BERTRANDT AG Report on the 1st half
1 October 2022 until 31 March 2023
2O22
2O23
The first half year at glance
INCOME STATEMENT, CASH FLOW STATEMENT, BALANCE SHEET, SHARE, EMPLOYEES
06 Group Management Report
18 Interim Consolidated Financial Statements
24 Condensed Consolidated Notes for the First Half of Fiscal 2022/2023
- Quarterly Survey
- Financial calendar
- Roadshows and Conferences
- Credits
IFRS
Income statement
Total revenues (EUR million)
EBIT (EUR million)
Profit from ordinary activities (EUR million)
Post-tax earnings (EUR million)
Cash flow statement
Cash flow from operating activities (EUR million)
Cash flow from investing activities (EUR million)
Free cash flow (EUR million)
Capital spending (EUR million)
Balance sheet
Equity (EUR million)
Equity ratio (%)
Total assets (EUR million)
Share
Earnings per share (EUR)
Share price on 31 March (EUR)1
Share price, high (EUR)2
Share price, low (EUR)2
Shares outstanding on 31 March (number)
Market capitalisation on 31 March (EUR million)
Employees
Number of employees at Bertrandt Group on 31/03
01/10/2022-
31/03/2023
573.135
23.999
20.704
13.963
23.185
-13.036
10.150
-13.761
437.581
47.7
916.934
1.38
50.00
51.40
28.20
10,143,240
507.2
13,715
Changes in %
17.6
15.1
18.7
28.8
-57.0
-
-52.0
-
4.5
-
-0.2
29.0
12.6
-19.3
-29.9
-
12.6
7.7
01/10/2021-
31/03/2022
487.251
20.846
17.438
10.844
53.857
-32.702
21.155
-13.069
418.609
45.5
919.050
1.07
44.40
63.70
40.25
10,143,240
450.4
12,730
1Closing price in Xetra trading.
2In Xetra trading.
02 Report on the 1st half
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Contents
Report on the 1st half
1 October 2022 until 31 March 2023
02 The first half year at glance
06 Group Management Report
18 Interim Consolidated Financial Statements
24 Condensed Consolidated Notes for the First Half of Fiscal 2022/2023 29 Quarterly Survey
30 Financial calendar
30 Roadshows and Conferences
30 Credits
03 Report on the 1st half
Overview | ||
Bertrandt benefited from increased demand for engineering | ||
services and successful project acquisition in the past half-year | ||
2022/2023. Total revenues grew by 17.6% from EUR 487.251 milli- | ||
on in the first half of the previous year to EUR 573.135 million in the | ||
reporting period. EBIT increased to EUR 23.999 million in the same | ||
period (HY1 2021/2022: EUR 20.846 million). The workforce rea- | ||
ched a record level in Bertrandt's history with 13,715 employees | ||
as at 31 March 2023 (31 March 2022: 12,730). Equity also increased | ||
06 | Group Management Report | again to EUR 437.581 million (31 March 2022: EUR 418.609 milli- |
18 | Interim Consolidated Financial Statements | on). The equity ratio at the end of the reporting period was 47.7% |
24 | Condensed Consolidated Notes for the | (31 March 2022: 45.5%). |
First Half of Fiscal 2022/2023 | ||
29 | Quarterly Survey | Bertrandt is an engineering services provider and has therefore |
30 | Financial calendar | benefited from the sustained, high levels of investment in research |
30 | Roadshows and Conferences | and development in the reporting period. According to a study |
30 | Credits | conducted by the German Association of the Automotive Industry |
(VDA), German OEMs and suppliers will invest more than 50 billion | ||
euros annually in research and development between 2023 and | ||
2027. Previously, the VDA had assumed annual investments of 44 | ||
billion euros. As these investments will focus on the megatrends of | ||
electromobility, autonomous driving and digitalisation, according |
to the VDA, the related fields of innovation will remain important growth areas for engineering services providers such as the Bertrandt Group.
The German automotive industry is thus proactively shaping the transformation of the sector, also in order to meet increasing regulatory requirements. In the reporting period, the EU agreed on a virtual ban on the sale of new combustion-powered vehicles starting in 2035 and further tightened CO2 limits. While the previous target for fleet emissions was a 37.5% reduction by 2030 compared to 2021, the new target is 55%. These and comparable regulations in other countries around the world are leading to a significant increase in the variety of models and variants of vehicles with electrified or alternative drives.
Based on the performance in the first half of the fiscal year, Ber- trandt essentially confirms the outlook for fiscal 2022/2023 as presented in the forecast in the 2021/2022 Annual Report on pages 122 - 125. Amending this forecast, Bertrandt now expects growth in total revenues of between EUR 100 and 150 million (previously EUR 60 to 100 million).
PREVIOUS | UPDATED |
FORECAST | FORECAST |
Growth in total revenues | Growth in total revenues |
60 to 100 | 100 to 150 |
EUR million | EUR million |
EBIT margin | EBIT margin |
4.1% to 7% | 4.1% to 7% |
Capital expenditure | Capital expenditure |
25 to 40 | 25 to 40 |
EUR million | EUR million |
Cashflow from | Cashflow from |
operating activities | operating activities |
positive | positive |
04 Report on the 1st half
02 The first half year at glance
REPORT ON THE1ST HALF1 OCTOBER2022 UNTIL
06 Group Management Report
18 Interim Consolidated Financial Statements
24 Condensed Consolidated Notes for the First Half of Fiscal 2022/2023
- Quarterly Survey
- Financial calendar
- Roadshows and Conferences
- Credits
Against the backdrop of the general economic conditions described above and the industry environment in the automotive sector, the Bertrandt Group reported the following key figures for the first half of the year and the second quarter of 2022/2023:
TOTAL REVENUES | EARNINGS BEFORE INTEREST AND TAXES (EBIT) | ||
HY1 2022/2023: | Q2 2022/2023: | HY1 2022/2023: | Q2 2022/2023: |
573.135 | 292.665 | 23.999 | 12.502 |
EUR million | EUR million | EUR million | EUR million |
(HY1 2021/2022: 487.251 EUR million) | (Q2 2021/2022: 254.084 EUR million) | (HY1 2021/2022: 20.846 EUR million) | (Q2 2021/2022: 10.934 EUR million) |
CASH FLOW FROM OPERATING ACTIVITIES | PAYMENTS FOR INVESTMENTS IN PROPERTY, | ||
PLANT AND EQUIPMENT | |||
HY1 2022/2023: | |||
23.185 | HY1 2022/2023: | ||
13.103 | |||
EUR million |
(HY1 2021/2022: 53.857 EUR million)
HEADCOUNT
EUR million
(HY1 2021/2022: 11.729 EUR million)
Headcount at the end of the first half of fiscal 2022/2023 was 13,715 People
(31 March 2022: 12,730; 31 December 2022: 13,416)
05 Report on the 1st half
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Disclaimer
Bertrandt AG published this content on 11 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 May 2023 08:26:02 UTC.
