EQS-News

UET United Electronic Technology AG (aconnic) continues profitable growth in the third quarter of 2023

EQS-News: UET United Electronic Technology AG / Key word(s): Quarter Results/Change in Forecast UET United Electronic Technology AG (aconnic) continues profitable growth in the third quarter of 2023 23.11.2023 / 14:55 CET/CEST The issuer is solely responsible for the content of this announcement. Total sales for the first nine months 52.4 mn EUR with growth in the 3rd quarter and first nine months 2023 Increase in EBIT by 6.8 mn EUR to 4.5 mn EUR for the first nine months 2023 Order backlog amounts to 43.1 mn EUR Sales and earnings targets for the 2023 financial year confirmed UET United Electronic Technology AG (ISIN: DE000A0LBKW6), Eschborn, continues its growth and increase in revenue and earnings in the third quarter of the financial year and in the first nine months of the financial year 2023. In the first nine months of 2023, sales growth was 71% compared to the same period last year. The UET Group's consolidated sales were 52.448 mn EUR from 30.696 mn EUR the same period in the previous year.

The preliminary EBIT (earnings before taxes and interest), adjusted for one-off financing expenses, totaled 4.466 mn EUR at the end of September. Compared to the same period last year, EBIT increased by a total of 6.781 mn EUR. (Previous year: -2.315 mn EUR).

For the third quarter, sales growth is 73% compared to the third quarter of 2022 with 18.098 mn EUR (previous year: 10.480 mn EUR). The EBIT for the third quarter increased by 1.324 mn EUR to 0.866 mn EUR.

The order backlog amounts to 43.1 mn EUR as of September 30, 2023, compared to 52.5 mn EUR at the end of December 2022.

For the full year 2023, the UET Group raises its planned double-digit sales growth from the original 20% to a range of 35 to 40%.

“In view of the increasing market challenges caused by geopolitical and economic factors, we are satisfied with the development. We have reached our goal of profitable growth in the third quarter,” says CEO Werner Neubauer.

 

About UET United Electronic Technology AG (aconnic):

UET United Electronic Technology AG is an international technology company with hardware, software and service systems to build and operate telecommunications networks for secure, energy-efficient and sustainable digitalization. Sustainability is a central part of the business model. The UET Group is the only company in the industry with an own value chain with research and development, manufacturing, service and sustainable agriculture for climate-neutral operations. The product portfolio includes network equipment, CO2 storage and the production of bioenergy sources. Systems and services are used by customers including Deutsche Telekom, Orange, Telecom Italia, A1 Telekom Austria and América Móvil. The UET Group is the only international system supplier for critical communications infrastructure with European research, development and production and headquarters in Germany. The UET Group has been listed on the German stock exchange since 2006. 250 employees in eight countries generated sales of around 60 million euros with annual growth of 20 percent.