DGAP-News Brockhaus Capital Management AG: BCM publishes results for Q1 2021: forecast for fiscal year unchanged
DGAP-News: Brockhaus Capital Management AG / Key word(s): Quarterly / Interim Statement/Quarter Results
BCM publishes results for Q1 2021: forecast for fiscal year unchanged
- Environmental Technologies segment (Palas) more than doubles revenue compared with prior-year quarter
- Due to ongoing travel restrictions and social distancing requirements resulting from the COVID-19 pandemic, customers of the Security Technologies segment (IHSE) continue to postpone projects
- Forecast for fiscal year 2021 unchanged
Frankfurt am Main, 15 May 2021. Brockhaus Capital Management AG (BKHT, ISIN: DE000A2GSU42, "BCM"), a long-term oriented technology group focused on acquiring high-margin and high-growth technology champions within the German Mittelstand, announced its results for Q1 2021 on 15 May 2021.
In the first three months of fiscal year 2021, BCM Group generated revenue of €10.8 million. This is a decline of -13.8% against the comparatively strong prior-year quarter Q1 2020 before the start of the coronavirus pandemic (€12.6 million). Adjusted EBITDA of €0.8 million corresponds to an adjusted EBITDA margin of 7.4% (Q1 2020: €2.6 million or 20.9%). The adjusted EBITDA margin was primarily influenced by lower revenue, a product mix changes and higher due diligence costs in connection with the evaluation of potential acquisitions of companies by BCM AG.
The segments of BCM Group displayed opposing performance trends. Whereas the Environmental Technologies segment (Palas) more than doubled revenue year on year in the first quarter with growth of +114.3%, the Security Technologies segment (IHSE) saw a decline in revenue of -41.4%. This was due to the fact that IHSE customers continued to postpone projects because of the ongoing lockdowns, travel restrictions and social distancing requirements. However, in the first four months of 2021, BCM Group almost achieved the revenue level recorded in the same period in 2020 as the result of catch-up effects in April.