OSAI Automation System (OSA) H2 2022 earnings summary

Executive summary

• FY2022 net profit was €952k, up 5% YoY; orders rose 20% and production value grew 30%, while revenue fell 18% amid component shortages and delayed installations.

• Strong year-end backlog of €36.940m supports growth prospects, though supply-chain and cost pressures reduced EBITDA and margins.

Financial highlights

• Revenue €31.646m, down 18% YoY; production value €42.509m, up 30%, supported by higher work in progress and orders.

• Gross margin €24.452m, up 16%; EBITDA €3.921m, down 7%; EBIT €1.818m, up 38%; net profit €952k, up 5%.

• Order intake reached €44.809m, up 20%; order portfolio was €36.940m, up 74% YoY.

• Operating cash flow was negative €2.628m; investment cash flow was negative €7.628m; cash and equivalents closed at €9.865m.

Outlook and guidance

• FY2023 production value is expected to increase, supported by the existing production structure and a supply chain expected to improve progressively; prospective margins are also expected to rise.

• Growth initiatives include new semiconductor burn-in and SiC systems, e-mobility battery applications, medical automation, and recycling systems; expansion of production space will require further investment.

• Outlook remains subject to geopolitical uncertainty and its effects on markets; production-area investment is expected to affect the financial position.