SCHRAMBERG, Germany - hGears AG faced a challenging 2024 fiscal year as declining demand and high inventory levels weighed on revenue and earnings. Despite the negative effects of 2024's economic slowdown and excess inventory struggles, hGears AG remains confident that its new cost and structural measures are having a positive effect.
SCHAMBERG, Germany - High-precision transmission parts and components manufacturer hGears AG continues to suffer not only from the automotive crisis, but also from the e-bike business segment's sluggish destocking. In the first nine months of the current 2024 financial year, it had to digest its biggest sales drop.
SCHRAMBERG, Germany - When presenting its 2024 half-year figures, the high-precision gearbox parts and components manufacturer hGears AG took a cautious view of the financial year. Looking further ahead, the stock-listed company sees strong growth again in the medium term 'particularly in the e-bike and e-mobility business areas'.
SCHRAMBERG, Germany - hGears AG, the European precision e-bike transmission parts and components manufacturer, reports a 16.9% year-on-year decrease of its 2023 consolidated revenue of € 112.5 million. hGears faced an extremely challenging years in its e-bike business.
SCHRAMBERG, Germany - German precision gear and component manufacturer hGears AG reports a consolidated revenue of €84.1 million from January until October, a year-on-year decline of 18.8%. This decline is attributable to market difficulties for the e-mobility as well as the e-tools division.
SCHRAMBERG, Germany - In the first half of 2023, precision gear and component manufacturer hGears AG posted total sales of €57.16 million, a year-on-year decline of 19.4%. This is the result of flat sales in its e-mobility and e-tools business units.
