19.05.2022 | press release

Dynamic development after Corona pandemic

Bertrandt publishes report on 2nd quarter 2021/2022

Ehningen, 19. May 2022 – The brightening of market sentiment observed since summer 2021 continued in the first half of fiscal 2021/2022. The expected normalisation following the Corona crisis materialised and project awards led to rising capacity utilisation at Bertrandt both in Germany and abroad. Total output increased by 17% to a good EUR 487 million in the first half of the current fiscal year. In parallel, operating earnings improved accordingly: EBIT rose from EUR 11 million in the same period last year to just under EUR 21 million.

The start to the period under review was characterised on the one hand by a gratifying economic recovery and diminishing effects of the Corona crisis. On the other hand, Bertrandt felt the effects of the pandemic directly: Burdens such as a high level of sick leave and effects due to the lockdown in China were reflected in the second quarter results. In addition, Bertrandt paid a Corona bonus to its employees in the second quarter in recognition of their commitment and performance during the pandemic.

The general market recovery and the associated positive underlying conditions continued well into the second quarter. Bertrandt is also benefiting from the long-term trends in the mobility sectors such as electrification, digitalisation and networking as well as autonomous driving. In particular, the transformation towards electrified powertrains is presumably being accelerated by recent efforts to become less dependent on fossil fuels.

With the start of the war in Ukraine at the end of February 2022, the macroeconomic environment changed: Factors such as material shortages and rising inflation rates brought challenges for many industries. Bertrandt is not directly affected by the conflict, but indirect burdens due to a possible further weakening of the macroeconomic environment or other effects of the war cannot be definitively assessed for the time being.

The Bertrandt Group continued to implement its strategic development in a targeted manner in the first six months of the current fiscal year. With the completion of the acquisition of the Philotech Group at the end of January, the growth areas of software, electronics and IT security in particular are being expanded.

The most important corporate key figures developed as follows in the first half of the 2021/2022 financial year: 

  • Total revenues increased by 17% from 416,795 TEUR to 487,251 TEUR.
  • In the second quarter, total sales of 254,084 TEUR (previous year 215,054 TEUR) were achieved, which corresponds to an increase of around 18%.
  • In addition to the higher capacity utilisation, EBIT also benefited from the measures introduced last year and rose disproportionately compared to the same period of the previous year to 20,846 TEUR (previous year 11,084 TEUR).
  • The operating margin improved from 2.7% in the previous year to 4.3% in the reporting period.
  • In the second quarter, EBIT reached a value of TEUR 10,934 (previous year TEUR 6,559), which corresponds to an EBIT margin of 4.3% (previous year 3.1%).
  • Free cash flow reached a positive value of TEUR 21,155 (previous year TEUR 36,625) despite an increased dividend distribution compared to the previous year and the purchase price payment for the Philotech Group.
  • The number of employees at the end of the first half of 2021/2022 was 12,730 (previous year 11,987). The increase includes around 400 new hires and the new colleagues of the Philotech Group.

"We are pleased that we have been able to increase almost all important key business figures in the past six months, and in some cases even noticeably. Our forecast for the 2021/2022 business year, which we had adjusted after the Philotech acquisition, is confirmed. We expect total revenues to grow by between EUR 100 million and EUR 140 million (previously EUR 80 million to EUR 120 million) and an EBIT margin of between 4% and 7%," says Markus Ruf, Bertrandt AG's Chief Financial Officer, summarising the results of the first half of the 2021/2022 financial year.

The most important key figures at a glance

IFRS-based figures
for the Bertrandt Group

to 31/03/2022

to 31/03/2021

Total revenues (EUR million)



EBIT (EUR million)



Post-tax earnings

(EUR million)



Free cash flow (EUR million)



Equity ratio (in percent)



Employees worldwide



About Bertrandt
As a leading development service provider in the automotive, aviation and mechanical engineering sectors, Bertrandt focuses on first-class technology-oriented services for the mobility of today and tomorrow! The trends of digitalisation, autonomous systems, networking and electromobility play a central role here.
With almost 50 years of cross-industry expertise and a global presence, we are able to develop customer-centric solutions quickly and efficiently. Our strengths lie in our ability to implement projects holistically - from consulting to implementation and safeguarding to production transfer and after-sales, as well as in the speed with which we can scale projects. More than 12,500 employees at around 50 locations worldwide are committed to meeting the challenges of our customers.

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