Bertrandt (BDT) investor relations material

Executive summary

• Q1 revenues were €234.1 million, down 12.2% year-over-year, but performance exceeded expectations with signs of market recovery, especially in Germany, and higher order income towards quarter-end.

• EBIT improved to €0.238 million from -€2.143 million in the prior year, driven by cost optimization programs such as 'Fit for Future' and F³, resulting in a solid balance sheet.

• Net loss after taxes narrowed to €-2.76 million, with EPS at €-0.27, compared to €-3.67 million and EPS of €-0.36 last year.

• Efficiency and cost optimization programs contributed to improved profitability and lower headcount.

Financial highlights

• Sales reached €234.1 million, down 12.2% year-over-year but stable compared to Q4.

• EBIT was €0.238 million, up from -€2.143 million in the previous year.

• EPS stood at €-0.27, an improvement from €-0.36 in the prior year.

• Free cash flow was €47 million, up from €38 million year-over-year.

• Equity ratio improved to 46.4% from 42.3% year-over-year, reflecting financial stability.

Outlook and guidance

• Management expects moderate revenue growth and significant EBIT improvement for the full year, with stronger H2 and Q4 due to normalized contract call-offs and full impact of cost optimization.

• Guidance confirmed for moderate revenue growth and positive EBIT for the fiscal year, with margin ambition at 6%-9% in a normalized sourcing environment within 2-3 years.

• Strong operating and free cash flow anticipated for the year, supported by low CapEx and efficient working capital management.

• Economic and geopolitical environment expected to remain volatile and challenging.