- Group revenue at € 115.3 million (previous year: € 132.5 million)
- EBIT margin at 3.5 % (previous year: 4.5 %) with an EBIT of € 4.0 million (previous year: € 5.9 million)
- EBIT margin adjusted for one-off expenses (€ 0.8 million) at 4.2 %
- Noticeable catch-up effect: EBIT margin of 6.2 % in Q2
- Energy Management achieves revenue growth of 26 % and expands prospects with major series orders
- Board of Management confirms guidance for 2024 and 2025
Sassenberg, August 14, 2024 – technotrans increased its performance as expected despite a persistently difficult economic environment and remains on track for the full year 2024. This is proven by a significantly higher EBIT margin of 6.2 % in Q2 2024 compared with Q1 (0.7 %). Group revenue amounted to € 115.3 million in the first half of the financial year (previous year: € 132.5 million). Consolidated EBIT reached € 4.0 million (previous year: € 5.9 million). This results in an EBIT margin of 3.5 % (previous year: 4.5 %). EBIT includes one-off expenses of € 0.8 million for the efficiency program. Without these expenses, an EBIT margin of 4.2 % would have been achieved. The return on capital employed (ROCE) amounted to 11.5 % (previous year: 12.4 %). The efficiency program was implemented as planned. technotrans ended the second quarter with a solid order backlog of € 84 million. On this basis, the Board of Management expects increasing revenue and earnings momentum in the second half of 2024. The guidance of achieving revenue between € 245 and 270 million with an EBIT margin of 5.5 % to 7.5 % in the 2024 financial year is confirmed. The mid-term targets for the 2025 financial year also remain valid.
“technotrans significantly increased its profitability in the second quarter of 2024 despite the weak economy. We therefore remain on track in the first half of the year in terms of our revenue and earnings expectations. This reflects the positive effects of the ttSprint efficiency program, which we are systematically driving forward,” says Michael Finger, CEO of technotrans SE. “In addition, significant new orders acquired this year underline the promising outlook for technotrans”.
Significant increase in profitability in Q2 2024
The technotrans Group generated revenue of € 115.3 million in the first half of 2024 (previous year: € 132.5 million). The main reason for the year-on-year decline of 12.9 % is the reluctance of customers to invest in the majority of focus markets due to the weak economy. The focus market Energy Management developed independently of the economic environment and achieved strong revenue growth of 26 % compared to the previous year, partly due to the high demand for thermal management systems for rail vehicles and e-mobility charging infrastructure.
The Group’s EBIT reached € 4.0 million (previous year: € 5.9 million). The EBIT margin amounted to 3.5 % (previous year: 4.5 %). At 6.2 %, profitability in Q2 2024 was significantly higher than the previous year’s figure of 3.7 %. Main reason is the earnings contributions from the service business. EBIT includes one-off expenses of € 0.8 million for the efficiency program. Without these expenses, an EBIT margin of 4.2 % would have been achieved. The return on capital employed (ROCE) amounted to 11.5 % (previous year: 12.4 %).
New major orders for e-buses and data centers
technotrans further expanded its market position in the field of energy management. In April, an initial order was concluded for the newly developed liquid cooling system for existing data centers. Significant progress was also made with battery cooling systems for e-buses. The major order from a well-known European electric bus manufacturer for the series production of battery thermal management systems (BTMS) published in May represents an important milestone in the company’s market positioning in Europe.
In the Print segment, reports from the major printing press manufacturers about significant incoming orders at the leading trade fair drupa underline the expectation of an upturn in revenue in the second half of 2024.
Efficiency program as comprehensive Group transformation
The ttSprint program launched at the beginning of the year to increase the efficiency and profitability of the technotrans Group is proceeding according to plan. All milestones defined for the first half of 2024 have been achieved. These include in particular the organizational realignment to a market-oriented target structure for the Group. The transformation to the new structure will be completed on schedule in the second half of 2024.
Board of Management confirms guidance
The strong Q2, significant sales successes, the solid order situation and the progress made in implementing the efficiency program reinforce the expectation that business will pick up in the second half of 2024.
The Board of Management therefore confirms the forecast of achieving Group revenue between € 245 million and € 270 million with an EBIT margin of 5.5 % to 7.5 % and a ROCE of between 14.0 % and 16.0 % in the 2024 financial year. Expenses from the efficiency program are included in this figure.
The mid-term targets of achieving revenue between € 265 million and € 285 million with an EBIT margin of 9.0 % to 12.0 % and a ROCE of over 15 % in the 2025 financial year remain unchanged. This does not include M&A transactions.
“We are countering the weak economy with a sound business model, a clear strategy, financial stability and a highly motivated team. With our ttSprint efficiency program, we are also sustainably reducing our structural costs. This will enable us to achieve our targets for 2024 and 2025 even under difficult economic conditions,” emphasizes Michael Finger.
Further information at: www.technotrans.com
About technotrans SE:
| technotrans SE is a technology and services group with worldwide operations. The company’s core skill focuses on application-specific solutions in the area of thermal management. As an integral aspect of customer systems, these solutions optimise energy consumption and govern the temperatures encountered in sophisticated technological applications. With 17 locations, the Group has a presence in all major markets worldwide. Based on the Future Ready 2025 strategy, technotrans has defined the 5 focus markets Plastics, Energy Management (including electric mobility, high power charging stations and data centers), Healthcare & Analytics, Print and Laser. In addition, technotrans offers its customers an extensive portfolio of services including installation, refurbishment, maintenance, repair, a 24/7 parts supply and technical documentation. The Group has 6 manufacturing locations in Germany, one in China and one in the United States. technotrans SE is listed in the Prime Standard (ISIN: DE000A0XYGA7 / WKN: A0XYGA) and employs around 1,500 people worldwide. The Group reported revenue of € 262.1 million for the 2023 financial year. |