KATEK SE publishes preliminary figures for financial year 2023
Successful business development: KATEK continues to grow strongly in 2023, realizes strongest year in the company’s history in terms of operating result (EBITDA) and meets all forecasts
- Group sales increased by around 15% compared to the previous year to EUR 782.8 million
- Reported EBITDA increased by over 80% to over EUR 41.9 million
- Consistent working capital management with organic reduction in inventories leads to corresponding positive effect
- Publication of annual report rescheduled in the context of the Kontron transaction
- Cautious outlook in 2024 due to economic environment factors, but still on course for growth
Munich – KATEK SE publishes preliminary figures for the successfully completed financial year 2023. The publication of the final, audited figures is planned for April 30, 2024. According to preliminary figures, the company continued its strong growth in the 2023 financial year and achieved a new record result. With sales growth of around 15% to EUR 782.8 million and an increase in reported EBITDA of more than 80% to over EUR 41.9 million, KATEK has expanded its position in the market and impressively realized the turnaround in earnings.
The significant improvement in the gross margin in the second half of 2023 underlines the effectiveness of the strategic measures. The adjusted operating result (EBITDA adj.) is within the forecast guidance, which demonstrates the successful implementation of the corporate strategy and the ability to adapt in a dynamic market environment.
Consistent working capital management led to an organic reduction in inventories of just under 18% with simultaneous growth, demonstrating the company’s strong performance in this area.
Particularly noteworthy is the strong sales growth in the solar sector of over 32% in 2023, which confirms KATEK as a leading provider in this area. In addition, all preparations have been made in the Charging division for the expected growth, which underlines KATEK’s ability to successfully place innovative products on the market within a very short space of time.
In the first few months of the 2024 financial year, KATEK is aware of economic uncertainties in the business environment. These are indirectly reflected in the changed demand and call-off behavior of customers. On this basis, KATEK’s management is currently assuming that growth expectations will be reduced by EUR 15 million. In addition, existing inventories are being reviewed as necessary in connection with the new forecasts; this risk is currently valued at EUR 10 million.
The acquisition of around 59.4% of KATEK shares indirectly by Kontron AG was successfully completed at the end of February 2024. As a result of the change of control and the resulting urgent and diverse tasks and integration of limited capacities in the company, KATEK has recently decided to align the final publication of the business figures with the legal requirements and to update the financial calendar as published. All figures mentioned are subject to the proviso that the audit of the consolidated financial statements has not yet been completed.
KATEK and Kontron: Strong together for the future
Through the strategic partnership with Kontron AG, a leading company in the field of Internet-of-Things (IoT), KATEK is excellently positioned to continue its strong growth and realize its full potential in a unified group of companies. Following the acquisition of the KATEK shares by Kontron AG, KATEK continues its success story with Kontron. The focus on key industries such as electromobility and renewable energies, coupled with an impressive international expansion and the development into a key driver of the electronics industry in Europe, especially in the GreenTec sector, forms the basis of this synergy. The connection with Kontron opens up new growth opportunities for KATEK in promising markets through the integration of high-quality electronic systems and products, including software.
