Brockhaus Technologies AG: Revenue forecast 2023 outperformed at €186m (+31% vs. 2022) by preliminary numbers; adjusted EBITDA of €62m (33% margin)

Frankfurt am Main, February 28, 2024.

According to preliminary figures, Brockhaus Technologies AG (BKHT, ISIN: DE000A2GSU42, “Brockhaus Technologies”) generated revenue of €186 million in fiscal year 2023, which corresponds to organic growth of +31% compared to the year before (2022: €143 million). Adjusted EBITDA also increased by +31% to €62 million and corresponds to an adjusted EBITDA margin of 33% (2022: €47 million; 33% margin). Adjusted EBIT increased by +30% to €57 million at an adjusted EBIT margin of 31% (2022: €44 million; 31% margin).

In the Financial Technologies segment (Bikeleasing), Brockhaus Technologies has further deepened the value chain through the acquisition of four external sales agencies. For the 2023 fiscal year, the group will therefore also report the key earnings figures on a pro forma basis, as if the four acquired agencies would have already been part of the group as per January 1, 2023. In the pro forma perspective, these acquisitions lead to a positive earnings effect and an adjusted pro forma EBITDA of €67 million (36% margin) and an adjusted pro forma EBIT of €62 million (33% margin) in the group. The acquisitions did not affect the group’s revenue.

Before adjustments, EBITDA amounted to €58 million (2022: €47 million) and EBIT amounted to €37 million (2022: €29 million). EBIT is particularly influenced by purely consolidation-related PPA amortization.

Most recently, Brockhaus Technologies communicated its expectation to reach the upper end of the original revenue forecast range of €165 million to €175 million in 2023. The forecast value for the adjusted EBITDA margin was 35%. According to the preliminary figures for 2023, the upper end of the forecast has now been exceeded by 6% in terms of revenue and 1% in terms of adjusted EBITDA. At 33%, the adjusted EBITDA margin was slightly below the forecast figure.

Regarding the definition of alternative performance measures, please refer to page 85 onwards of our Annual Report 2022 as well as page 19 of our Half-Year Financial Report H1 2023. In 2022, the adjustments still included the decreased earnings due to value step-up. In order to avoid deviations between the key performance indicators and IFRS as good as possible, this adjustment is no longer included since beginning of 2023. This means that revenue is no longer adjusted and the previous year’s figures have been adapted accordingly.

The key financial figures stated in this release are preliminary and unaudited, which is why changes may still occur. The Annual Report 2023 will be published on Thursday, March 28, 2024. The earnings call 2023 will also take place on the same day.

Contact:

Brockhaus Technologies – Paul Göhring

Phone: +49 69 20 43 40 90

Fax: +49 69 20 43 40 971

E-Mail: ir@brockhaus-technologies.com