Wintersteiger returns to profit, plans spin-off of its divisions into independent entities

Wintersteiger, the Austrian supplier of ski rental and ski service systems, reports a return to growth and profit in 2021. After a pre-tax loss (Ebt) in 2020 of just under €10 million and a 26 percent drop in sales, the group was back on track for growth in 2021, reporting consolidated sales of €168 million and a pre-tax profit of €6 million. “It is important to emphasize that our cash flow, as well as our Ebitda, were always positive, even during the crisis,” said CFO Harold Kostka. CEO Dr. Florestan von Boxberg is convinced that, despite the current procurement crisis, Wintersteiger will finally overcome the Covid-19 crisis in the current year and exceed the €200 million sales mark for the first time.

Particularly affected by the pandemic were the ski rental customers of Wintersteiger’s Sports Division. Sales in this previously dominant segment slumped by 30 percent in 2020. In 2021, it rebounded by 23 percent, but was still well below the pre-crisis level. An increase compared to 2019 is not expected until 2022.

During the pandemic, Wintersteiger used the opportunity for company acquisitions. In 2021, the company took over its general importer for Norway and Sweden. At the beginning of 2022, a majority stake was acquired in a mechanical engineering company near Stuttgart for the Wood Division and a minority stake was acquired in an IT company from Vienna. The Seedmech and Woodtech Divisions grew last year to €44 million (+38 percent) and €39 million (+18 percent), respectively.

The 2020 result was impacted by restructuring costs in the Metals Division, which was able to become the relatively most profitable of the company’s four divisions in 2021 thanks to a realignment and repositioning among the electromobility suppliers and a significant internationalization.

For 2022, Wintersteiger wants to reach a size that allows more independence with sales of around €50 million per division. With this in mind, the management board has announced the spin-off of the four divisions into independent companies, a production and supply chain division and the establishment of a strategic holding company as a major project for the ongoing year.

Wintersteiger AG results 2021: