• Group sales T€ 10,833
• EBIT T€ -690
• Consolidated result n. Net of tax T€ -741
• Higher order backlog (+4.7%) and incoming orders (+41.2%)
• Sales and profit target for the current financial year 2023/24 confirmed

In the reporting period from June 1 to November 30, 2023, CeoTronics AG recorded consolidated revenue of €10,833 thousand (previous year: €15,395 thousand) as a result of the weak order backlog as at May 31, 2023 and the very late increase in incoming orders. Corresponding to the sales trend and due to significantly higher personnel costs and inflation-related cost increases, the earnings figures in the first half of the 2023/2024 financial year deteriorated compared to the record figures in the same period of the previous year. Consolidated EBIT deteriorated to € -690 thousand (previous year: € 2,675 thousand), consolidated earnings before taxes fell to € -839 thousand (previous year: € 2,577 thousand) and consolidated earnings after taxes amounted to € -741 thousand (previous year: € 1,898 thousand). Furthermore, within other operating income, income from currency translation decreased to € 7 thousand (previous year € 70 thousand), from the reversal of provisions to € 61 thousand (previous year € 357 thousand) and from subsidies to € 0 thousand (previous year € 69 thousand). Other operating expenses include the costs of the capital increase of € 92 thousand for the first time and the negative effects from currency losses increased by € 69 thousand. The Group’s incoming orders and order backlog developed positively late in the first half of the 2023/2024 financial year. Incoming orders amounted to € 18,502 thousand (previous year: € 13,105 thousand), an increase of 41.2%. The order backlog increased by 4.7% to € 15,252 thousand (previous year: € 14,562 thousand). Gross cash flow amounted to € -897 thousand in the first half of the 2023/2024 financial year (previous year: € 1,740 thousand). Due to the negative profit after taxes and the lower changes in provisions, the very positive gross cash flow of the previous year could not be achieved. The Group’s equity increased by € 674 thousand compared to May 31, 2023, from € 17,241 thousand to € 17,915 thousand. The equity ratio as at November 30, 2023 decreased by 11.1 percentage points (as at May 31, 2023) from 58.7% to 47.6%. The first capital increase since the IPO in 1998 increased subscribed equity and the capital reserve by a total of € 2,359 thousand in November 2023. The dividend payment for the 2022 / 2023 financial year at the beginning of November reduced equity by € 990 thousand. Due to the necessary massive stockpiling of inventories (largely financed by borrowed capital), the equity ratio fell accordingly. At 135, the number of employees in the Group as at November 30, 2023 was 7 people higher than in the previous year. In terms of full-time equivalents (FTE), the figure was 127 (previous year: 122).

“Despite the business development in the first six months of the 2023/2024 financial year, we can continue to pursue our current Group sales target of around € 28 million to € 29 million due to the currently high order backlog and the deliveries planned as a result, as well as the options from the order outlook. This should result in a clearly positive annual result of around € 1.3 million. According to our estimates, incoming orders and orders on hand as at May 31, 2024 should be significantly higher than the comparative figures for previous years and the sales and earnings outlook for the following financial years should be very positive. With this assumed result for the 2023 / 2024 financial year and positive general conditions for the 2024/2025 financial year, CeoTronics AG would again be eligible for dividends in November 2024,” said Chairman of the Management Board and CEO Thomas H. Günther. CeoTronics AG Audio Video Data Communication (ISIN: DE0005407407), Adam-Opel-Straße 6, 63322 Rödermark, Germany, is listed on the Basic Board and is admitted to Xetra trading.

Further information:

CeoTronics AG Audio Video Data Communication
Investor Relations, Adam-Opel-Straße 6, 63322 Rödermark, Germany
E-mail: vorstand@ceotronics.com, Internet: www.ceotronics.com