Factsheet

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 absolute	Difference 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 absolute	Difference 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 absolute	Difference 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 factsheet

Statement 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

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

Contact Person

Dafne Sanac

Investor Relations

+49 (0)2204/40 00-32 investor.relations@indus.de voting-rights@indus.de

Results Interim Reports

Key figures

Segment overview

Key figures

Segment overview

Key figures

Segment overview

Results fiscal year 2022

Statement of income

Segment overview

Statement of Cash Flow

Statement of Financial Position

Investments and depreciation/amortization

Share

Dafne Sanac

Data protection is important to us