technotrans AG surpasses expectations for first half

Revenue rises to EUR 103.2 million / Operating result almost doubles / Revenue and earnings forecast for 2017 increased

technotrans AG is able to report a highly successful first half of 2017: in the period under review, revenue rose 62.3 percent to EUR 103.2 million, while the operating result (EBIT) gained 92.2 percent to reach EUR 8.4 million. This represents an EBIT margin of 8.2 percent (previous year: 6.9 percent). In light of the continuing growth momentum, technotrans AG is revising its revenue and earnings forecast for the current full year upwards.

“We are very satisfied with the business performance in the first half,” remarked Henry Brickenkamp, Chief Executive Officer of technotrans AG. He added that the momentum from the magnificent start to the year had continued unabated. The second quarter, too, progressed better than expected in almost every area of the company: revenue climbed 52.0 percent to EUR 50.4 million, while profit at EBIT level improved to EUR 4.1 million (previous year: EUR 2.3 million).

The growth trajectory in the first half of the year is attributable to two key factors. On the one hand the companies acquired in the past financial year made a revenue contribution of EUR 28.4 million. “We are particularly impressed with the development of our most recent acquisition, GWK Gesellschaft Wärme Kältetechnik mbH,” stressed Henry Brickenkamp. He also applauded the “strong organic performance” of the group as a whole. That alone contributed growth of EUR 11.2 million, representing an increase of 17.7 percent. Profit after taxes was almost doubled to EUR 6.1 million, equivalent to a return on sales of 5.9 percent (previous year: 5.0 percent).

In the Technology segment, revenue climbed by 76.4 percent to EUR 73.9 million. EUR 23.2 million of this total was contributed by gwk, which has been consolidated since September 1, 2016. The revenues attributed to this segment for the laser, machine tool and forming technology areas as well as in the growth markets achieved growth of around 45 percent. Overall, the Technology segment increased its revenue share to 71.6 percent (previous year: 65.0 percent). The return on sales for the segment rose by 3.0 percentage points to 5.1 percent. 

Revenue for the Services segment climbed by 35.2 percent to EUR 29.3 million. A substantial portion of this amount is attributable to the increased scope of consolidation. Organic revenue growth came to 11.1 percent. In that area, follow-on business from the Technology markets and Technical Documentation acted as growth drivers. The return on sales remained almost constant at 15.9 percent (previous year: 16.1 percent).

Board of Management raises forecast
In a reflection of the positive business performance, the technotrans Group is increasing its revenue forecast for the financial year in progress to EUR 203 to 208 million (previously: EUR 185 to 195 million). It now envisages an operating result (EBIT) within a corridor of EUR 16.0 to 17.0 million (previously: EUR 12.0 to 14.0 million). 

The Board of Management furthermore confirms its medium-term targets of increasing the revenue of the technotrans Group to EUR 300 million. By 2020, the organic growth rate is to average an annual five to six percent. Further growth is to be generated by acquisitions.

The full 6-month report 2017 is available to download from Investor Relations/Financial Reports section of the company website.

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