- Consolidated revenue up 7.2 % to € 56.7 million in 1st quarter
- EBIT grows by 8.4 % to € 3.1 million
- EBIT margin rises to 5.5 % (previous year: 5.4 %)
- Order backlog reaches new all-time high of € 85 million
- Board of Management confirms forecast for 2022 and medium-term targets for 2025
The technotrans Group has made a positive start to the 2022 financial year despite increased challenges. Consolidated revenue reached € 56.7 million in the first quarter, up 7.2 % on the previous year. The consolidated operating result (EBIT) rose by 8.4 % to € 3.1 million with an EBIT margin of 5.5 % (previous year: 5.4 %). The ROCE of 11.7 % was significantly above the previous year's value of 9.1 %. Both reporting segments Technology and Services contributed to the positive development. The strategic focus markets Plastics, Energy Management, Healthcare & Analytics and Print, as well as the selectively processed high-end laser segment, recorded a pleasingly high level of demand. The order book reached a new all-time high of € 85 million on 31 March 2022. The book-to-bill ratio, which rose to 1.3, underlines the growth perspective. Under the given general conditions, the Executive Board is very satisfied with the business development in the first three months and confirms the forecast of achieving a consolidated turnover of between € 220 and 230 million with an EBIT margin of between 5.0 and 6.0 % for the 2022 financial year. The medium-term forecast for 2025 also remains unchanged.
"The importance of precise and energy-efficient thermal management in industrial processes is steadily increasing. This is reflected in the high demand for our solutions in all relevant markets and the excellent order situation. We are very satisfied with the course of business in the first 3 months of the 2022 financial year," says Michael Finger, Spokesman of the Board of Management of technotrans SE.
Revenue and earnings increased
The technotrans Group generated consolidated revenue of € 56.7 million in the 1st quarter of the 2022 financial year, which was 7.2 % up on the previous year. The consolidated operating result (EBIT) improved by 8.4 % to € 3.1 million. The EBIT margin increased to 5.5 % (previous year 5.4 %). The return on capital employed (ROCE) increased significantly from 9.1% to 11.7%. The profit for the period of € 2.0 million exceeded the previous year by 6.9 %. Accordingly, the earnings per share generated in the 1st quarter rose to € 0.29 (previous year: € 0.27). The asset and financial situation remains orderly with an increase in working capital due to the supply chain.
Both reporting segments made a positive contribution to the profitable growth in the first quarter. The Technology segment achieved a revenue increase of 8.7 % with an increased EBIT margin of 2.3 % (previous year: 2.1 %). The Services segment's revenue rose by 3.1 % to € 14.3 million, with an almost constant EBIT margin of 14.8 % (previous year: 14.9 %).
Stable demand in all relevant markets
The continuing stable demand for technotrans systems and services extended to all relevant markets. In the first quarter, technotrans succeeded in acquiring no fewer than 2 major flagship projects: In the focus market of plastics, technotrans is designing and manufacturing the temperature control system for the first plastics recycling plant in Europe for the Israeli cleantech company UBQ Materials. technotrans is also making its debut in Norway: As the exclusive partner for the market launch in Europe, technotrans is supplying the cooling technology for the first power swap station of the Chinese car manufacturer NIO. Further systems are to follow before the end of the year. In the focus market of Healthcare & Analytics, technotrans extended its solutions expertise and started to set up a clean-room production facility in Baden-Baden. The clinical tests of the newly developed solutions for cooling heads and body parts are proceeding according to plan and the first series sales are expected towards the end of 2022. A strong increase in sales was seen in the focus market print due to a return of willingness to invest. In the selectively considered Laser & Machine Tools market, the strategic focus on selected EUV and high-tech laser applications was also confirmed by the increased sales volume.
Strategy Future Ready 2025 is being consistently implemented
The Future Ready 2025 strategy was again systematically implemented in the first quarter of the 2022 financial year. technotrans reached an important strategic milestone with the legal completion of the merger of the group companies Reisner and technotrans solutions. The group company termotek was renamed technotrans systems as a further building block on the way to a common umbrella brand.
Sustainability is being driven forward
technotrans has initiated a group-wide switch to paperless technical documentation. The easybrowse software developed by the group company gds is being used for this purpose. At the Sassenberg plant alone, this will save up to 1.3 million sheets of paper a year. A photovoltaic system was installed at the Baden-Baden site. This covers about 40 % of the electricity demand and is to be put into operation in the second quarter.
Outlook
Based on the positive performance in the first quarter of 2022 and the strong order book, the Board of Management expects the technotrans Group to continue its stable development.
The Board of Management reaffirms its expectation of achieving consolidated revenue of between € 220 and 230 million in the 2022 financial year, with an EBIT margin in a range between 5.0 and 6.0 % and ROCE of between 12.5 and 14.0 %. The forecast is subject to the proviso that the current challenges of the economic environment do not worsen.
economic environment do not worsen. The medium-term forecast for 2025 remains unchanged.
"Despite the increased challenges, technotrans has made a strong start to the 2022 financial year. On the basis of the very good order situation and the strategically optimised positioning of the group, we will systematically continue on our profitable growth path," says Michael Finger.
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