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14.05.2024 07:00:44 - dpa-AFX: EQS-News: technotrans sets course for profitability and confirms forecasts for 2024 and 2025 (english)
technotrans sets course for profitability and confirms forecasts for 2024
and 2025
EQS-News: technotrans SE / Key word(s): Quarterly / Interim Statement
technotrans sets course for profitability and confirms forecasts for 2024
and 2025
14.05.2024 / 07:00 CET/CEST
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
technotrans sets course for profitability and confirms forecasts for 2024
and 2025
* ttSprint efficiency program progressing according to plan
* Energy Management with 38% revenue increase
Sassenberg, May 14, 2024 - As expected, due to the weak economic environment
the technotrans Group made a muted start into the 2024 financial year. In
the first 3 months, the thermal management specialist generated consolidated
revenue of EUR 56.0 million (previous year: EUR 68.3 million). Consolidated EBIT
amounted to EUR 0.4 million (previous year: EUR 3.5 million). First
restructuring expenses of EUR 0.7 million in connection with the ttSprint
efficiency program were already included in the EBIT. The EBIT margin was
0.7 % (previous year: 5.2 %), the adjusted EBIT margin reached 2.0 %
accordingly. Return on capital employed (ROCE) amounted to 10.3 % (previous
year: 13.0 %). The technotrans Board of Management expects business to pick
up in the second half of 2024. technotrans already paved the way for an
increase in profitability at the start of the year with major orders in key
future technologies and the launch of the ttSprint efficiency program. The
Board of Management confirms the forecast for the current financial year and
continues to expect revenue between EUR 245 and 270 million with an EBIT
margin between 5.5 % and 7.5 %. The mid-term targets for the 2025 financial
year are also confirmed.
"As expected, we were not able to escape the weak economic trend,
particularly in Germany. 2024 is the year of transformation for us. With our
ttSprint efficiency program, we are structurally transforming technotrans
into a market-oriented, lean and powerful company. With our efficiency
program and successes in important future markets, we are setting the course
for higher profitability and expect the first contributions to earnings as
early as this year," says Michael Finger, CEO of technotrans SE.
Weak economy impacts performance in the first quarter
The technotrans Group generated revenue of EUR 56.0 million in the first
quarter of 2024 (previous year: EUR 68.3 million). Reductions and
postponements of larger orders to the second half of 2024 led to a
significant temporary burden. The focus markets accounted for 95 % of Group
revenue. The Energy Management focus market in particular achieved strong
revenue growth of around 38% due to major orders in the field of
electromobility. As expected, EBIT fell to EUR 0.4 million (previous year: EUR
3.5 million) and the EBIT margin to 0.7 % (previous year: 5.2 %). EBIT
includes one-off expenses of EUR 0.7 million related to the ttSprint
efficiency program. The adjusted EBIT margin therefore amounted to 2.0 %.
ROCE amounted to 10.3 % (previous year: 13.0 %).
The revenue and earnings performance in the first quarter of 2024 is
attributable in particular to the persistently weak economic environment in
Germany and the high interest rates. As expected, the lower revenue volume
combined with unfavourable cost degression and initial expenses for the
organizational transformation of the technotrans Group had an impact on
consolidated EBIT and ROCE in the first three months.
Significant major orders generated, product portfolio expanded
Despite the decline in revenues, the course in the first quarter of 2024 was
set for future growth. Of particular note is a follow-up order in the high
single-digit million range for the cooling of battery storage fast-charging
stations from the manufacturer ADS-TEC Energy. Further major orders for
mobile and stationary cooling systems for rail and road transportation are
also currently being implemented.
As part of another major order for liquid-cooling systems for
high-performance servers in the USA, technotrans has developed a new
retrofit solution. This represents a decisive expansion of the product
portfolio: The thermal management specialist now offers cooling solutions
both for the initial equipment of new data centers and for retrofitting
existing data center structures. This enables technotrans to tap into
significant additional growth potential.
Efficiency program as a comprehensive Group transformation
technotrans has launched the ttSprint efficiency program to support the 2024
and 2025 earnings targets. In addition to a stronger customer focus and
greater speed, this program is intended in particular to increase the
company's profitability. The specific measures include a decentralized,
market-oriented organization in line with technotrans' focus markets and a
focus on profitable growth markets and products. Other instruments such as
greater modularization and the reduction of complexity in product
development are intended to help the Group to achieve greater cost
efficiency. The company's cost structure will be adjusted accordingly. The
project is progressing according to plan. The first contributions to
earnings are expected this year. The full effect will be seen in 2025.
