Results Interim Reports
- Q3 2023
Key figures
in EUR million Q3 2023 Q3 2022 Sales 459.7 458.8 EBITDA 72.6 71.4 EBIT 32.1 10.3 Group net income for the year (earnings after taxes) 21.7 -50.6 Earnings per share from continuing operations (in EUR) 0.87 -0.03 Segment overview
in EUR million Q3 2023 Q3 2022 Difference
absoluteDifference
in %Engineering Revenue with external third parties 153.4 144.2 9.2 6.4 EBITDA 26.5 23.1 3.4 14.7 Depreciation/amortization -7.9 -8.1 0.2 2.5 EBIT before impairment 18.6 15.0 3.6 24.0 EBIT margin before impairment in % 12.1 10.4 1.7 pp – Impairment -4.8 -13.8 9.0 65.2 EBIT 13.8 -1.2 12.6 >100 EBIT margin (in %) 9.0 0.8 8.2 pp – Investments 2.4 2.8 -0.4 -14.3 Employees 2,846 2,802 44 1.6 Infrastructure Revenue with external third parties 153.4 152.5 0.9 0.6 EBITDA 25.8 26.1 -0.3 -1.1 Depreciation/amortization -6.5 -6.0 -0.5 -8.3 EBIT before impairment 19.3 20.1 -0.8 -4.0 EBIT margin before impairment in % 12.6 13.2 -0.6 pp – Impairment -7.5 -12.7 5.2 40.9 EBIT 11.8 7.4 4.4 59.5 EBIT margin (in %) 7.7 4.9 2.8 pp – Investments 11.0 4.5 6.5 >100 Employees 2,934 2.874 60 2.1 Materials Revenue with external third parties 152.8 162.1 -9.3 -5.7 EBITDA 26.0 25.5 0.5 2.0 Depreciation/amortization -8.2 -6.9 -1.3 -18.8 EBIT before impairment 17.8 18.6 -0.8 -4.3 EBIT margin before impairment in % 11.6 11.5 0.1 pp – Impairment -5.3 -13.3 8.0 60.2 EBIT 12.5 5.3 7.2 >100 EBIT margin (in %) 8.2 3.3 4.9 pp – Investments 5.2 4.1 1.1 26.8 Employees 3,105 3,137 -32.0 -1.0 - 9M 2023
Key figures
in EUR million 9M 2023 9M 2022 Sales 1,363.0 1,345.1 EBITDA 200.6 200.1 EBIT 116.9 97.8 EBIT margin (in %) 8.6 7.3 Earnings after taxes 43.4 -29.9 Earnings per share from continuing operations (in EUR) 2.63 2.08 Operating cash flow 128.7 36.2 Cash flow from operating activities 114.7 22..2 Cash flow from investing activities -31.5 -72.3 Cash flow from financing activities -41.2 101.4 Free cash flow 106.1 22.2 in EUR million September 30, 2023 December 31, 2022 Total assets 1,887.6 1,889.9 Equity 706.5 685.2 Equity ratio (in %) 37.4 36.3 Working capital 538.3 496.7 Net debt 569.3 593.5 Cash and cash equivalents 150.7 127.8 Portfolio companies
(number as of reporting date)43 45 Segment overview
in EUR million 9M 2023 9M 2022 Difference
absoluteDifference
in %Engineering Revenue with external third parties 434.2 414.0 20..2 4.9 EBITDA 68.3 62.7 5.6 8.9 Depreciation/amortization -23.8 -22.9 -0.9 -3.9 EBIT before impairment 44.5 39.8 4.7 11.8 EBIT margin before impairment in % 10.2 9.6 0.6 pp – Impairment -4.8 -13.8 9.0 65.2 EBIT 39.7 26.0 13.7 52.7 EBIT margin (in %) 9.1 6.3 2.8 pp – Investments 7.2 66.9 -59.7 -89.2 Employees 2,832 2,755 77 2.8 Infrastructure Revenue with external third parties 444.7 446.5 -1.8 -0.4 