KATEK continues strong growth, profitability and cash flow increase significantly

• Sales in the first quarter of 2023 increased by 26.4% compared to the same period of the previous year to EUR 200 million
• Reported EBITDA of EUR 6.6 million compared to EUR 5.1 million in Q1 2022
• Gross profit increased by 27.6% compared to the same period of the previous year to EUR 55.9 million
• Very strong growth in the areas of Solar & Renewables (52% compared to the same quarter in the previous year)
• Successful market launch of ghostONE: Orders won for an estimated 1.3 million units

Munich – KATEK SE publishes its figures for the first quarter and continues on its strong growth course: Group sales rose to EUR 200 million in Q1 2023 (+26.4%; Q1 2022: EUR 158.4 million), the operating result (EBITDA adjusted) is EUR 6.8 million. A third of the growth is due to the purchase of the Canadian company SigmaPoint, the future KATEK Canada. Two thirds of the growth can be attributed to organic growth from ongoing business. In particular, Solar & Renewables grew by 52% compared to the same quarter of the previous year and made a disproportionately large contribution to the success.

Compared to the same quarter of the previous year, the KATEK Group’s EBITDA rose from EUR 5.1 million to EUR 6.6 million. Gross profit increased by around 27.6% to EUR 55.9 million. The margin in the first quarter already improved by 1.2 percentage points compared to from 26.4% to 27.6% in the 2022 financial year. The reason for this is the large number of operational measures introduced, such as price enforcement with customers that are now reflected in the numbers. KATEK was also able to close the period with positive results and thus achieve a significantly better consolidated result than in the same period of the previous year.

The development of working capital is just as positive: KATEK was able to continue the reduction in inventories that had begun in Q4 2022 in the first quarter of 2023 and generate a positive operating cash flow of around EUR 9.7 million. These underlying effects are expected to intensify further over the course of the financial year.

“We are pleased with the positive result and that we can continue our strong growth. The figures are a very good start for the 2023 financial year and show that our strategic and operational measures are having the desired effect to achieve our goals for 2023,” says Rainer Koppitz, CEO & Co-Founder of KATEK SE.

KATEK gains further market share in eCharging

With its 100% subsidiary eSystems, KATEK was able to secure important market shares in the eCharging sector. With the white-label wallbox ghostONE, eSystems was able to win three major customers in the automotive sector in the last four months alone – this corresponds to an expected number of over 1.3 million wallboxes. KATEK’s goal is to play a leading role in the eCharging segment. In the next step, the company will also focus on the non-European market.

“Intelligent charging boxes designed according to ISO 15118 with full connectivity for the home and semi-public area should account for 80% of the market by 2035. The strong demand for the ghostONE smart charging solution confirms that our ‘one-stop-shop’ strategy is exactly the right offering to secure significant market share,” says Rainer Koppitz, CEO & Co-Founder of KATEK SE.

M&A focus is on Charging, Medical Alarm Systems and Renewables

KATEK concluded a purchase agreement for Nextek Inc. in Madison, USA, as early as 2022. The US authorities are currently deciding on the takeover. Closing is expected at the end of Q2 or beginning of Q3 2023. Together with the previously acquired KATEK Canada (SigmaPoint), KATEK now covers the North American market. This clearly shows that European customers also welcome KATEK’s local-for-local approach. In addition, there is also a strong trend in Canada and the USA to re-locate production from China back to North America. KATEK plans to exploit this additional market potential for itself. Further acquisitions are currently under consideration, especially in KATEK’s growth segments Charging, Medical Alarm Systems and Renewables.

Management confident of reaching the 2023 target

The strong figures at the beginning of the year allow the management to look positively to the coming months and quarters. Business development is in line with the guidance published at the end of the year. In 2023 and 2024, KATEK is also pursuing the goal of making greater use of the group’s efficiency potential and thus reacting dynamically to developments in the supply chains and procurement markets.