DJ EQS-News: technotrans sets course for profitability and confirms forecasts for 2024 and 2025

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EQS-News: technotrans SE / Key word(s): Quarterly / Interim Statement
technotrans sets course for profitability and confirms forecasts for 2024 and 2025
2024-05-14 / 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.
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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.

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Contact for journalists: Investor Relations:

Lukas Schenk                   Frank Dernesch 
Sputnik GmbH                   Investor Relations 
Press and public relations     technotrans SE 
Hafenweg 9                     Robert-Linnemann-Strasse 17 
48155 Münster                  48336 Sassenberg 
+49 (0) 2 51 / 62 55 61-131    +49 (0) 25 83 / 3 01-18 68 
schenk@sputnik-agentur.de      investor-relations@technotrans.de 

https://www.sputnik-agentur.de https://www.technotrans.com

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2024-05-14 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

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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 2024-05-14 CET/CEST

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