EBITDA 63.5 73.6 -10.1 -13.7 Depreciation/amortization -19.1 -18.1 -1.0 -5.5 EBIT before impairment 44.4 55.5 -11.1 -20.0 EBIT margin before impairment in % 10.0 12.4 -2.4 pp – Impairment -7.5 -12.4 5.2 40.9 EBIT 36.9 42.8 -5.9 -13.9 EBIT margin (in %) 8.3 9.6 -1.3 pp – Investments 26.8 10.2 16.6 >100 Employees 2,943 2,866 77 2.7 Materials Revenue with external third parties 484.4 484.4 0.0 0.0 EBITDA 78.2 72.4 5.8 8.0 Depreciation/amortization -22.4 -20.7 -1.7 -8.2 EBIT before impairment 55.8 51.7 4.1 7.9 EBIT margin before impairment in % 11.5 10.7 0.8 pp – Impairment -5.3 -13.3 8.0 60.2 EBIT 50.3 38.4 12.1 31.5 EBIT margin (in %) 10.4 7.9 2.5 pp – Investments 11.3 10.1 1.2 11.9 Employees 3,122 3,148 -26.0 -0.8 - Q2 2023
Key figures
in EUR million Q2 2023 Q2 2022 Sales 453.3 469.9 EBITDA 62.0 67.2 EBIT 40.1 46.0 Group net income for the year (earnings after taxes) 5.7 16.1 Earnings per share from continuing operations (in EUR) 0.83 1.16 Segment overview
in EUR million Q2 2023 Q2 2022 Difference
absoluteDifference
in %Engineering Revenue with external third parties 138.6 149.4 -10.8 -7.2 EBITDA 18.4 18.5 -0.1 -0.5 Depreciation/amortization -8.1 -7.9 -0.2 -2.5 EBIT 10.3 10.6 -0.3 -2.8 EBIT margin (in %) 7.4 7.0 0.4 pp – Investments 3.0 61.8 -58.8 -95.1 Employees 2,832 2,785 47 1.7 Infrastructure Revenue with external third parties 149.8 154.5 -4.7 -3.0 EBITDA 20.9 25.4 -4.5 -17.7 Depreciation/amortization -6.5 -6.1 -0.4 -6.6 EBIT 14.4 19.3 -4.9 -25.4 EBIT margin (in %) 9.6 12.5 -2.9 pp – Investments 3.2 3.6 -0.4 -11.1 Employees 2,963 2,865 98 3.4 Materials Revenue with external third parties 164.7 165.8 -1.1 -0.7 EBITDA 25.1 25.9 -0.8 -3.1 Depreciation/amortization -7.1 -6.8 -0.3 -4.4 EBIT 18.0 19.1 -1.1 -5.8 EBIT margin (in %) 10.9 11.5 -0.6 pp – Investments 3.4 3.5 -0.1 -2.9 Employees 3,121 3,159 -38 -1.2 - H1 2023
Key figures
in EUR million H1 2023 H1 2022 Sales 904.1 886.3 EBITDA 128.1 61.4 EBIT 84.9 87.4 EBIT margin (in %) 9.4 9.9 Group net income for the year (earnings after taxes) 21.7 20.7 Earnings per share from continuing operations (in EUR) 1.76 2.10 Operating cash flow 39.2 -15.1 Cash flow from operating activities 28.4 -25.9 Cash flow from investing activities -12.9 -61.3 Cash flow from financing activities -9.2 103.0 Free cash flow 35.2 -17.6 in EUR million June 30, 2023 December 31, 2022 Total assets 1,917.1 1,889.9 Equity 681.9 685.2 Equity ratio (in %) 35.6 36.3 Working capital 558.0 496.7 Net debt 624.0 593.5 Cash and cash equivalents 118.9 127.8 Portfolio companies
(number as of reporting date)45 45 Segment overview
in EUR million H1 2023 H1 2022 Difference
absoluteDifference
