Brockhaus Technologies AG: Brockhaus Technologies remains on a record course after nine months – full-year forecast raised

EQS-News: Brockhaus Technologies AG / Key word(s): 9-Month Figures/Quarterly/Interim Statement

Brockhaus Technologies AG: Brockhaus Technologies remains on a record course after nine months – full-year forecast raised

14.11.2022 / 07:03 CET/CEST
The issuer is solely responsible for the content of this announcement.

Brockhaus Technologies remains on a record course after nine months – full-year forecast raised

  • Revenue before PPA increased by +268% to €125.8 million in 9M 2022.
  • High adjusted EBITDA margin 9M 2022 of 38%
  • Free cash flow before taxes of €27.0 million compared to €2.0 million in the previous year
  • All three business areas with further profitable growth in the third quarter

Frankfurt am Main, November 14, 2022. Brockhaus Technologies AG (BKHT, ISIN: DE000A2GSU42) has fully confirmed the nine-month figures communicated in an ad hoc release on November 10, 2022. Sales, EBITDA and EBIT as well as free cash flow before taxes reached in the first nine months of the financial year. Due to this strong operational development, management has significantly increased its forecast for the full year 2022.

Brockhaus Technologies published its quarterly statement 9M 2022 today. In the first nine months, sales before PPA increased by +268% to €125.8 million. Adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) rose disproportionately by +835% to €47.6 million. This corresponds to an adjusted EBITDA margin of 37.9% after 14.9% in the same period of the previous year 9M 2021. At the same time, the adjusted EBIT increased by +1,115% compared to the previous year to €44.5 million. Based on the outstanding shares of Brockhaus Technologies, this corresponds to adjusted earnings per share of €1.17 compared to €0.03 in the previous year. Free cash flow before taxes, which had already risen significantly from €1.7 million to €16.0 million in the first half of 2022, continued to develop positively in the third quarter to €27.0 million.

Due to the strong operational development in combination with a generally high cash conversion, the group’s debt was further reduced significantly. Bikeleasing alone was able to make another voluntary early repayment of €15 million on one of the acquisition loans in connection with the takeover from November 2021 in the third quarter. Against this background and with cash and cash equivalents of EUR 22.9 million and a very solid equity ratio of 42.8% (as of September 30, 2022), Brockhaus Technologies is in good financial and accounting terms for the planned future growth – be it organic or inorganic – erected.

“We were able to continue the strong profitable growth of the first half of the year in the third quarter of the 2022 financial year and underline the very high resilience of our business model in a difficult geopolitical and macroeconomic environment,” commented Marco Brockhaus, CEO of Brockhaus Technologies, on the current results. “Even if the price development in this current environment does not reflect the excellent operational development, we are proud and convinced of the value of our technology group, which can also be seen in the analysts’ estimates.”

Strong, profitable growth in all segments in the third quarter

That Financial Technologies segmentconsisting of bike leasing, continued to develop strongly. In the first nine months of 2022, Bikeleasing generated sales before PPA of €87.5m with an adjusted EBITDA of €41.7m and an adjusted EBIT of €40.4m. This corresponds to an adjusted EBITDA margin of 47.6% and an adjusted EBIT margin of 46.1%.

Comparable figures for 9M 2021 are not possible under IFRS as Bikeleasing only prepared financial information according to HGB until Brockhaus Technologies gained control of the business through the acquisition at the end of November 2021. However, the continued strong growth trend can be made clear on the basis of operational KPIs. The number of bicycles brokered via the digital bike leasing platform rose by +43% to around 99,000 in the first nine months of the year. The number of corporate customers on the bike leasing platform, an important indicator of future growth potential, rose further from around 40,000 at the end of the first half of the year to around 43,000. Around 2.4 million employees can now access the solution via the companies connected to the bike leasing platform. Bikeleasing also showed noticeable success in Austria with its recently launched internationalization strategy.