Board of Management confirms forecast
In view of the increasing importance of intelligent thermal management for
the global megatrends of decarbonization, digitalization and electrification
as well as the consistent strategic focus, technotrans Board of Management
is confident about the future development of the company despite the
difficult economic conditions. For 2024, it expects revenue between EUR 245
and 270 million with an EBIT margin between 5.5 and 7.5 %. ROCE is
forecasted between 14.0 and 16.0 %. The mid-term targets for the 2025
financial year remain unchanged: revenue between EUR 265 million and EUR 285
million and an EBIT margin between 9.0 and 12.0 %. ROCE is expected to
exceed 15.0 %. M & A transactions are not included in this figure.
"We will consistently implement our Future Ready 2025 strategy with the
ttSprint efficiency program," emphasizes Michael Finger. "This will pave the
way for profitability and make us more resilient to external influences."
Further information at: www.technotrans.com
About technotrans SE:
Note
This press release contains statements on the future development of the
technotrans Group. They reflect the current views of the management of
technotrans SE and are based on corresponding plans, estimates and
expectations. Please note that the statements contain certain risks and
uncertainties that could cause actual results to differ materially from
those anticipated.
---------------------------------------------------------------------------
14.05.2024 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
---------------------------------------------------------------------------
End of News EQS News Service
---------------------------------------------------------------------------
1901943 14.05.2024 CET/CEST
and 2025
EQS-News: technotrans SE / Key word(s): Quarterly / Interim Statement
technotrans sets course for profitability and confirms forecasts for 2024
and 2025
14.05.2024 / 07:00 CET/CEST
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
technotrans sets course for profitability and confirms forecasts for 2024
and 2025
* Decline in revenue in Q1 due to general economic conditions - Group
revenue at EUR 56.0 million
(previous year: EUR 68.3 million)
* EBIT margin reaches 0.7 % (previous year: 5.2 %) with EBIT being at EUR
0.4 million
(previous year: EUR 3.5 million)
* ttSprint efficiency program progressing according to plan
* First restructuring expenses included in Q1 result - adjusted EBIT
margin amounts to 2.0%
* Energy Management with 38% revenue increase
* Major orders in the areas of liquid-cooling for data centers and
e-mobility
Sassenberg, May 14, 2024 - As expected, due to the weak economic environment
the technotrans Group made a muted start into the 2024 financial year. In
the first 3 months, the thermal management specialist generated consolidated
revenue of EUR 56.0 million (previous year: EUR 68.3 million). Consolidated EBIT
amounted to EUR 0.4 million (previous year: EUR 3.5 million). First
restructuring expenses of EUR 0.7 million in connection with the ttSprint
efficiency program were already included in the EBIT. The EBIT margin was
0.7 % (previous year: 5.2 %), the adjusted EBIT margin reached 2.0 %
accordingly. Return on capital employed (ROCE) amounted to 10.3 % (previous
year: 13.0 %). The technotrans Board of Management expects business to pick
up in the second half of 2024. technotrans already paved the way for an
increase in profitability at the start of the year with major orders in key
future technologies and the launch of the ttSprint efficiency program. The
Board of Management confirms the forecast for the current financial year and
continues to expect revenue between EUR 245 and 270 million with an EBIT
margin between 5.5 % and 7.5 %. The mid-term targets for the 2025 financial
year are also confirmed.
"As expected, we were not able to escape the weak economic trend,
particularly in Germany. 2024 is the year of transformation for us. With our
ttSprint efficiency program, we are structurally transforming technotrans
into a market-oriented, lean and powerful company. With our efficiency
program and successes in important future markets, we are setting the course
for higher profitability and expect the first contributions to earnings as
early as this year," says Michael Finger, CEO of technotrans SE.
Weak economy impacts performance in the first quarter
The technotrans Group generated revenue of EUR 56.0 million in the first
quarter of 2024 (previous year: EUR 68.3 million). Reductions and
postponements of larger orders to the second half of 2024 led to a
significant temporary burden. The focus markets accounted for 95 % of Group
revenue. The Energy Management focus market in particular achieved strong
revenue growth of around 38% due to major orders in the field of
electromobility. As expected, EBIT fell to EUR 0.4 million (previous year: EUR
3.5 million) and the EBIT margin to 0.7 % (previous year: 5.2 %). EBIT
includes one-off expenses of EUR 0.7 million related to the ttSprint
efficiency program. The adjusted EBIT margin therefore amounted to 2.0 %.
ROCE amounted to 10.3 % (previous year: 13.0 %).