in %Engineering Revenue with external third parties 280.7 269.8 10.9 4.0 EBITDA 41.8 39.6 2.2 5.6 Depreciation/amortization -15.9 -14.8 -1.1 -7.4 EBIT 25.9 24.8 1.1 4.4 EBIT margin (in %) 9.2 9.2 0.0 pp – Investments 4.8 64.0 -59.2 -92.5 Employees 2,824 2,732 92 3.3 Infrastructure Revenue with external third parties 291.3 294.0 -2.7 -0.9 EBITDA 37.8 47.5 -9.7 -20.4 Depreciation/amortization -12.7 -12.1 -0.6 -5.0 EBIT 25.1 35.4 -10.3 -29.1 EBIT margin (in %) 8.6 12.0 -3.4 pp – Investments 15.8 5.7 10.1 >100 Employees 2,947 2,862 85 3.0 Materials Revenue with external third parties 331.5 322.3 9.2 2.9 EBITDA 52.3 46.9 5.4 11.5 Depreciation/amortization -14.2 -13.8 -0.4 -2.9 EBIT 38.1 33.1 5.0 15.1 EBIT margin (in %) 11.5 10.3 1.2 pp – Investments 6.1 6.0 0.1 1.7 Employees 3,131 3,154 -23 -0.7 - Q1 2023
Key figures
in EUR million Q1 2023 Q1 2022 Sales 450.8 416.5 EBITDA 66.1 61.4 EBIT 44.8 41.4 EBIT margin (in %) 9.9 9.9 Group net income for the year
(earnings after taxes)16.0 4.6 Earnings per share (in EUR) 0.93 0.94 Operating cash flow 1.5 -17.8 Cash flow from operating activities -1.0 -20.1 Cash flow from investing activities -2.9 2.9 Cash flow from financing activities -1.2 28.0 in EUR million March 31, 2023 December 31, 2022 Total assets 1,920.6 1,889.9 Equity 669.1 685.2 Equity ratio (in %) 36.4 36.3 Working capital 536.8 496.7 Net debt 610.5 593.5 Cash and cash equivalents 116.6 127.8 Portfolio companies
(number as of reporting date)45 45 Segment overview
in EUR million Q1 2023 Q1 2022 Difference
absoluteDifference
in %Engineering Revenue with external third parties 142.1 120.4 21.7 18.0 EBITDA 23.4 21.1 2.3 10.9 Depreciation/amortization -7.8 -6.9 -0.9 -13.0 EBIT 15.6 14.2 1.4 9.9 EBIT margin (in %) 11.0 11.8 -0.8 pp – Investments 1.8 2.3 -0.5 -21.7 Employees 2,817 2,679 138 5.2 Infrastructure Revenue with external third parties 141.5 139.5 2.0 1.4 EBITDA 16.8 22.1 -5.3 -24.0 Depreciation/amortization -6.1 -6.0 -0.1 -1.7 EBIT 10.7 16.1 -5.4 -33.5 EBIT margin (in %) 7.6 11.5 -4.0 pp – Investments 12.6 2.1 10.5 >100 Employees 2,931 2,859 72 2.5 Materials Revenue with external third parties 166.8 156.5 10.3 6.6 EBITDA 27.2 21.0 6.2 29.5 Depreciation/amortization -7.1 -7.0 -0.1 -1.4 EBIT 20.1 14.0 6.1 43.6 EBIT margin (in %) 12.1 8.9 3.1 pp – Investments 2.7 2.5 0.2 8.0 Employees 3,140 3,148 -8.0 -0.2
Results fiscal year 2022
Generate factsheetStatement of income
in EUR million | 2022* | 2021** | 2020 | 2019 | 2018 |
---|---|---|---|---|---|
Sales | 1,804.1 | 1,633.5 | 1,558.6 | 1,742.8 | 1,710.8 |
of which domestic | 896.9 | 837.6 | 801.8 | 890.2 | 878.9 |
of which domestic (in %) | 49.7 | 51.3 | 51.4 | 51.1 | 51.4 |
of which abroad | 907.2 | 795.8 | 756.8 | 852.6 | 831.9 |
of which abroad (in %) | 50.3 | 48.7 | 48.6 | 48.9 | 48.6 |
EBITDA | 262.5 | 251.2 | 157.7 | 225.7 | 218.1 |
EBIT before impairments | 176.5 | 168.1 | 65.7 | 135.2 | 150.5 |
