Brockhaus Technologies (BKHT) Company Presentation summary

Strategy and business model

• Focuses on acquiring and growing technology champions in German Mittelstand, targeting niche markets with high margins and long-term growth potential.

• Employs a cash compounding model, reinvesting cash flows and repaying debt to drive sustainable, profitable growth.

• Strategic know-how transfer and access to a broad network support value creation and internationalization.

• Proven track record with over 20 years of superior returns, including multiple successful private equity funds and exits.

• Management and subsidiary teams are highly incentivized through significant direct equity ownership.

Financial performance and key metrics

• Reported 9M 2024 group revenue of €175.3m, up 22.9% year-over-year, with adjusted EBITDA of €68.0m and a margin of 38.8%.

• Maintains a conservative net leverage ratio of ~0.56x adjusted pro-forma EBITDA, well below the target of 2.5x, supporting future acquisition capacity.

• Available non-dilutive financing capacity estimated at €148m as of September 2024.

• Revenue growth and adjusted pro-forma EBITDA together exceed the internal "Rule of 50" at ~62%.

Portfolio companies and operational highlights

• Bikeleasing.de: B2B FinTech platform for employee benefits, with €146m revenue and €63m adj. EBITDA in FY23, serving ~72,000 corporate customers and 3.7 million employees.

• Bikeleasing's 9M 2024 revenue reached €151.1m, with record EBITDA and cash flow, despite a slight decline in facilitated bikes.

• Probonio integration expands the benefits platform, enabling upselling and higher employee penetration rates.

• IHSE: Technology leader in secure, high-performance KVM data transmission, with €40m revenue and €11m adj. EBITDA in FY23.

• IHSE's 9M 2024 revenue grew to €29.5m, with a healthy order backlog and focus on new applications and under-penetrated markets.

• Palas: Nearly doubled revenue and EBITDA during BKHT ownership, followed by a successful value-creating exit.