EQS-News

Ekotechnika AG publishes figures for the financial year 2022/2023 - Seite 2

Revenue from the sale of new agricultural machinery fell significantly to EUR 46.8 million due to the factors mentioned above and, with a share of 26.7%, was no longer the company's largest source of revenue for the first time (previous year: EUR 129.7 million or 54.6%). In particular, sales of tractors, combine harvesters and forage harvesters declined in the reporting period due to the suspension of deliveries by the Group's previous main suppliers. Ekotechnika AG sold a total of 131 new tractors and 15 combine harvesters and forage harvesters in the past financial year. In the previous year, the figure was 263 tractors and 17 combine harvesters and forage harvesters.

In response to the withdrawal of leading agricultural machinery manufacturers from the Russian market, Ekotechnika AG began exploring new suppliers in China, Turkey and other countries as early as 2022. Ekotechnika now distributes new machines of the LOVOL (China) and Basak (Turkey) brands, among others. The Group has also expanded its product portfolio and now also offers Russian agricultural machinery as well as road construction and municipal technology.

Revenue from the sale of used agricultural machinery increased significantly to EUR 29.9 million - a 17.1% share of total revenue (previous year: EUR 7.3 million or 3.1%). At 48.9% (previous year: 37.7%), the share of total revenue accounted for by the spare parts trade increased significantly and is now by far the largest sales item. At EUR 85.7 million, sales in this division were slightly below the previous year's level of EUR 89.6 million. In the Services division, sales increased to EUR 8.6 million in the 2022/2023 financial year (previous year: EUR 7.8 million). Revenue from Smart Farming solutions rose to EUR 2.4 million in the reporting period (previous year: EUR 1.9 million).

Consolidated equity amounted to € 68.5 million as at September 30, 2023 and was therefore around 34% below the figure of € 104.2 million as at September 30, 2022 (adjusted for exchange rate effects: increase of around 22%). This is due to a significant change in the currency translation reserve of € 44.9 million caused by high exchange rate volatility, which still had a positive value of € 11.7 million as at September 30, 2022 and reached a negative value of € 33.2 million as at September 30, 2023. With total assets of 159.8 million euros (September 30, 2022: 202.7 million euros), the Group equity ratio remained solid at 42.9% (September 30, 2022: 51.4%).