EBIT margin before impairments (in %) | 9.8 | 10.3 | 4.2 | 7.8 | 8.8 |
Impairments1 | 42.8 | 2.5 | 17.3 | 17.3 | 16.1 |
EBIT | 133.7 | 165.6 | 25.1 | 117.9 | 134.4 |
EBIT margin (in %) | 7.4 | 10.1 | 1.6 | 6.8 | 7.9 |
EBT | 115.9 | 149.7 | 9.6 | 99.0 | 114.7 |
Group net income for the year | -51.0 | 47.6 | -26.9 | 60.1 | 71.2 |
Statement of Cash Flow
in EUR million | 2022* | 2021** | 2020 | 2019 | 2018 |
---|---|---|---|---|---|
Operating cash flow | 137.1 | 177.7 | 174.4 | 167.7 | 96.0 |
Cash flow from operating activities | 116.3 | 158.3 | 155.2 | 147.3 | 74.7 |
Cash flow from investing activities | -94.4 | -106.0 | -52.4 | -76.2 | -98.3 |
Cash flow from financing activties | 56.2 | -40.8 | -42.0 | -46.1 | -2.8 |
Cash and cash equivalents | 127.8 | 136.3 | 194.7 | 135.1 | 109.6 |
Statement of Financial Position
in EUR million | 31.12.2022 | 31.12.2021 | 31.12.2020 | 31.12.2019 | 31.12.2018 |
---|---|---|---|---|---|
Total assets | 1,889.9 | 1,857.4 | 1,728.8 | 1,808.2 | 1,720.0 |
Equity | 685.2 | 787.5 | 676.4 | 727.7 | 709.8 |
Equity ratio (in %) | 36.3 | 42.4 | 39.1 | 40.2 | 41.3 |
Equity ratio2 (in %) | -7.4 | 6.0 | -4.0 | 8.3 | 10.0 |
Net debt3 | 593.5 | 504.2 | 518.9 | 546.2 | 482.8 |
Net debt/EBITDA | 2.3 | 2.0 | 3.3 | 2.4 | 2.2 |
Working capital4 | 496.7 | 443.9 | 410.5 | 478.3 | 472.2 |
Gearing5 | 0.9 | 0.6 | 0.8 | 0.8 | 0.7 |
Investments and depreciation/amortization
in EUR million | 2022* | 2021** | 2020 | 2019 | 2018 |
---|---|---|---|---|---|
Investments | 111.3 | 119.9 | 53.5 | 107.5 | 102.4 |
of which in company acquisitions | 58.8 | 67.3 | 0.0 | 29.2 | 11.5 |
of which in intangible assets | 8.0 | 7.0 | 8.4 | 11.0 | 12.0 |
of which in property, plant and equipment | 46.5 | 45.6 | 44.1 | 67.3 | 78.9 |
Share
in EUR | 2022 | 2021 | 2020 | 2019 | 2018 |
---|---|---|---|---|---|
Average number of shares | 26,895,559 | 26,332,863 | 24,450,509 | 24,450,509 | 24,450,509 |
Market capitalization (in EUR million) | 590.4 | 880.8 | 784.9 | 949.9 | 953.6 |
Year-end price (XETRA) | 21.95 | 32.75 | 32.10 | 38.85 | 39.00 |
Year-high closing price (XETRA) | 34.35 | 37.30 | 40.45 | 47.45 | 66.00 |
Year-low closing price (XETRA) | 17.44 | 29.40 | 21.40 | 31.45 | 37.65 |
Earnings per share Group | 2.68 | 3.68 | -1.10 | 2.43 | 2.90 |
Cash flow per share Group | 4.33 | 6.01 | 6.35 | 6.02 | 3.05 |
Dividend per share Group | 0.80 | 1.05 | 0.80 | 0.80 | 1.50 |
Dividend yield (in %) | 3.6 | 3.2 | 2.5 | 2.1 | 3.8 |
Dividend payout ratio (in %) | 79.0 | 51.9 | 60.0 | 24.6 | 48.1 |
2022* | 2021** | 2020 | 2019 | 2018 | |
---|---|---|---|---|---|
Portfolio companies (number as of 31.12.) | 45 | 44 | 46 | 47 | 45 |
Employees within the Group (on average) | 8,837 | 9,063 | 10,644 | 10,856 | 10,714 |