EQS-News

Kontron AG in Q1: Strategic Transformation Approaching Completion

EQS-News: Kontron AG / Key word(s): Quarter Results/Quarterly / Interim Statement Kontron AG in Q1: Strategic Transformation Approaching Completion 03.05.2024 / 07:04 CET/CEST The issuer is solely responsible for the content of this announcement. 36% revenue growth: EUR 356 million compared to EUR 262 million in Q1 2023 First-time consolidation of Katek as of March 1, 2024, contributes EUR 54 million to revenues Strong gross margin of 41.3% in the 1st quarter  EUR 35.4 million EBITDA vs. 29.6 million in the same quarter of the previous year Outlook for 2024 strong with 33% profit growth Linz, 03.05.2024: Kontron AG, a leading global provider of IoT technology, today announced its results for the first quarter of 2024. For the first time, Katek is included for 1 month. Revenues increased by 35.9% to EUR 356.1 million (previous year: EUR 262.0 million), of which EUR 54.1 million came from Katek. The gross margin was very strong at 41.3% and is the result of the strategic realignment towards IoT. In the first quarter, 50% of EBITDA was already generated in the Software & Solutions segment with an EBITDA margin of 19.5%. The overall EBITDA amounted to EUR 35.4 million (+19.6%). Adjusted for one-off effects and M&A costs, EBITDA amounted to EUR 39.2 million, an increase of 33% from the previous year. Consolidated net profit amounted to EUR 16.3 million (previous year: EUR 16.6 million) and was also influenced by these one-off effects. With the acquisition of Katek, total assets have reached a new level of EUR 1,884 million with EUR 670 million in equity (Dec 2023: 1,371 million with 604 million in equity). Equity thus increased by 11% in the first quarter alone. The cash position of EUR 356 million demonstrates solid financing even after the acquisition of Katek. The operating cash flow amounted to EUR -10.7 million, or EUR 23.8 million adjusted for the reduced factoring and a deferral effect for 2023.