Consolidated revenue amounted to EUR 115.3 million compared with a prior-year result of EUR 132.5 million. Despite the continuing difficult economic environment, technotrans improved its overall performance and remains on track for the full 2024 financial year. This is evidenced by a significantly higher EBIT margin and consolidated revenue of EUR 115.3 million. The EBIT margin is 3.5 % (previous year: 4.5 %). technotrans ended the second quarter with a solid order backlog of EUR 84 million. On this basis, the Board of Management expects increasing revenue and earnings momentum in the second half of 2024.
Increased profitability despite decline in revenue
The main reason for the 12.9% year-on-year decline in sales is the reluctance to invest in the majority of focus markets due to the weak economic environment. The Energy Management focus market developed independently of the economic environment. It achieved strong sales growth of 26% compared to the previous year. At 6.2%, profitability in the second quarter of 2024 was significantly higher than the previous year's figure of 3.7%. EBIT includes one-off expenses for the efficiency program in the amount of EUR 0.8 million. Without these expenses, an EBIT margin of 4.2% would have been achieved.
Major orders for e-buses and data centers
technotrans further expanded its market position in the Energy Management area. In April, an initial order was concluded for the newly developed liquid cooling system for equipping existing data centers. Significant progress was also made with battery cooling systems for e-buses. The major order from a well-known European electric bus manufacturer for the series production of battery thermal management systems (BTMS) published in May represents an important milestone in market positioning in Europe.
Market orientation through ttSprint efficiency program
"The positive effects of the ttSprint efficiency program, which we are systematically driving forward, are becoming apparent," says Michael Finger, CEO of technotrans SE. The ttSprint program launched at the start of the year is proceeding according to plan. All milestones defined for the first half of 2024 have been achieved. These include in particular the organizational realignment towards a market-oriented target structure for the Group.