EQS-News

aconnic AG (formerly UET AG) with strong revenue growth in Q4 2023 and full year 2023

EQS-News: UET United Electronic Technology AG / Key word(s): Preliminary Results/Quarter Results aconnic AG (formerly UET AG) with strong revenue growth in Q4 2023 and full year 2023 19.04.2024 / 12:17 CET/CEST The issuer is solely responsible for the content of this announcement. Consolidated revenue grows by 48% to 72.7 mn EUR Preliminary operating earnings before interest and taxes (EBIT) increased to 5.9 mn EUR Order backlog amounts to 32.6 mn EUR aconnic AG (ISIN: DE000A0LBKW6), based in Munich, continues its growth in the fourth quarter of 2023. With high demand in systems, software and services for the build-up of communication networks, revenues grew to highest level. aconnic’s consolidated sales amounted to 72.746 mn EUR in 2023, after 49.036 mn EUR in the previous year. This corresponds to an increase in revenue of 48%. The targeted sales growth of 20% was therefore exceeded.

For the full year earnings improved. The preliminary operating earnings before interest and taxes (EBIT) amount to 5.904 mn EUR, compared to 0.935 mn EUR in the previous year.

One-time expenses from financing effects, financing, and structuring amounting to approximately 3.6 mn EUR are not included in the operating result.

In the fourth quarter, revenue amounted to 20.296 mn EUR (previous year: 18.341 mn EUR). This represents a revenue growth of 11% compared to the fourth quarter of 2022. The operating EBIT for the fourth quarter amounted to 1.453 mn EUR (previous year: 3.250 mn EUR).

Investments to increase supply chain resilience and overall improved component availability have reduced long-term orders. With those developments the order backlog as of December 31, 2023 is 32.6 mn EUR, compared to 43.1 mn EUR at the end of September 2023.

The detailed and final business figures for the year 2023 will be published with the aconnic Annual Report 2023 at the end of June.

"The investments in new products and facilities in our supply chain have led to solid growth and satisfactory results. This has laid a foundation for the fiscal year 2024. Considering the increasing market challenges due to geopolitical and economic influencing factors, we aim to continue growing in 2024. Considering the actual market development, we expect a growth to be in the single-digit percentage range. " says CEO Werner Neubauer.