technotrans remains on track and specifies forecast for 2024 financial year

• Consolidated revenue amounted to € 175.5 million (previous year: € 199.3 million)
• EBIT margin reaches 4.3 % (previous year: 5.1 %) with EBIT of € 7.6 million (previous year: € 10.1 million)
• Adjusted for one-off expenses of € 1.3 million, the EBIT margin is at the previous year's level of 5.1 %
• Focus market Energy Management achieves revenue growth of 27 % and expands prospects in the data center sector
• Robin Schaede, member of the Board of Management, leaves the company's Board of Management for personal reasons; Natascha Sander takes over position as interim-CFO
• Board of Management confirms forecast for financial year 2024 at lower end and adjusts medium-term forecast for 2025 due to macroeconomic conditions

Sassenberg, November 19, 2024 - technotrans remained on target in the first 9 months of the financial year despite the weak economic environment. Consolidated revenue reached € 175.5 million (previous year: € 199.3 million). Consolidated EBIT amounted to € 7.6 million (previous year: € 10.1 million). This corresponds to an EBIT margin of 4.3 % (previous year: 5.1 %). EBIT includes one-off expenses of € 1.3 million. Without these, the EBIT margin would have been at the previous year's level of 5.1%. The return on capital employed (ROCE) amounted to 10.8 % (previous year: 12.3 %). The ttSprint efficiency program was driven forward as planned. The book-to-bill ratio of 1.0 at the end of the third quarter indicates a solid generation of new business. In view of the ongoing economic burdens, the Board of Management has specified its forecast for the 2024 financial year and expects revenue at the lower end of the range between € 245 million and € 270 million with an EBIT margin at the lower end of the range between 5.5 % and 7.5 % and a ROCE at the lower end of the range between 14.0 % and 16.0 %. Also due to the macroeconomic situation, the Board of Management has adjusted its medium-term forecast for the 2025 financial year and now expects consolidated revenue in a range of € 245 million to € 265 million with an EBIT margin of 7.0 % to 9.0 %. ROCE is expected to be in the range of 13.0 % to 16.0 %.

"technotrans achieved a stable performance in the third quarter of 2024 - despite a difficult economic environment - and remained on track in the nine-month period. This was due in particular to the continued high revenue growth in the Energy Management focus market, strong service business and first positive effects of the ttSprint efficiency program," says Michael Finger, CEO of technotrans SE.

Solid performance in the third quarter of 2024

The technotrans Group generated revenue of € 60.2 million in the third quarter, slightly up on the previous quarter. In the first 9 months of the 2024 financial year, consolidated revenue was around 12 % down on the previous year at € 175.5 million (previous year: € 199.3 million) due to the weak economy. The Energy Management focus market continued its growth story unimpressed by this and achieved a 27 % increase in revenue compared to the previous year. Revenue in the Print, Plastics, Healthcare & Analytics and Laser focus markets was down on the previous year due to the macroeconomic situation.

Consolidated EBIT amounted to € 7.6 million (previous year: € 10.1 million). The EBIT margin reached 4.3 % (previous year: 5.1 %). This development resulted from stable profitability of 5.9 % in the third quarter of 2024. This was driven in particular by stable segment EBIT of over 15 % in the Services segment. EBIT includes one-off expenses for severance payments and reorganization costs of € 1.3 million. Without these expenses, the EBIT margin would have been at the previous year's level of 5.1 %. ROCE amounted to 10.8 % (previous year: 12.3 %).

Significant sales successes in Energy Management and Plastics
technotrans again achieved significant sales successes in the third quarter. In the Energy Management focus market, a follow-up order was concluded for the series production of battery thermal management systems (BTMS) for a well-known European manufacturer of electric buses. The order volume is in the high single-digit million euro range. Delivery has already begun. technotrans also expanded its position in the rail transport sector, supplying converter stations on railroad lines for several domestic locations as part of a major order. Further projects of this kind are already being implemented in Germany, Australia, Norway and the USA.

In the data center area, technotrans made significant progress by establishing a framework agreement for series production with a US customer for the first time.

The Plastics focus market also opened up additional prospects with an order as the exclusive supplier of temperature control systems for foaming processes in the battery production of a German car manufacturer. Other highlights included the establishment of a sales cooperation for temperature control systems with enesty GmbH and the successful trade fair appearance at Fakuma.

ttSprint efficiency program close to completion
The ttSprint efficiency program continues to be driven forward. All milestones set in the reporting period were achieved. The Group's cost structure has been sustainably improved. The program will be completed at the end of 2024, meaning that the new market-oriented, decentralized organisational structure will be launched in the new financial year.

Change in the Board of Management
Robin Schaede, Member of the Board of Management, is leaving the company's Board of Management for personal reasons. The company regrets his decision, thanks Mr. Schaede for his achievements and wishes him all the best both personally and professionally.

Robin Schaede's contract ends prematurely on November 30, 2024. The Supervisory Board is already working on succession planning. Natascha Sander, Head of Group Controlling, has been provisionally assigned as interim-CFO for the transition phase.

Forecast 2024 specified - medium-term guidance 2025 adjusted
With regard to the performance in the reporting period and the continued weak economic development, the Board of Management has specified its expectation of achieving consolidated revenue at the lower end of the range between € 245 million and € 270 million in the 2024 financial year, with an EBIT margin at the lower end of the range between 5.5 % and 7.5 % and a ROCE at the lower end of the range between 14.0 % and 16.0 %. Expenses from the efficiency program are included in these figures.

In view of the weak economic forecasts for 2025, the Board of Management of technotrans SE has adjusted the medium-term forecast for the 2025 financial year and expects consolidated revenue in a range of € 245 million to € 265 million (previously: € 265 million to € 285 million) with a consolidated EBIT margin of 7.0 % to 9.0 % (previously: 9.0 % to 12.0 %). ROCE is expected to be in the range of 13.0 % to 16.0 % (previously: > 15 %).

"We have achieved important sales successes in the first 9 months and adapted the Group's cost structure to future challenges. With our new market-oriented organizational structure, we are well equipped for the future," says Michael Finger.

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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.