DGAP-News: KATEK SE / Key word(s): Annual Report/Annual Results
Despite the volatile market environment in 2021, KATEK increases sales by more than 30%, operating earnings rise by around 46% – outlook remains positive
– Group sales up 30.4% on the previous year to 540.1 million euros
– Reported EBITDA improved to EUR 28.7 million after EUR 12.9 million in 2020
– Operating result (EBITDA adjusted) increased by 45.8 percent to 30.3 million euros
Munich, March 31, 2022 – The KATEK Group published its business figures today for the past 2021 financial year, which continued to be affected by the Corona pandemic, confirming the preliminary results already published on March 16, 2022. Thus, the electronics group continued its growth path in fiscal 2021, achieving record figures for both sales and earnings. In a generally difficult environment against the backdrop of ongoing supply bottlenecks for semiconductors and other materials, the KATEK Group was able to achieve significant increases in all key performance indicators and fully meet the published forecast for 2021.
In the Annual Report 2021, the KATEK Group generated sales revenues of 540.1 million euros (previous year: 414.2 million euros). Group sales are thus within the communicated forecast corridor (535-560 million euros). The growth of 30.4%, which would have been around ten percent higher had it not been for the supply bottlenecks caused by the pandemic, was based on very positive developments in almost all the industries that KATEK serves with high-value electronics. The future markets of Tele-Care, eMobility/Charging, and Solar/Renewables developed particularly successfully, with sales increasing by a total of 64.8% and now accounting for a significant share of total sales of almost 21.1% with sales of over 100 million euros (114.0 million euros to be precise). The full order books indicate that the positive development will continue, albeit postponed. The book-to-bill ratio (2022 YTD: 1.25) hints at 25 % organic sales potential, without consideration of the difficult delivery situation.
Group EBITDA amounted to 28.7 million euros in the reporting year (previous year: 12.9 million euros). The EBITDA margin reached 5.3% (previous year: 3.1%). The operating result (EBITDA adjusted) rose from 20.8 million euros to 30.3 million euros, thus meeting the forecast figures published in the 2021 half-year report (27-33 million euros). With a further improved figure of 5.6 % (previous year: 5.0 %), the targeted increase in the operating margin (EBITDA margin adjusted) and thus the profitable growth path was consistently continued and also confirms the successful implementation of the value-enhancing acquisition strategy.
“The outstanding business result in these challenging times and against the market trend would not have been achieved without the great commitment of our strong KATEK team. For this, my thanks go on behalf of the entire management to our great TeamBlue,” says KATEK CEO & Co-Founder Rainer Koppitz.
The operating cash flow of the KATEK Group amounted to -21.6 million euros in the fiscal year 2021 (previous year: 25.8 million euros) and was largely characterized by pandemic-related increases in inventories. “By actively managing the increase, we aim to improve our production and delivery performance and safeguard our ability to deliver in the face of the ongoing materials crisis,” explains Rainer Koppitz. The equity ratio of 38.5% (previous year: 24.1%) and the cash and cash equivalents of EUR 42.2 million (previous year: EUR 35.5 million) as of
December 31, 2021 underline the solid financial resources with which the KATEK Group can operate.
Against the backdrop of the positive business development in 2021, KATEK’s management intends to seize the opportunities that present themselves and remains optimistic about its medium-term objectives, even in the still challenging market environment, and for the full year 2022. In order to exploit future growth potential, KATEK intends, as announced in the IPO prospectus, to use all available funds and future earnings to support operations and finance the Group’s growth, business development and market position, as well as to execute its strategic objectives. For 2022, the Management Board expects further growth in the KATEK Group’s revenue and operating result (EBITDA adjusted). In terms of sales, this means continuing to grow faster than the market and by at least 8% organically compared to 2021. With regard to the development of the operating result (EBITDA adjusted), KATEK would also like to further expand the operating margin despite the current challenges and expects to be able to increase the operating result (EBITDA adjusted) by at least 10 % compared to the previous year.
“We will continue to participate disproportionately in the strong growth of the electronics market. This is helped not only by our improved market position as the number two German and now number three European electronics service provider, but also by our strong position in the high-value electronics markets with the strongest growth in the future, such as eMobility, healthcare and electronics for solar solutions.”
The KATEK Group’s 2021 Annual Report will be available in the Investor Relations section of the company’s website www.katek-group.com.
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 2,800 people in Germany and Eastern Europe. CEO & Co-Founder is Rainer Koppitz and CFO is Dr. Johannes Fues. For more information about KATEK, please visit https://katek-group.com/.
KATEK Investor Relations
Head of Marketing & Communications
+ 49 160 970 88 676
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.
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