveness of the Group's products in terms of price and functionality.