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KATEK SE EQS-News: KATEK SE: Mission accomplished - KATEK continues to grow strongly in 2023, realizes strongest year in the company's history in terms of earnings and cash flow and meets all forecasts

Directive transparence : information réglementée

15/02/2024 18:09

EQS-News: KATEK SE / Key word(s): Preliminary Results
KATEK SE: Mission accomplished - KATEK continues to grow strongly in 2023, realizes strongest year in the company's history in terms of earnings and cash flow and meets all forecasts

15.02.2024 / 18:09 CET/CEST
The issuer is solely responsible for the content of this announcement.


Mission accomplished - KATEK continues to grow strongly in 2023, realizes strongest year in the company's history in terms of earnings and cash flow and meets all forecasts

  • Revenue increased by around 15% compared to the previous year to EUR 784 million
  • Reported EBITDA increased by over 80% to over EUR 41.5 million
  • Consistent working capital management with organic reduction in inventories of more than EUR 50 million compared to the previous year with a corresponding positive effect on operating cash flow

Munich, February 15, 2024 - According to preliminary figures, KATEK SE continued its strong growth in the 2023 financial year and achieved a new record result. With revenue growth of around 15% to EUR 784 million and an increase in reported EBITDA of more than 80% to over EUR 41.5 million, KATEK has consolidated its position in the market and impressively realized the turnaround in earnings and cash flow.

The significant improvement in gross margins in the second half of 2023 underlines the effectiveness of the strategic measures. The operating result (EBITDA adj.) is within the forecast guidance, which demonstrates the successful implementation of the corporate strategy and the ability to adapt in a dynamic market environment.

KATEK generated a strong operating cash flow through consistent working capital management. The organic reduction in inventories by over EUR 50 million at the end of 2023 compared to the beginning of the year - more than EUR 60 million compared to the peak of the supply chain crisis - demonstrates the company's strong performance and simultaneous growth.

Particularly noteworthy is the strong revenue growth in the solar segment of over 32% to more than EUR 120 million, which confirms KATEK as the leading supplier in this segment. In addition, all preparations have been made to convert the impressively high orders from 2023 for the ghostONE Wallbox into revenue, which underlines KATEK's ability to deliver innovative products within a very short timeframe.

All figures mentioned are subject to the proviso that the annual audit has not yet been completed.

KATEK and Kontron: Strong together for the future

Thanks to the strategic partnership with Kontron AG, a leading company in the field of Internet-of-Things (IoT), KATEK is excellently positioned to continue its strong growth and exploit its full potential in a united group of companies. Following the acquisition of around 59.4 percent of KATEK shares by Kontron AG (subject to conditions precedent under antitrust law), KATEK continues its success story with the new majority shareholder Kontron AG. The focus on key industries such as eMobility and renewable energies, coupled with an impressive international expansion and the development into a key driver of the electronics industry in Europe, especially in the GreenTec sector, forms the basis of this synergy. The connection with Kontron opens new growth opportunities for KATEK through the integration of high-quality electronic systems and products, including software, in promising markets.

Contact

KATEK Investor Relations
Ramona Kasper
Group Head Marketing & Communications
ir@katek-group.com
+ 49 160 970 88 676

About KATEK

KATEK Group, headquartered in Munich, is one of the fastest growing electronics companies in Europe and aims to make a decisive contribution to the "electronification of the world". KATEK is an end-to-end service provider for high-value electronics. The range of services covers the entire product life cycle. From the development of software and hardware, through rapid prototyping of electronic assemblies and production, to subsequent support of the process at the customer's premises, including logistics, after-sales and service activities.

3,700 employees at locations in Germany, Eastern Europe, North America and Asia produce the megatrends of the future. With its local-to-local approach, KATEK ensures proximity to the customer and at the same time paves the way to the global market. Market leaders from the fastest-growing industries - from electromobility to renewable energies to medical technology - rely on this strategy.

CEO & Co-Founder is Rainer Koppitz and CFO is Dr. Johannes Fues. For more information about KATEK, please visit https://katek-group.com.

Statements contained herein may constitute ”forward-looking statements“. Forward-looking statements are identified by words such as ”may“, ”will“, ”should“, ”plans“, ”expects“, ”anticipates“, ”estimates“, ”believes“, ”intends“, ”has in mind“, ”targets“ or their negative form or equivalent variations and comparable terminology.

Forward-looking statements are based on current expectations and involve a number of known and unknown risks, uncertainties and other factors that may cause the actual results, levels of utilization, performance or achievements of the Group or the industries in which it operates to be materially different from those expressed or implied by such statements. Undue reliance should not be placed on forward-looking statements. The Group will not update or revise any forward-looking statements contained herein as a result of new information, future events or otherwise.



15.02.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: KATEK SE
Promenadeplatz 12
80333 München
Germany
Internet: www.katek-group.com
ISIN: DE000A2TSQH7
WKN: A2TSQH
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1838505

 
End of News EQS News Service

1838505  15.02.2024 CET/CEST

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