Bikeleasing develops and operates a digital B2B financing platform for brokering, financing and managing company bikes.

That Security Technologies segmentfull IHSE and kvm-tec, seamlessly continued the growth of the first half of the year in the third quarter. Within the first nine months of the year, IHSE and kvm-tec together generated sales of €24.1 million (+19.5% vs. 9M 2021) with an adjusted EBITDA of €5.4 million and an adjusted EBIT of €4.5m. This corresponds to an adjusted EBITDA margin of 22.4% and an adjusted EBIT margin of 18.9%.

The market recovery after the partial lifting of the corona-related travel and contact restrictions of the two previous years continued unabated. The US business in particular continued to develop very positively in the third quarter, while the China activities continued to be affected by lockdowns. Due to a high order backlog, a further positive development is also expected for the remainder of the financial year.

IHSE is a leading developer of KVM (Keyboard, Video and Mouse) technology for highly secure, low-latency and lossless transmission of data in “mission-critical” applications, both proprietary and over IP.

That Environmental Technologies segmentconsisting of Palas, was also very positive with continued strong growth. Within the first nine months of the year, Palas generated sales of €14.2 million with an adjusted EBITDA of €4.3 million and an adjusted EBIT of €3.4 million. This corresponds to an adjusted EBITDA margin of 30.2% and an adjusted EBIT margin of 24.0%.

The third quarter was significantly higher than in the same quarter of the previous year, primarily due to the strong demand in the core business with certified optical measuring devices for immission measurement. This growth in the core business was able to fully compensate for the already communicated decline in business with test benches for respiratory masks, which had grown strongly in the previous year due to Corona.

Palas develops, manufactures and sells high-precision devices for measuring, characterizing and generating particles in the air, such as fine dust and nanoparticles.

Forecast for the 2022 financial year raised

Due to the strong operational development in the first nine months of the year, management assumes that the previous forecast will be exceeded. Management now expects full-year 2022 pre-PPA revenue of between €150m and €155m (previous guidance: €140m – €150m), representing growth of between 19% and 23% over pro forma 2021 revenue ( previously forecast: growth between 11% and 19%). With regard to the adjusted EBITDA margin, Brockhaus Technologies confirms the current forecast of 35%.

Further details can be found in the Quarterly Statement 9M 2022 at https://ir.brockhaus-technologies.com/websites/brockhaustechnologies/English/3000/publications.html.

The earnings call for the 9M 2022 quarterly results will take place this Monday, November 14, at 4:00 p.m. (CET) in English. Interested parties can register for the call using the following link: https://webcast.meetyoo.de/reg/XzwLxcWQp8ba

financial calendar

November 17th – 18th, 2022 MM Warburg & CO – Meet The Future Conference

November 28-30, 2022 German Equity Forum

About Brockhaus Technologies

Brockhaus Technologies AG (BKHT, ISIN: DE000A2GSU42), based in Frankfurt am Main, is a technology group that acquires high-margin, high-growth technology and innovation champions with B2B business models in German SMEs. With a unique platform approach and a long-term horizon, Brockhaus Technologies actively and strategically supports its subsidiaries in growing profitably in the long term, both across industries and internationally. At the same time, Brockhaus Technologies offers access to these unlisted German technology champions, which are otherwise inaccessible to capital market investors. For more information, visit www.brockhaus-technologies.com

contact information

For investors:

Paul Goehring

Telephone: +49 69 20 43 40 978

Fax: +49 69 20 43 40 971

Email: [email protected]

For media:

GFD – Society for Financial Communications
Telephone: +49 69 97 12 47 33

Fax: +49 69 97 12 47 20

Email: [email protected]

14.11.2022 CET/CEST Release of a Corporate News/Financial News, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

EQS distribution services include regulatory announcements, financial/corporate news and press releases.
Archive at www.eqs-news.com

source

Leave a Reply

Your email address will not be published. Required fields are marked *