Brockhaus Technologies AG / DE000A2GSU42

Frankfurt am Main, November 4, 2024 Brockhaus Technologies AG (BKHT, ISIN: DE000A2GSU42, "Brockhaus Technologies") achieved revenue of €175.3 million in the first nine months of the fiscal year, according to preliminary figures, representing organic growth of +22.9% compared to the same period last year (9M 2023: €142.7 million). Adjusted EBITDA increased by +25.0% to €68.0 million, representing an adjusted EBITDA margin of 38.8% (9M 2023: €54.4 million; 38.1% margin). Adjusted EBIT rose by +25.5% to €64.2 million, with an adjusted EBIT margin of 36.6% (9M 2023: €51.2 million; 35.9% margin). Due to the acquisition of four external sales agencies in the HR Benefit & Mobility Platform segment during fiscal year 2023, the group also reports adjusted earnings for the previous year period 9M 2023 on a pro forma basis for better comparability. Since the acquisitions do not contribute to revenue but mainly reduce costs, the pro forma results are higher with unchanged revenue levels. Compared to the pro forma figures in 9M 2023, adjusted EBITDA in 9M 2024 increased by +15.7% (9M 2023: €58.8 million; 41.2% margin) and adjusted EBIT rose by +15.7% (9M 2023: €55.5 million; 38.9% margin). Before adjustments, preliminary EBITDA amounted to €63.5 million (9M 2023: €53.5 million) and EBIT to €45.6 million (9M 2023: €38.7 million). EBIT is particularly impacted by purely consolidation-related PPA amortization. With these preliminary results, 9M 2024 is in line with expectations. In the HR Benefit & Mobility Platform segment (Bikeleasing and Probonio), revenue increased by +33.5% to €151.1 million in 9M 2024 (9M 2023: €113.2 million). Adjusted EBITDA increased by +27.3% to €70.6 million, with an adjusted EBITDA margin of 46.7% (9M 2023 pro forma: €55.5 million; 49.0%). This was mainly driven by the successful ongoing transition of existing customers (around 90% of the employee base) to a variable leasing factor, which positively impacted earnings per new bike brokered. The remaining existing customers with around 10% of the employee base have not yet agreed to the new contract system, so efforts to continue the transition are ongoing. This negatively impacted the number of newly brokered bikes. Additionally, economic-related downgrades in the creditworthiness of certain corporate clients led Bikeleasing to reject a high number of requests for new contracts from existing customers to maintain the high quality of its leasing portfolio. This, combined with a general economic slowdown in Germany and ongoing consumer restraint, led to a decrease in new orders in the third quarter. Regardless, new customer onboarding at Bikeleasing continues to remain very positive. As of September 30, 2024, approximately 70,000 companies, with around 3.7 million employees, were connected to Bikeleasing’s digital platform. In the Security Technologies segment (IHSE), despite a significant revenue increase in the third quarter (€10.0 million), total revenue for the reporting period was €24.2 million, representing a decline of -17.8% compared to the prior year (9M 2023: €29.5 million). Business-specific fluctuations in project business and the late receipt of certain order specifications led to revenue shifts. As of September 30, 2024, the order backlog remained at a high level of €8.3 million (December 31, 2023: €4.6 million), suggesting a strong year-end business performance. Adjusted EBITDA for the reporting period was €3.2 million, with an adjusted EBITDA margin of 13.2% (9M 2023: €7.8 million; 26.4%). This was primarily due to the lower revenue level in 9M 2024, which did not result in a corresponding decrease in costs related to fixed personnel and other operating expenses. Management expects this effect to further normalize over the course of the year, with adjusted EBITDA margin projected to be significantly higher. Brockhaus Technologies' forecast for fiscal year 2024 remains unchanged, with revenue expected to range between €220 million and €240 million and adjusted EBITDA between €80 million and €90 million. Regarding the definition of alternative performance measures, please refer to pages 94 and following of our 2023 annual report and pages 15 and following of our H1 2024 half-year financial report. The financial figures stated in this disclosure are preliminary and unaudited. The 9M 2024 quarterly report will be published on Thursday, November 14, 2024. The earnings call for 9M 2024 is also scheduled for Thursday, November 14, 2024, at 4:00 PM CET.   Contact: Brockhaus Technologies – Florian Peter Phone: +49 69 20 43 40 90 Fax: +49 69 20 43 40 971 E-Mail: ir@brockhaus-technologies.com