DIHAG looks ahead optimistically after turnaround on METEC 2023

(Düsseldorf, Germany) With durable, reliable products at a high level of quality and efficiency, the group of companies has developed in recent years into a leading manufacturer of castings for industrial products, shipping, railroads, agriculture, wind turbines and other renewable energies in Europe with growing system relevance. At METEC 2023, it will once again demonstrate this with production examples from all plants and innovations, such as ultra-high-wear castings with ceramic inserts or load-hardening of rolls, and will present itself for the first time as the DIHAG Foundry Group under one roof.

The positive annual result for 2022, which was achieved despite the current crises, has given it a boost. This was linked to the early completion of the Group's restructuring, originally planned to last until 2023, in accordance with IDW S6, certified by the auditing and consulting firm PricewaterhouseCoopers (PwC). They had accompanied the restructuring process since 2020. Accelerating factors included a change in shareholders in 2020, the faster recapitalization of the Group and the raising of equity capital in excess of 50 percent and a doubling of operating profit before depreciation and amortization (EBITDA) twice. The turnaround thus achieved and the growth prog-nosis are based on a close interplay of improved payment, return and competitiveness. Based on a consistently positive business development in the turnaround process and adequate liquidity at all times, PwC concludes that the turnaround of the DIHAG Group has been successfully completed: www.dihag.com