DGAP-News

technotrans increases consolidated revenue compared with previous quarter and achieves adjusted EBIT margin on a par with previous year - Seite 2

"Business development has exceeded our expectations. Following a solid business performance in the third quarter, consolidated revenue after nine months is only moderately down on the previous year despite ongoing corona-related charges. Despite high additional expenditure on structural adjustments within the technotrans Group, which we have pushed ahead with independently of corona, technotrans remains profitable. Adjusted for one-off effects, we achieved an EBIT margin at the previous year's level. We are satisfied with this business performance against the background of a very difficult global economic situation," says Michael Finger, Spokesman of the Board of Management of technotrans SE.

Adjusted EBIT margin on previous year's level
The technotrans Group posted consolidated revenue of € 141.5 million in the first nine months of the 2020 financial year (previous year: € 153.4 million). This was only 7.8 % below the previous year despite corona-related burdens. EBIT remained positive at € 3.9 million (previous year: € 6.6 million) with an EBIT margin of 2.8 % (previous year: 4.3 %). EBIT included one-off charges of € 2.7 million from structural and personnel adjustments as well as one-off income of
€ 0.6 million from the termination of a fine proceeding (Federal Financial Authority BaFin). This resulted in an adjusted EBIT of € 6.0 million.
At 4.2%, the adjusted EBIT margin remained at the previous year's level.

The Group's assets and financial position remained solid. The equity ratio was 50.5 % (December 31, 2019: 51,4 %). The Group had cash and cash equivalents of € 26.6 million at September 30, 2020 and reduced its net debt by more than 11 % to € 21.5 million in the period under review. technotrans generated a positive free cash flow of € 3.5 million in the nine-month period (previous year: € 1.0 million) was achieved - despite increased investments due to the new building at the Holzwickede site.

The consequences of the corona pandemic have affected the reporting segments to varying degrees. The Technology segment achieved revenue of € 102.4 million. The decline compared with the previous year's figure of € 109.1 million was moderate at 6.1 %. On the other hand, the change in earnings was more pronounced, which was due in part to a comprehensive allocation of one-off structural costs. The segment EBIT thus fell from € 0.3 million to € -1.2 million. The return for the segment fell accordingly from 0.3 % to -1.2 %. Adjusted for one-off effects, this was slightly higher than in the previous year at 0.4%.