The first nine months of fiscal 2024/2025 were characterized by challenging macroeconomic conditions, particularly in the automotive industry. Against this backdrop, the Group's total revenues and operating earnings declined in the reporting period. The high volume of development services requested generally reflects the high demand for Bertrandt's solutions in the medium to long term.
The demanding conditions and challenges, particularly in the German automotive market, have not only impacted Bertrandt's performance in the first half of 2024/2025. As a result, the extent and timing of the market recovery and improvement in capacity utilization in the second half of 2024/2025 anticipated in the previous forecast can be estimated less reliably than before. The company has therefore adjusted its forecast for the 2024/2025 financial year and continued to systematically implement the "Fit for Future" earnings optimization program.
As expected, the market environment in Bertrandt's customer industries remained challenging in the first quarter of fiscal 2024/2025. Total revenues amounted to EUR 266.451 million in the first quarter of 2024/20025, benefiting from the growing international business. The implementation of the “Fit for Future” earnings optimization program was continued consistently and has already had a positive impact.
After a successful opening quarter in the 2023/2024 financial year, Bertrandt was faced with changed market and general conditions in Germany from the second quarter onwards. For full details, please read our annual report for fiscal 2023/2024.
Bertrandt AG's fiscal year began in October 2023 under tense geopolitical and challenging global economic conditions. Since the beginning of the second quarter, the Group has observed reduced demand for capacity, which has had a temporary negative impact on the Company's capacity utilization. As a result, growth in total revenues slowed to three percent to EUR 921.6 million after three quarters in the 2023/2024 financial year.
After a positive development in the first quarter of fiscal 2023/2024, Bertrandt has been faced with changed market conditions – considered to be temporary – since the beginning of the second quarter. Despite the current challenges, the engineering services provider increased its total revenues by around 9 per cent to EUR 626.890 million in the first half of its fiscal year 2023/2024 (HY1 2022/2023: EUR 573.135 million).
Engineering service provider Bertrandt benefited in the first quarter of fiscal 2023/2024 from a conducive market climate for research and development in its customer industries. More project awards also contributed favourably to the company’s development, enabling it to increase total revenues by 10.0 per cent to EUR 308.398 million in the period under review.
The engineering services provider Bertrandt benefited from significant research and development investment by the customer industries in the 2022/2023 fiscal year. As a result, Bertrandt’s total revenues grew by 14.7 per cent to a record high of close to EUR 1.16 billion. EBIT also developed positively and came to EUR 50.1 million in the reporting period. The company expects further growth in total revenues and an improvement in profitability for the 2023/2024 fiscal year.
Your Contact
Björn Voss
Head of Investor Relations and M&A