Growth problems in the automotive industry? Not at engineering service provider Bertrandt! CFO Markus Ruf after Q3: "Our customers are consistently investing in the transformation process. New models, electromobility, megatrends digitization." This is reflected in higher R&D spending and, in fact, more revenue for Bertrandt. Revenue after three quarters is up 16% to €860 million. Operating profit rises by a quarter to 32.7 million, after taxes even by more than 50 %. To meet the high demand, Bertrandt has already hired more than 1,000 new employees this fiscal year. "We develop the products of tomorrow and the day after tomorrow." Customers from the automotive, mechanical engineering, aerospace and healthcare industries are now putting their money where their mouth is. "R&D spending is a success factor."
Despite challenging conditions in the reporting period, the group benefited from increased demand for engineering services and successful project acquisition. Bertrandt continued to press ahead with its internationalisation.
Board interview Markus Ruf | Börsenradio, 11.05.2023 (only available in German)
"The German automotive industry invests around 50 billion euros a year in research and development." Money from which the engineering service provider Bertrandt also benefits. The 2022/23 half-year figures: total output increased by 17.6% to over 573 million euros. The forecast of expected growth was adjusted, it is now between 100 to 150 million euros (previously 60 to 100 million euros). "Bertrandt works across all disciplines for all automotive manufacturers in Germany," CFO Markus Ruf said in an interview. One driver: e-mobility. The combustion engine, however, will continue to run in parallel for a while. Zero-emission flying is another topic that keeps Bertrandt's more than 13,000 employees busy.
Engineering service provider Bertrandt enjoyed a successful first half year 2022/2023, benefiting from increased demand for engineering services and successful project acquisition.
Board interview Markus Ruf | Börsenradio, 15.02.2023 (only available in German)
Many people sit or drive in Bertrandt technology. The engineering service provider works on a specialist and interdisciplinary basis in the automotive and aircraft industries. CFO Markus Ruf sees a "heterogeneous situation" in the automotive sector, despite or perhaps even because of the imminent end of the combustion engine. A modern model policy also brings opportunities for Bertrandt AG. "Many of our customers are positioning themselves as open to technology," explains Ruf, who does not fear any recessionary effects for his company. In the first quarter of 2022/23, there was a 20% increase in revenue and EBIT of €11.4 million. The overall result is 6.5. "Strong growth in electronics, software and digital engineering." The Group closed fiscal 21/22 with total operating performance of EUR 1 billion. The AGM is on February 22, and the dividend will increase by 215%.
The first quarter of the Bertrandt Group's fiscal year 2022/2023 was positive. The order situation in the automotive sector is stabilizing and an increase in project awards to engineering service providers has been recorded.
Board interview | Börsenradio, 15.12.2022 (only available in German)
"We are currently experiencing a significant upturn in demand," says CFO Markus Ruf. This is also due to higher capacity utilization following project postponements and increased sick leave in the early pandemic years. Corona had an "impact of around 15 million" euros. The megatrends are digitalization, e-mobility and autonomous driving. These impacts, including growing personnel costs (over 1,100 new employees since 2020, for a total of 13,179 worldwide), are hitting the service company harder than rising energy costs and material shortages. The good results also lead to a dividend proposal of 85 cents per share (Annual General Meeting in February 2023). Bertrandt also expects revenue growth of between 60 and 100 million euros in 2022/23.
The Bertrandt Group's business performance in the period under review was characterized by an increase in project awards and a noticeable improvement in capacity utilization compared with the previous year, which was burdened by the pandemic.
Board interview | Börsenradio, 08.08.2022 (only available in German)
"We see a very strong contracting policy from our customer after the Corona lull and therefore raise our guidance after three quarters," says CFO Markus Ruf. Sales are up 17% and operating profit doubles. "We also achieve strong organic growth of 14%!". The megatrends of digitalization, e-mobility and autonomous driving require forward-looking action. "Those who write tomorrow's technology today will have an advantage in success later. In addition, our customers are currently writing surprisingly good figures and earning money." Bertrandt can pass on the increased costs to customers via price escalator clauses and intensive discussions. "With existing contracts, it's a more intensive dialog."
Here you can find the interview in text form (only available in German | finanztrends.de)
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