Schaltbau Holding - Bode drives margin recovery
Schaltbau Holding reported a strong set of results in H121, with revenue growth of 6% and a 42% increase in EBIT. The margin improvement was driven by the recovery at Bode after years of weak results. With the contribution of new segments such as new energy, new industry and e-mobility, we expect overall revenue growth to accelerate, while cost savings and efficiency efforts will continue to drive higher profitability. We expect a further improvement in the EBIT margin to 7.2% in 2023, reflecting an EBIT CAGR of 27% in 2021–23e.Schaltbau Holding AG is a Germany-based company, which develops and manufactures components for transportation technology and for the investment goods industry. It operates in the following segments: Mobile Transportation Technology; Stationary Transportation Technology and Components. The Mobile Transportation Technology segment offers door systems for buses and railway vehicles, fittings for sliding vehicle doors through the Bode Group, and solutions for the controlling and monitoring of trains as well as their communication with stationary safety and signal system technologies through Albatros S.L. The Stationary Transportation Technology segment offers railway signal technology, warning systems, rail point heating systems and maritime aids to navigation through the Pintsch Group, as well as Brake Systems, which provides industrial brake and crane brake systems through the Pintsch Bubenzer Group. The Components segment offers connectors and snap-action switches, among others.
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