The revenue and earnings performance in the first quarter of 2024 is
attributable in particular to the persistently weak economic environment in
Germany and the high interest rates. As expected, the lower revenue volume
combined with unfavourable cost degression and initial expenses for the
organizational transformation of the technotrans Group had an impact on
consolidated EBIT and ROCE in the first three months.
Significant major orders generated, product portfolio expanded
Despite the decline in revenues, the course in the first quarter of 2024 was
set for future growth. Of particular note is a follow-up order in the high
single-digit million range for the cooling of battery storage fast-charging
stations from the manufacturer ADS-TEC Energy. Further major orders for
mobile and stationary cooling systems for rail and road transportation are
also currently being implemented.
As part of another major order for liquid-cooling systems for
high-performance servers in the USA, technotrans has developed a new
retrofit solution. This represents a decisive expansion of the product
portfolio: The thermal management specialist now offers cooling solutions
both for the initial equipment of new data centers and for retrofitting
existing data center structures. This enables technotrans to tap into
significant additional growth potential.
Efficiency program as a comprehensive Group transformation
technotrans has launched the ttSprint efficiency program to support the 2024
and 2025 earnings targets. In addition to a stronger customer focus and
greater speed, this program is intended in particular to increase the
company's profitability. The specific measures include a decentralized,
market-oriented organization in line with technotrans' focus markets and a
focus on profitable growth markets and products. Other instruments such as
greater modularization and the reduction of complexity in product
development are intended to help the Group to achieve greater cost
efficiency. The company's cost structure will be adjusted accordingly. The
project is progressing according to plan. The first contributions to
earnings are expected this year. The full effect will be seen in 2025.
Board of Management confirms forecast
In view of the increasing importance of intelligent thermal management for
the global megatrends of decarbonization, digitalization and electrification
as well as the consistent strategic focus, technotrans Board of Management
is confident about the future development of the company despite the
difficult economic conditions. For 2024, it expects revenue between EUR 245
and 270 million with an EBIT margin between 5.5 and 7.5 %. ROCE is
forecasted between 14.0 and 16.0 %. The mid-term targets for the 2025
financial year remain unchanged: revenue between EUR 265 million and EUR 285
million and an EBIT margin between 9.0 and 12.0 %. ROCE is expected to
exceed 15.0 %. M & A transactions are not included in this figure.
"We will consistently implement our Future Ready 2025 strategy with the
ttSprint efficiency program," emphasizes Michael Finger. "This will pave the
way for profitability and make us more resilient to external influences."
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 18 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 1,600 people worldwide. The
Group reported revenue of EUR 262.1 million for the 2023 financial year.
Note
This press release contains statements on the future development of the
technotrans Group. They reflect the current views of the management of
technotrans SE and are based on corresponding plans, estimates and
expectations. Please note that the statements contain certain risks and
uncertainties that could cause actual results to differ materially from
those anticipated.
Contact for journalists: Investor Relations:
Lukas Schenk Sputnik GmbH Press Frank Dernesch Investor Relations
and public relations Hafenweg 9 technotrans SE
48155 Münster +49 (0) 2 51 / 62 Robert-Linnemann-Strasse 17 48336
55 61-131 Sassenberg +49 (0) 25 83 / 3 01-18
(1)schenk@sputnik-agentur.de 68
(2)https://www.sputnik-agentur.de (1)investor-relations@technotrans.
1. de (2)https://www.technotrans.com
mailto:schenk@sputnik-agentur.de 1.
2. https://www.sputnik-agentur.de mailto:investor-relations@technotr
ans.de 2.
https://www.technotrans.com
---------------------------------------------------------------------------
14.05.2024 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: technotrans SE
Robert-Linnemann-Str. 17
48336 Sassenberg
Germany
Phone: +49 (0)2583 - 301 - 1000
Fax: +49 (0)2583 - 301 - 1030
E-mail: info@technotrans.de
Internet: http://www.technotrans.de
ISIN: DE000A0XYGA7
WKN: A0XYGA
Listed: Regulated Market in Frankfurt (Prime Standard);
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1901943
End of News EQS News Service
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1901943 14.05.2024 CET/CEST
| Name | WKN | Börse | Kurs | Datum/Zeit | Diff. | Diff. % | Geld | Brief | Erster | Schluss | |
|---|---|---|---|---|---|---|---|---|---|---|---|
 |
TECHNOTRANS SE NA O.N. | A0XYGA | Xetra | 20,700 | 28.05.24 17:36:25 | -0,200 | -0,96% | 0,000 | 0,000 | 21,000 | 20,900 |
