Results Interim Reports
- 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 |
Segment overview
in EUR million | 2022* | 2021** | 2020 | 2019 | 2018 |
---|---|---|---|---|---|
Construction/Infrastructure | |||||
Revenue with external third parties | 515.2 | 451.6 | 384.0 | 388.9 | 358.7 |
EBITDA | 93.1 | 89.7 | 79.9 | 77.0 | 60.1 |
Depreciation/amortization | -20.8 | -19.1 | -15.4 | -14.0 | -10.1 |
EBIT before impairment | 72.3 | 70.6 | 64.5 | 63.0 | 50.0 |
EBIT margin before impairment in % | 14.0 | 15.6 | 16.8 | 16.2 | 13.9 |
Impairment | -12.7 | 0.0 | 0.0 | 0.0 | 0.0 |
EBIT | 59.6 | 70.6 | 64.5 | 63.0 | 50.0 |
EBIT margin (in %) | 11.6 | 15.6 | 16.8 | 16.2 | 13.9 |
Investments | 12.3 | 48.6 | 18.1 | 18.8 | 25.5 |
Employees | 2,343 | 2,173 | 1,898 | 1,874 | 1,839 |
Automotive Technology | |||||
Revenue with external third parties | 142.7 | 173.8 | 296.2 | 350.3 | 391.0 |
EBITDA | 2.5 | 9.3 | 26.7 | 9.0 | 28.4 |
Depreciation/amortization | -10.4 | -13.8 | -27.3 | -27.5 | -23.4 |
EBIT before impairment | -7.9 | -4.5 | -54.0 | -18.5 | 5.0 |
EBIT margin before impairment in % | -5.5 | -2.6 | -20.1 | -5.3 | 1.3 |
Impairment | 0.0 | -2.4 | -33.8 | 0.0 | -9.5 |
EBIT | -7.9 | -6.9 | -87.8 | -35.8 | -4.5 |
EBIT margin (in %) | -5.5 | -4.0 | -32.6 | -10.2 | -1.2 |
Investments | 10.5 | 5.2 | 18.0 | 22.8 | 29.5 |
Employees | 2,822 | 3,277 | 3,202 | 3,360 | 3,524 |
Engineering | |||||
Revenue with external third parties | 531.7 | 438.7 | 370.0 | 434.6 | 387.0 |
EBITDA | 90.8 | 79.2 | 53.9 | 73.0 | 64.2 |
Depreciation/amortization | -26.1 | -22.7 | -20.2 | -18.4 | -12.2 |
EBIT before impairment | 64.7 | 56.5 | 33.7 | 54.6 | 52.0 |
EBIT margin before impairment in % | 12.2 | 12.9 | 9.1 | 12.6 | 13.4 |
Impairment | -13.8 | 0.0 | -2.3 | 0.0 | 0.0 |
EBIT | 50.9 | 56.5 | 31.4 | 54.6 | 52.0 |
EBIT margin (in %) | 9.6 | 12.9 | 8.5 | 12.6 | 13.4 |
Investments | 67.9 | 40.9 | 4.1 | 30.9 | 12.0 |
Employees | 2,418 | 2,289 | 2,243 | 2,180 | 2,027 |
Medical Engineering/Life Science | |||||
Revenue with external third parties | 153.6 | 148.7 | 142.1 | 159.7 | 154.3 |
EBITDA | 19.0 | 22.9 | 20.4 | 27.9 | 24.7 |
Depreciation/amortization | -10.4 | -10.9 | -10.2 | -9.3 | -7.4 |
EBIT before impairment | 8.6 | 12.0 | 10.2 | 18.6 | 17.3 |
EBIT margin before impairment in % | 5.6 | 8.1 | 7.2 | 11.6 | 11.2 |
Impairment | -13.2 | 0.0 | 0.0 | 0.0 | 0.0 |
EBIT | -4.6 | 12.0 | 10.2 | 18.6 | 17.3 |
EBIT margin (in %) | -3.0 | 8.1 | 7.2 | 11.6 | 11.2 |
Investments | 9.7 | 11.6 | 6.2 | 4.9 | 8.4 |
Employees | 1,588 | 1,613 | 1,646 | 1,718 | 1,687 |
Metals Technology | |||||
Revenue with external third parties | 460.3 | 420.4 | 393.6 | 409.2 | 420.0 |
EBITDA | 68.1 | 58.0 | 36.9 | 46.1 | 48.5 |
Depreciation/amortization | -15.8 | -15.6 | -18.0 | -20.3 | -13.6 |
EBIT before impairment | 52.3 | 42.4 | 18.9 | 25.8 | 34.9 |
EBIT margin before impairment in % | 11.4 | 10.1 | 4.8 | 6.3 | 8.3 |
Impairment | -1.6 | 0.0 | -4.5 | 0.0 | -6.6 |
EBIT | 50.7 | 42.4 | 14.4 | 25.8 | 28.3 |
EBIT margin (in %) | 11.0 | 10.1 | 3.7 | 6.3 | 6.7 |
Investments | 12.6 | 14.0 | 6.9 | 25.1 | 26.3 |
Employees | 1,496 | 1,520 | 1,616 | 1,687 | 1,602 |
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 Group6 | 0.80 | 1.05 | 0.80 | 0.80 | 1.50 |
Dividend yield (in %)6 | 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 |