Bertrandt (BDT) Investor Presentation summary

Business overview and strategy

• Over 50 years of engineering experience with €1.19bn in FY 2023/24 revenues and 14,000 employees across 50+ global locations.

• Core focus on automotive (90% of sales), with diversification into aerospace, electrical, mechanical, and medical sectors.

• Operates through three segments: Digital Engineering, Electric/Electronics, and Physical Engineering, serving leading OEMs and system suppliers.

• Strategic initiatives target digitization, autonomous driving, electric mobility, connectivity, and sustainability.

• M&A is integral, with recent acquisitions expanding technical skills, customer base, and international presence.

Financial performance and key metrics

• FY 2023/24 sales grew 2.5% to €1.187bn, driven by 40% growth abroad, while German sales declined 5.3%.

• EBIT was €-98m due to €-116m in special items (restructuring, impairments), but non-IFRS EBIT was €18m.

• Free cash flow reached €55m, and equity ratio remained solid at 41.4%.

• CapEx reduced to €19.3m, reflecting an asset-light model and focus on IT and maintenance.

• Dividend policy targets around 40% payout of consolidated earnings after taxes.

Market environment and trends

• R&D outsourcing in automotive expected to grow at 6.5% CAGR (2020–2030), with strong demand for E/E and software engineering.

• Global R&D investments are resilient, with German automotive industry leading in spend and innovation.

• Regulatory shifts and megatrends (e-mobility, digitalization, sustainability) drive ongoing transformation and investment.

• Internationalization and local-for-local strategies by OEMs are accelerating, impacting domestic project volumes.