KATEK grows by almost 50 percent in the first half of 2021 with significantly increased profitability; 2021 sales target confirmed, very good outlook for the full year

DGAP-News: KATEK SE / Key word(s): Half Year Results/Half Year Report
13.08.2021 / 08:02
The issuer is solely responsible for the content of this announcement.

KATEK grows by almost 50 percent in the first half of 2021 with significantly increased profitability; 2021 sales target confirmed, very good outlook for the full year

Group sales in the first half of 2021 increased by around 49 percent year-on-year to EUR 271.0 million

– Organic growth of over 27 percent demonstrates competitiveness of business and book-to-bill ratio of 1.5 indicates continued growth in double digit and further market share gains

– Operating EBITDA (adjusted) improved significantly by a good 63 percent to EUR 13.4 million

– Reported EBITDA strongly increased to EUR 17.7 million (+131.7 percent)

– Sales forecast for full year 2021 at 535 to 560 million euros underpins unchanged positive business expectation

– Following the acquisition of a majority stake in AISLER B.V. in the promising field of „Online Prototyping Platform for Electronics“, further strategic investments to expand the market position in the field of High Value Electronics are taking shape.

Munich, August 13, 2021 – KATEK SE, a leading European electronics company offering software and hardware development, prototyping and manufacturing, and related services for high-end electronics solutions, continues its strong growth. As a result, the Group closed the first half of 2021 with a 48.5 percent increase in sales and was even able to increase its growth momentum. Group sales in the first half of the year rose significantly from EUR 182.5 million to EUR 271.0 million. Significant growth impetus was provided by

– High Value Electronics projects in the renewables/solar and eMobility sectors in particular continue to show significant double-digit growth rates (+24.2 percent and +48.9 percent, respectively)

– and inorganic sales growth from the integration of the Leesys Group (now KATEK Leipzig and TeleAlarm)

EBITDA of the KATEK Group has more than doubled to 17.7 million euros in the first half of 2021 compared to the same period of the previous year (H1/2020: 7.7 million euros). The EBITDA margin was thus 6.5 percent, compared with 4.2 percent in H1/2020. In addition to the strong operating performance, this was primarily due to the positive special effect from the preliminary purchase price allocation of the assets acquired from Leesys (Leipzig Electronic Systems GmbH, now KATEK Leipzig GmbH) in Q1/2021.

Operating EBITDA (adjusted) excluding special items of EUR 13.4 million for the first half of 2021 is also significantly higher than the prior-year figure of EUR 8.2 million, by a good 63 percent. The EBITDA margin (adjusted) improved from 4.5 percent in the prior-year period to 5.0 percent despite a persistently challenging environment.

„We truly believe that it is possible to grow strongly and at the same time further increase profitability step by step. The main growth drivers on the sales and earnings side continue to be the Renewables/Solar, eMobility and Healthcare segments. These high-growth segments will continue to contribute significantly to profitable growth in the future and have a significant impact on our development to a European powerhouse. The order trend in the other industrial segments is also very strong“ says Rainer Koppitz, CEO of KATEK SE.

M&A activities to strengthen in the High Value Electronics area

As previously announced, KATEK SE acquired a majority stake in electronics startup AISLER B.V. in May 2021 (initial consolidation date: June 01, 2021). AISLER is a forward-looking and fast-growing online prototyping provider for electronics, giving KATEK access to its excellent team and AISLER’s technology base to drive the digitalization and automation of KATEK’s portfolio across the entire electronic value chain. The first joint projects to exploit mutual synergies have already started.

Rainer Koppitz: „In the future, cooperation with customers will be much more digital and automated. We are preparing for this. A new generation of developers and buyers expects collaboration with electronics suppliers that will have nothing to do with today’s analog project work. Instead, it will be based on the experience that today it is possible to process even complex orders for products such as cars or services such as individual trips completely barrier-free online – with AISLER, we are transferring this to the electronics world and want to give our industry decisive impetus. „

The KATEK CEO further on the subject of M&A: „In addition, we are working flat out to plan further company investments in the High Value Electronics sector in order to further expand our strong market position – it cannot be ruled out that there will be news on this already in the current half year.“

Forecast for full year 2021

The KATEK management continues to see the target communicated in the securities prospectus (sales revenues 2021 >500 million euros) confirmed and expects a continuation of the positive business development for the full year after the successful first half of the year. Based on the known environmental conditions, the strong position in high-growth segments and the sustainable optimization projects currently being implemented, sales and operating EBITDA (adjusted) are again expected to exceed the respective prior-year figures. This means consolidated sales of around EUR 535 to 560 million and an increase in operating profit (adjusted EBITDA) of between 30 and 59 percent to EUR 27 to 33 million.

The complete half-year financial report of KATEK SE is published on the website www.katek-group.com in the Investor Relations section.

KATEK Investor Relations
Investor Relations
49 89 24881 4280

KATEK press contact
Ramona Kasper
Head of Marketing & Communications
+ 49 160 970 88 676

The KATEK Group is a leading European electronics company offering hardware and software development, prototyping and manufacturing, and related services in the market for high-end electronics or electronics services. The KATEK Group currently employs over 2,600 employees* in Germany and Eastern Europe. CEO is Rainer Koppitz and CFO is Dr. Johannes Fues. For more information about KATEK, please visit https://katek-group.com/.

Statements contained herein may constitute „forward-looking statements“. Forward-looking statements are identified by words such as „may,“ „will,“ „should,“ „plans,“ „expects,“ „anticipates,“ „estimates,“ „believes,“ „intends,“ „has in mind,“ „targets“ or their negative form or equivalent variations and comparable terminology.

Forward-looking statements are based on current expectations and involve a number of known and unknown risks, uncertainties and other factors that may cause the actual results, levels of utilization, performance or achievements of the Group or the industries in which it operates to be materially different from those expressed or implied by such statements. Undue reliance should not be placed on forward-looking statements. The Group will not update or revise any forward-looking statements contained herein as a result of new information, future events or otherwise.

13.08.2021 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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