EQS-News: KATEK SE: KATEK increases gross profit in Q2 to around 30% and generates sales of 390 million euros in the first half of the year Management Board confirms forecast for 2023

KATEK increases gross profit in Q2 to around 30% and generates sales of 390 million euros in the first half of the year Management Board confirms forecast for 2023

• Sales of EUR 390 million in the first half of 2023, increase of 23.6% compared with the prior-year period
• Gross profit margin in Q2 2023 at around 30% in relation to total output
• Increase in EBITDA (reported) of 17.9% compared to prior-year period
• June 2023 best month in company history with 7.6% EBITDA margin
• Operating result (EBITDA adjusted) of EUR 16.6 million in the first half of the year
• Closing of acquisition of highly profitable US-based Nextek completed

Munich, August 11th, 2023 KATEK SE closes the first half of 2023 with a strong cash flow increase, a highly improved margin and significant growth. Group sales increased to EUR 390.4 million in the first half of 2023 (+23.6%; H2 2022: EUR 315.9 million), while the operating result (EBITDA adjusted) was EUR 16.6 million. The strong growth is predominantly attributable to the organic development of the business. The Solar segment recorded a 42.8% increase in sales, making a significant contribution to the above-average growth of the Systems & Products segment of 25.1% compared with the same period of the previous year. Further, around 40% of the total growth, is attributable to the consolidation of KATEK Canada Inc. (formerly SigmaPoint Technologies Inc.).

The completed first half of 2023 shows that KATEK's efficiency strategy is making significant progress. This includes, among other things, material cost management and consistent price enforcement with customers to offset the increased input cost factors. Gross profit margins were significantly improved. The successful supply chain management programs led to a further reduction in inventories to now EUR 243 million. Further material reductions in inventories are planned for the remainder of the year, irrespective of the growth trajectory.

Effective working capital management is also reflected in a strong operating cash flow of EUR 11.5 million in the first half of the year. This means that the cash position has increased to EUR 43.2 million compared to the previous year and forms a solid basis for further organic and inorganic growth through mergers and acquisitions.

eCharging as a growth driver

KATEK started selling its own ghostONE white-label wallbox in the first half of 2023 - with great success. The electronics company has already generated several major orders for the highly intelligent, completely cross-linked wallbox, with unit sales running into the millions. Further significant order gains are expected in the eCharging segment. KATEK expects the successful order development to contribute to a significant increase in volume and earnings in this area next year.

Closing of the acquisition of Nextek

Already in 2022, KATEK SE finalized a purchase agreement for the highly profitable Nextek Inc. in Madison, Alabama in the USA. At the beginning of July 2023, this acquisition has now been formally completed (closing). The company is currently undergoing the post-merger integration program. Further acquisitions are currently being examined, in particular also sensible additions to the Systems & Products segment.

Management fully confirms forecast for 2023

The pleasing run rate in the first half of 2023, the high order backlog and the operating capacity utilization in all areas make the Management Board very confident. The further flattening of the materials crisis and the successful implementation of measures on the price and cost side will have a significant impact. On this basis, the forecast for 2023 is confirmed in full.

The complete half-year financial report 2023 is published on the website of KATEK SE in the Investor Relations section.

Contact

KATEK Investor Relations
Ramona Kasper
Group Head Marketing & Communications
ir@katek-group.com
+ 49 160 970 88 676

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.

3,700 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.

CEO & Co-Founder is Rainer Koppitz and CFO is Dr. Johannes Fues. For more information about KATEK, please visit https://katek-group.com.

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