Quarterly figures of Kontron AG $KTN (-1.58%) 👌

• 48.6% EBITDA growth in Q2 2024: EUR 46.5 million compared to EUR 31.3 million in Q2 2023
• 52.9% revenue growth in Q2 2024: EUR 423.8 million compared to EUR 277.3 million in Q2 2023
• Record gross margin of 42.5% in Q2 2024 (FY 2023: 38.0%)
• Order backlog climbs by EUR 279 million to a record EUR 1,965 million in the first half of the year
• Source:

Linz, 07.08.2024Kontron AG, a leading global provider of IoT technology, today announced its results for the second quarter of 2024, with the Katek Group consolidated for all three months for the first time.

Revenue increased by 52.9% to EUR 423.8 million in Q2 2024 (Q2 2023: EUR 277.3 million), of which EUR 134.5 million came from Katek. EBITDA reached a record level of EUR 46.5 million, 48.6% more than in Q2 2023 (EUR 33.1 million). Consolidated net income rose to EUR 21.6 million (Q2 2023: EUR 19.0 million) despite EUR 2.2 million in additional PPA amortization from the Katek acquisition. Excluding PPA amortization, the net result amounted to EUR 23.8 million. Operating cash flow amounted to EUR - 6.1 million in Q2, or EUR 17.0 million after adjustment for repaid factoring receivables. The good results are based on a record gross margin of 42.5% (FY 2023: 38.0%) as a reflection of the continuously increasing technology share in Kontron's IoT products.

The order backlog increased by EUR 279 million to a record EUR 1,965 million in H1 2024. In Q2 2024 alone, Kontron received EUR 548 million in orders, which corresponds to a book-to-bill of 1.29.

Kontron thus remains on track for a successful 2024 financial year. While consolidated earnings in the IoT segment amounted to EUR 31 million before the strategic realignment in 2021 (including the IT activities, which have since been sold, at EUR 49 million), this was already increased to EUR 76 million in the 2023 financial year as a result of the realignment as an IoT provider.

For the current 2024 financial year, Kontron continues to forecast an EBITDA of EUR 190 million with an adjusted net profit of around EUR 100 million. "The development of the still young IoT market continues to make great strides," says Hannes Niederhauser, CEO of Kontron AG. "Today, Kontron has the most comprehensive IoT technology portfolio, with which we can optimally serve the future topics of Artificial Intelligence and Security - NIS2 Standard. Based on this, our growth will continue in the coming years."

Source: finanzen.net