Webdisclosure.com

Search

KATEK SE EQS-News: Successful business development: KATEK continues to grow strongly in 2023, realizes strongest year in the company's history in terms of operating result (EBITDA) and meets all forecasts

Directive transparence : information réglementée

15/04/2024 10:39

EQS-News: KATEK SE / Key word(s): Preliminary Results/Annual Results
Successful business development: KATEK continues to grow strongly in 2023, realizes strongest year in the company's history in terms of operating result (EBITDA) and meets all forecasts

15.04.2024 / 10:39 CET/CEST
The issuer is solely responsible for the content of this announcement.


Successful business development: KATEK continues to grow strongly in 2023, realizes strongest year in the company's history in terms of operating result (EBITDA) and meets all forecasts

  • Group sales increased by around 15% compared to the previous year to EUR 782.8 million
  • Reported EBITDA increased by over 80% to over EUR 41.9 million
  • Consistent working capital management with organic reduction in inventories leads to corresponding positive effect
  • Publication of annual report rescheduled in the context of the Kontron transaction
  • Cautious outlook in 2024 due to economic environment factors, but still on course for growth

Munich, April 15, 2024 - KATEK SE publishes preliminary figures for the successfully completed financial year 2023. The publication of the final, audited figures is planned for April 30, 2024. According to preliminary figures, the company continued its strong growth in the 2023 financial year and achieved a new record result. With sales growth of around 15% to EUR 782.8 million and an increase in reported EBITDA of more than 80% to over EUR 41.9 million, KATEK has expanded its position in the market and impressively realized the turnaround in earnings.

The significant improvement in the gross margin in the second half of 2023 underlines the effectiveness of the strategic measures. The adjusted 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.

Consistent working capital management led to an organic reduction in inventories of just under 18% with simultaneous growth, demonstrating the company's strong performance in this area.

Particularly noteworthy is the strong sales growth in the solar sector of over 32% in 2023, which confirms KATEK as a leading provider in this area. In addition, all preparations have been made in the Charging division for the expected growth, which underlines KATEK's ability to successfully place innovative products on the market within a very short space of time.

In the first few months of the 2024 financial year, KATEK is aware of economic uncertainties in the business environment. These are indirectly reflected in the changed demand and call-off behavior of customers. On this basis, KATEK's management is currently assuming that growth expectations will be reduced by EUR 15 million. In addition, existing inventories are being reviewed as necessary in connection with the new forecasts; this risk is currently valued at EUR 10 million.

The acquisition of around 59.4% of KATEK shares indirectly by Kontron AG was successfully completed at the end of February 2024. As a result of the change of control and the resulting urgent and diverse tasks and integration of limited capacities in the company, KATEK has recently decided to align the final publication of the business figures with the legal requirements and to update the financial calendar as published. All figures mentioned are subject to the proviso that the audit of the consolidated financial statements has not yet been completed.

KATEK and Kontron: Strong together for the future

Through 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 realize its full potential in a unified group of companies. Following the acquisition of the KATEK shares by Kontron AG, KATEK continues its success story with Kontron. The focus on key industries such as electromobility 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 up new growth opportunities for KATEK in promising markets through the integration of high-quality electronic systems and products, including software.


Contact

KATEK Investor Relations
Barbara Jeitler
ir@katek-group.com
+43 1 80191 1199


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.

3,200 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.

KATEK Group has been part of the Kontron Group since March 2024. CEO is Hannes Niederhauser 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.



15.04.2024 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.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


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: 1880475

 
End of News EQS News Service

1880475  15.04.2024 CET/CEST

fncls.ssp?fn=show_t_gif&application_id=1880475&application_name=news&site_id=symex~~~af100301-a623-4c64-8f3d-90fc88eca9e6