As expected, the technotrans Group made a subdued start to the 2024 financial year due to the weak economic environment. In the first three months, the thermal management specialist generated consolidated revenue of EUR 56.0 million compared with revenue of EUR 68.3 million in the prior-year quarter. At EUR 0.4 million, the consolidated operating result was considerably lower than in the previous year (EUR 3.5 million). The first restructuring expenses of EUR 0.7 million incurred in connection with the ttSprint efficiency program were already included in EBIT.
Improved growth prospects
The technotrans Board of Management expects business to pick up in the second half of 2024. technotrans has already paved the way for an increase in profitability at the start of the year with major orders in the area of key future technologies and the launch of the ttSprint efficiency program. The Board of Management confirms the forecast for the current financial year and continues to expect revenue of between EUR 245 and 270 million with an EBIT margin of between 5.5 % and 7.5 %. The medium-term targets for the 2025 financial year are also confirmed.
Major orders generated
Among other things, a major order has been received from the manufacturer ADS-TEC Energy, which includes solutions for the cooling of battery storage fast-charging stations worth a high single-digit million figure. Further major orders for mobile and stationary cooling systems for rail and road transportation are also currently being implemented.
Efficiency program to transform the group
In addition to a stronger customer focus and greater speed, the ttSprint program is primarily intended to increase the company's profitability. The plan is to introduce a decentralized, market-oriented organization in line with technotrans' focus markets. The emphasis will also be placed on profitable growth markets and products. Greater modularization and the reduction of complexity in product development should help the Group to achieve greater cost efficiency. The company's cost structure will also be adjusted accordingly.
Management board confirms forecast
In view of the increasing importance of intelligent thermal management for the global megatrends of decarbonization, digitalization and electrification as well as the consistent strategic focus, the technotrans Board of Management is confident about the future despite the difficult economic conditions.