Key group figures for financial year 2023 / 2024 

• Group turnover: € 29,632 thousand 
• EBIT: € 2,514 thousand 
• Group earnings: € 1,250 thousand 
• Order backlog: € 70,935 thousand 
• Suggested dividend: € 0.15 per share 
• Sales target for the 2024 / 25 financial year: approx. € 46 million 
• Earnings target for the 2024 / 25 financial year: approx. € 3.5 million

Rödermark, 9 September 2024 – In the reporting period from 1 June 2023 to 31 May 2024 (financial year 2023 / 2024) with consolidated revenue of € 29,632 thousand (previous year € 30,081 thousand), CeoTronics AG once again achieved a very high level of revenue just below the record revenue of the previous year. 

Consolidated sales as at 31 May 2024 (financial year 2023 / 2024) were the second-highest in the company's history thanks to a 54 % share of sales in the last 4 months of the financial year. 

The consolidated order backlog as at 31 May 2024 changed by +838.1 % to a level of € 70.9 million compared to the previous year's high level. 

Incoming orders also developed extremely positively at +349.3 % to € 93 million. The binding / guaranteed minimum purchase quantities and orders relating to the large-scale SmG project account for “only” around 52.5 million of these figures. 

Group EBIT fell by 35.2 % to € 2,514 thousand in the current reporting period 2023 / 2024 compared to the previous year (€ 3,877 thousand). The EBIT margin fell accordingly by 4.4 percentage points to 8.5 % compared to the 2022 / 2023 financial year. 

Consolidated earnings before taxes totalled € 1,930 thousand in the 2023 / 2024 financial year (previous year: € 3,614 thousand), a decrease of 46.6 % (previous year: + 4.9 %). Consolidated earnings after taxes fell by € 1,279 thousand (= -50.6 %) from € 2,529 thousand to € 1,250 thousand. The return on sales changed from 8.4 % in the previous year to 4.2 %. 

The decline in earnings figures is due to the weak sales in the first eight months of the 2023 / 2024 financial year, which was characterised by the budget freezes / spending freezes of many German police forces and the German armed forces as well as delays in awarding contracts. 

In addition, in the 2023 / 2024 financial year, CeoTronics had increased personnel costs and a lower margin at CeoTronics S.L. in Spain due to an age-related / planned change in managing director, as the product mix sold was different than planned. At CeoTronics Inc. in the USA, personnel costs increased in order to strengthen sales.

The relatively small deviation in consolidated earnings after taxes from the January 2024 estimate of only around € 50,000 is the result of unexpected additional interest expenses to pre-finance future sales. 

Equity increased compared to the previous year (€ 17,241 thousand) by € 2,654 thousand to € 19,895 thousand. The equity ratio fell to 45.4 % (previous year: 58.7 %) due to an increase in liabilities to banks for the pre-financing of major orders. 

The gross cash flow for the 2023 / 2024 financial year amounted to € 1,997 thousand (previous year: € 3,627 thousand). 

Cash flow from operating activities in the 2023 / 2024 financial year changed to € -12,120 thousand (previous year: € 4,670 thousand) and is mainly the result of increased payments for inventories. 

CeoTronics shares started the 2023 / 2024 financial year at an initial price of € 4.01 and closed the past financial year on 31 May 2024 at a price of € 6.20 and a price gain of 54.61 %. 

In a short research analysis by BankM dated 24 April 2024, a fair value per share of € 8.05 was determined. 

We are pleased to be able to pay dividends again. As part of the appropriation of profits, the executive board of CeoTronics AG therefore proposes that the supervisory board propose to the Annual General Meeting that a dividend of € 0.15 per share be distributed from net retained profits and that the remaining net retained profits be carried forward to new account. 

“To summarise, it can be said that everything that could be influenced by CeoTronics was repeatedly optimised and the best possible results were achieved. The extremely high order volume and the major projects currently under way justify our optimistic outlook for the financial years ahead. From a current perspective, we are forecasting consolidated sales of around € 46 million in the 2024 / 2025 financial year, net profit for the year of around € 3.5 million and a continuation of the positive business performance in subsequent years. We are looking forward to our 2024 / 2025 financial year and our 40th anniversary in June 2025”, said Thomas H. Günther, Chief Executive Officer (CEO). 

About CeoTronics:

CeoTronics AG has established itself as a leading system provider of mobile digital wireless networks and devices for local mobile applications and of high-quality communication headsets and systems for professional use in the premium segment. With first-class consulting competence, customer closeness, best product quality in terms of function and processing, the use of the newest technologies and the flexibility to develop customer-specific system solutions, CeoTronics AG has positioned itself at the pinnacle of the quality and performance pyramid since it was founded in 1985.

CeoTronics products are mainly used in Europe and North America in demanding / difficult operating conditions encountered by fire departments, regional and national police forces, the military, energy suppliers and power plant operators, airlines / airports, and by various other industrial sectors. For example, in noisy environments, when wearing breathing apparatus, helmets or protective clothing, or when both hands need to remain free to do the work in question. The core competence of CeoTronics AG also includes concealed audio and video systems.

CeoTronics Aktiengesellschaft Audio • Video • Data Communication (ISIN: DE0005407407) is listed on the Basic Board of the Frankfurt Stock Exchange and also traded on Xetra.

For more informations:

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