Bertrandt AG: Prel. key figures for Q2/H1 2023/24; total revenues & EBIT deviate from market expectations, forecast 2023/24 confirmed

Ehningen (pta011/02.05.2024/09:45 UTC+2)

The Management Board of Bertrandt AG today noted a deviation of the preliminary, unaudited figures for the second quarter of fiscal 2023/2024 and the first half of fiscal 2023/2024 compared to market expectations.

• The Bertrandt Group's total revenues amounted to around EUR 318.5 million in the second quarter of 2023/2024 (consensus*: EUR 311 million, previous year EUR 292.7 million). In the first half of 2023/2024, total revenues amounted to around EUR 626.9 million (consensus: EUR 619 million, previous year EUR 573.1 million).
• EBIT amounted to around EUR 8.5 million in the second quarter of 2023/2024 (consensus: EUR 12.1 million, previous year: EUR 12.5 million) and around EUR 21.9 million in the first half of 2023/2024 (consensus: EUR 25.6 million, previous year: EUR 24.0 million).

Since the beginning of the second quarter of 2023/2024, we have seen a reduction in capacity demand from our customers, which has led to temporarily lower than expected capacity utilization in the Group. In addition, total one-off effects to the amount of EUR -3.3 million were incurred in the second quarter due to asset write-downs linked to the deterioration in a customer's solvency and due to utilization of an obligation previously classified as a contingent liability. The cumulation of all these effects lead to the deviation from market expectations noted today.

At the end of the first half year 2023/2024 free cashflow reached around EUR 40 million (previous year EUR 10.2 million).

Bertrandt intends to counter the current market trends with systematic measures and expects capacity call-offs to normalize in the further course of the fiscal year. Against this backdrop, the Management Board confirms the forecast** for fiscal 2023/2024, which was last published in summary form on page 4 of the quarterly statement for the first quarter of 2023/2024 on February 14, 2024.

The full half-year report 2023/2024, which will also contain the quarterly figures for the second quarter, will be published on May 15, 2024.

*Consensus: Analyst consensus compiled by the company as at May 2, 2024, which is available at the following link: https://www.bertrandt.com/en/company/investor-relations/financial-data

** Forecast: The forecast report for the 2023/2024 financial year was published with the 2022/2023 Annual Report on December 14, 2023 on pages 118 to 121. This is available at the following link: https://www.bertrandt.com/fileadmin/files/files/00_Unternehmen/01_Investor_Relations/03_Finanzberichte/GJ_22-23/annual_report_fy_2022-2023_bertrandt.pdf

The definitions of "total revenues", "EBIT" and "Free Cashflow" are presented on page 221 of the Bertrandt Annual Report 2022/2023.

(end)

Emitter:	Bertrandt AG Birkensee 1 71139 Ehningen Germany
Contact Person:	Björn Voss
Phone:	0703465613076
E-Mail:	bjoern.voss@bertrandt.com
Website:	www.bertrandt.com
ISIN(s):	DE0005232805 (Share)
Stock Exchange(s):	Regulated Market in Frankfurt; Free Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate