Bertrandt (BDT) Investor Presentation summary

Business overview and strategy

• Over 50 years of engineering experience with FY 2022/23 revenues of €1.16bn and 14,000 employees across 50+ global locations.

• 90% of revenues from automotive, with diversification into aerospace, electrical, mechanical, and medical sectors targeted to reach 20%.

• End-to-end engineering solutions span design, software, electronics, powertrain, simulation, and testing.

• Global R&D hubs in Germany, France, Spain, Italy, China, and the US, with delivery from Romania, Morocco, and Turkey.

• Corporate strategy focuses on digitization, sustainability, autonomous driving, and global delivery.

Financial performance and segment results

• FY 2022/23 sales grew 15% to €1.16bn, with EBIT recovering to €50m and a proposed dividend of €1.20 per share.

• 9M 2023/24 sales up 7.4% yoy to €922m, but EBIT down 54% due to volatile capacity utilization and one-off items.

• Digital Engineering contributed 49% of group sales, Electric/Electronics 32%, and Physical Engineering 20% in FY 2022/23.

• International sales grew 30% in FY 2022/23, with foreign EBIT more than doubling to €11m.

• Asset-light model with capex below D&A; equity ratio at 48.3% as of 9M 2023/24.

Market trends and growth drivers

• R&D outsourcing in automotive expected to grow at 6.5% CAGR 2020–2030, driven by electrification, software, and connectivity.

• German automotive industry leads global R&D spending, with over €56bn invested annually.

• EV share in China reached 34% in 2023, with strong growth in the US and Western Europe.

• Megatrends such as digitalization, automation, and sustainability drive demand for engineering services.