"technotrans achieved a stable performance in the third quarter of 2024 - despite a difficult economic environment - and remained on target in the nine-month period. The main reasons for this were the continued high increase in revenue in the focus market Energy Management, a strong service business and the first positive effects of the ttSprint efficiency program," says CEO Michael Finger.
Solid performance in the 3rd quarter
technotrans generated revenue of € 60.2 million in the third quarter, slightly up on the previous quarter. At € 175.5 million (previous year: € 199.3 million), Group revenue in the first nine months of the 2024 financial year was around 12 % down on the previous year due to the weak economy. This did not affect the Energy Management focus market, which achieved a 27% increase in sales compared to the previous year. Here, a follow-up order for the series production of battery thermal management systems (BTMS) was concluded for a well-known European manufacturer of electric buses. The order volume is in the high single-digit million euro range. The Plastics focus market opened up additional prospects with an order as the exclusive supplier of temperature control systems for foaming processes in the battery production of a German car manufacturer. Other highlights included the establishment of a sales partnership for temperature control systems with enesty GmbH and the company's presence at the Fakuma trade fair.
Successful efficiency program
technotrans will continue to press ahead with the ttSprint efficiency program. The company reports that all milestones set in the period under review have been achieved to date. The Group's cost structure has been sustainably improved as a result. The programme will be completed by the end of 2024, so that the new market-oriented, decentralized organizational structure can be launched in the new financial year, it says. Finally, the Executive Board specifies its expectation of achieving Group sales at the lower end of the range between € 245 million and € 270 million in the 2024 financial year. This includes expenses from the efficiency program.