Brockhaus Technologies AG: Significant increase in revenue to €84.1 million (+29%) and adjusted EBITDA to €28.8 million (34.3% margin) in H1 2023

Frankfurt am Main, August 3, 2023.

According to preliminary figures, Brockhaus Technologies AG (BKHT, ISIN: DE000A2GSU42, "Brockhaus Technologies") generated revenue of €84.1 million in the first half of the financial year, which corresponds to growth of +29% compared to the same period of the previous year (H1 2022: €65.1 million). Adjusted EBITDA increased by +24% to €28.8 million and corresponds to an adjusted EBITDA margin of 34.3% (H1 2022: €23.2 million; 35.6% margin). Adjusted EBIT increased by +22% to €26.8 million (H1 2022: €21.9 million; 33.6% margin).

The subsidiary Bikeleasing (Financial Technologies segment) acquired the business operations of two of its prior external sales agencies in the second quarter of 2023. As a result of these acquisitions, commission payments that were previously paid to these sales agencies for their sales performance will cease. This increases both the gross profit as well as earnings. From a pro forma perspective, i.e. as if the sales agencies acquired in Q2 2023 would have already belonged to Brockhaus Technologies since January 1, 2023, this leads to a positive earnings effect and an adjusted pro forma EBITDA of €29.6 million (35.2% margin) or an adjusted pro forma EBIT of €27.5 million (32.7% margin) in the group.

Before adjustments, EBITDA amounted to €27.9 million (H1 2022: €22.8 million) and EBIT to €18.5 million (H1 2022: €14.4 million). EBIT is particularly influenced by PPA amortization.

We confirm the forecast for the financial year 2023 with revenue between €165 million and €175 million and an adjusted EBITDA margin of 35%.

Regarding the definition of alternative performance indicators, see page 85 onwards of our Annual Report 2022. In 2022, the adjustments still included the decreased earnings due to value step-up. In order to avoid deviations between the key performance indicators and IFRS as far as possible, this adjustment is no longer included. This means that revenue is no longer adjusted and the previous year's figures have been adapted accordingly. In addition, the earnings contribution of Palas (former Environmental Technologies segment), which was sold in November 2022, was subtracted from the previous year's figures.

The financial figures stated in this disclosure are preliminary and unaudited. The half-year financial report H1 2023 will be published on Monday, August 14, 2023. The earnings call H1 2023 is also scheduled for Monday at 16:00 CET.
 

Contact:

Brockhaus Technologies – Paul Göhring

Phone: +49 69 20 43 40 90

Fax: +49 69 20 43 40 971

E-Mail: [email protected]