BERGISCH-GLADBACH (dpa-AFX) - In the first three months of the year, the investment company Indus Holding has posted significantly lower sales and earnings due to the difficult economic environment. Sales fell by around nine percent to 410 million euros due to customers' reluctance to buy and invest against the backdrop of the weakening economy, the company, which is listed in the second-line stock index SDax, announced in Bergisch-Gladbach on Tuesday. The company's earnings before interest and taxes (EBIT) fell by 40 percent to just under 27 million euros in the first quarter. At the bottom line, Indus earned around 10 million euros, 36 percent less than a year ago.

"As we had planned, the difficult overall economic conditions are reflected in the development of our Group at the beginning of the year," said Group CEO Johannes Schmidt. "We had already taken these economic challenges into account in our planning. We are therefore sticking to our forecast for the year as a whole."

For the 2024 financial year, Indus expects turnover to remain between 1.85 and 1.95 billion euros and an operating result (EBIT) of 145 to 165 million euros. In 2023, the company generated turnover of 1.8 billion euros and earned an operating profit of just under 150 million euros./zb/jha/