EQS-News

3U HOLDING AG brings the financial year 2023 to a successful close - Seite 2

Uwe Knoke, Management Board member responsible for Strategy and Business Development, concludes that he is generally satisfied with the results achieved in a difficult economic environment: “The current figures are evidence that our business model also works in tough economic conditions. Thanks to the Group’s diversified positioning, we were able to largely compensate for the negative influences from the economy in the individual sectors. We can therefore be satisfied overall with what we have achieved. Our preliminary figures reveal that we have reached all our adjusted targets for 2023. This provides a sound basis for the years ahead in which we will naturally be striving to improve on the results.”

Higher electricity yield boosts profit in the Renewable Energies segment

The ITC segment (Information and Telecommunications Technology) and Renewable Energies segment have been successful in delivering revenue growth in the double-digit percentage range, while also achieving a significant improvement in earnings. Against the backdrop of weak e-commerce prevailing in Germany as a whole and a massive slump in construction activity, the SHAC (Sanitary, Heating and Air Conditioning Technology) segment sustained a significant decline in revenue.

The ITC segment lifted its revenue by more than 26% to EUR 15.3 million in 2023 (previous year: EUR 12.1 million). The strongest performance was delivered by Managed Services on the back of acquisitions. As a result of the profitable product mix, segment EBITDA also increased by more than 24% to EUR 3.9 million (previous year: EUR 3.1 million). The Renewable Energies segment generated a higher electricity yield in 2023 than in the previous year due to the good meteorological conditions. According to preliminary calculations, revenue advanced from EUR 7.2 million to EUR 8.1 million. Segment EBITDA increased significantly, from EUR 3.4 million to EUR 5.8 million, reflecting growth of a good 72%. Business in the SHAC segment was unable to disengage from the overall economic environment in 2023. Although the segment outperformed the industry environment in the reporting period, it nevertheless reported lower revenue and earnings. Revenue came in at EUR 29.6 million in the period under review, down 6% (previous year: EUR 31.5 million). Segment EBITDA stood at EUR –1.2 million (previous year: EUR 0.1 million).