Publication of the 2021 annual report; mid-term IPO growth targets already achieved two years ahead of schedule

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DGAP-News: Brockhaus Technologies AG / Tag(s): Annual Report/Forecast
Brockhaus Technologies AG: publication of the 2021 annual report; mid-term IPO growth targets already achieved two years ahead of schedule
02.05.2022 / 23:57
The issuer is solely responsible for the content of this announcement.

Brockhaus Technologies AG: publication of the 2021 annual report; mid-term IPO growth targets already achieved two years ahead of schedule

– As-is and pro forma forecast respectively reached and exceeded

– Pro forma revenue up +145.3% to €126.5 million

– Adjusted pro forma EBITDA increased by +292.7% to EUR 48.2 million with a margin of 38.1% (prior year: 23.8%)

– 2022 forecasts with a turnover between 140 and 150 million euros with an adjusted EBITDA margin of 35%

Frankfurt am Main, May 2, 2022. Brockhaus Technologies AG (BKHT, ISIN: DE000A2GSU42), a technology group focused on acquiring high-margin, high-growth technology and innovation champions in the within the German Mittelstand, today announced its results for the 2021 financial year.

Fiscal 2021 was a transformational year for Brockhaus Technologies. Two acquisitions were successfully completed in 2021 with proceeds from the IPO in 2020 – Bikeleasing and kvm-tec. More than ever, Brockhaus Technologies unites high-margin, high-growth technology and innovation leaders under one roof.

Brockhaus Technologies achieved revenue of €66.5 million and adjusted EBITDA of €21.8 million in fiscal year 2021. This corresponds to an adjusted EBITDA margin of 32.8 % and thus significantly exceeds the revenue forecast by 62 million euros and the expected EBITDA margin by more than 23.8%.

On a pro forma basis, as if the acquisitions of Bikeleasing and kvm-tec had already taken place on January 1, 2021, Brockhaus Technologies generated sales of 126.5 million euros (+145.3% on a year), an adjusted EBITDA of €48.2 million (+292.7% year-on-year) and a corresponding adjusted EBITDA margin of 38.1% (previous year: 23.8%). This means that the Group not only more than doubled its turnover and almost quadrupled its EBITDA, but also reached its pro forma turnover forecast between 125 and 135 million euros and significantly exceeded its planned adjusted EBITDA. between 42 and 46 million euros.

“We achieved our mid-term growth targets only 18 months after our IPO in July 2020, which was actually twice as fast as expected at IPO, despite the COVID-19 pandemic in course,” said Marco Brockhaus, CEO and Founder of Brockhaus Technologies. .

Bikeleasing: integration successfully completed

Bikeleasing is now fully integrated into the technology group. New Fintech sector, consisting of Bikeleasing, achieved pro forma revenue of €72.6 million during the reporting period with a pro forma adjusted EBITDA margin of 54.8%. This aligns with continued strong revenue growth of +101.9% year over year and underscores the scalability of the platform’s business model. Bikeleasing develops and operates a digital B2B financial platform for the facilitation, financing and management of employee benefits through the employer. In fiscal 2021, Bikeleasing increased the number of corporate customers connected to its platform to over 32,000, whose employees ordered and financed over 80,000 new corporate bikes on the Bikeleasing platform.

IHSE: Acquisition of kvm-tec as an important strategic addition to the technology portfolio

By acquiring kvm-tec, IHSE has supplemented its already leading proprietary KVM technology portfolio with the addition of a KVM over IP solution and can now provide customers worldwide with flexible KVM solutions to meet any need. IHSE is a leading manufacturer of KVM (Keyboard, Video, and Mouse) technologies for highly secure, low-latency, and lossless data transmission in mission-critical applications. The acquisition also means IHSE will be able to tap into a global KVM over IP customer base and hopes to leverage significant production and sales synergies. Business in the Security technology segment, which includes IHSE and kvm-tec, continued to be impacted during the reporting period by the effects of the COVID-19 pandemic. Renewed lockdowns and continued travel and contact restrictions have resulted in delays in order intake and revenue realization across all regions, particularly for large KVM projects. With kvm-tec, IHSE recorded a pro forma turnover of 32.7 million euros, slightly lower than the figure for the previous year, while the order book increased considerably. The adjusted pro forma EBITDA margin was 25.5%.

Palas: almost quintupled the Chinese turnover following a successful internationalization

the Environmental Technologies segment, which consists of Palas, continued to perform very well over the reporting period: with revenue up +17.5% to €21.3 million and adjusted EBITDA margin of 34.4%, Palas can look back on a record year 2021. Palas develops, manufactures, and sells high precision devices to measure, characterize and generate particles in the air, such as fine dust and nanoparticles. Particularly in the first half of the year, Palas continued to generate significant revenue from the sale of equipment for testing the effectiveness of respiratory masks, the sales volumes of which, however, have already fallen considerably in the second half of the financial year. In addition, with the gradual lifting of measures to contain the COVID-19 pandemic, Palas’ core business for certified fine dust measurement has seen a comeback. Palas also increased its revenue in the Asia-Pacific region by +124.6% to 4.3 million euros and by a factor of five in China. This fine performance is due to the creation of its own commercial entity in Shanghai in 2020, the first step in the internationalization of Palas.

Outlook

Brockhaus Technologies expects revenue of between 140 and 150 million euros for the current financial year, with a still high adjusted EBITDA margin of 35%.

Regarding inorganic growth driven by new acquisitions, CEO Marco Brockhaus is confident: “We want to continue to grow selectively. high towards these After a year and a half as a listed company, we are very solidly positioned with three subsidiaries.Our long-term objective is to finance new acquisitions from the organic cash flow of our subsidiaries.In this way, we would avoid capital increases and the our interests in this regard are aligned with those of our shareholders, as we, the Brockhaus Technologies team, are still the largest group of shareholders.

EBITDA is calculated as earnings before interest, taxes, depreciation and amortization, adjusted for the cost of acquisition of subsidiaries, equity transaction costs to be recognized in profit or loss and share-based payment costs. Revenue and EBITDA are also adjusted for the effects of purchase price allocations (PPA). Further information on our key performance indicators is available in note 7 of the 2021 consolidated financial statements (page 86 of the 2021 annual report).

The 2021 annual report is now available on https://ir.bcm-ag.com/websites/brockhaus/English/3000/publications.html.

The earnings call for investors and analysts in English will take place at 4:00 p.m. (CET) on May 3. If you would like to participate, please register here: https://webcast.meetyoo.de/reg/hBlQY504LXRm

Financial calendar

May 16, 2022 Quarterly report Q1 2022

June 22, 2022 2022 Annual General Meeting

August 15, 2022 Publication of the half-year report

November 14, 2022 Quarterly Report Q3 2022

About Brockhaus Technologies AG

Frankfurt am Main-based Brockhaus Technologies AG (BKHT, ISIN: DE000A2GSU42) is a technology group that acquires high-margin, high-growth technology and innovation champions with B2B business models in the German Mittelstand. With a unique platform approach and a long-term horizon, Brockhaus Technologies actively and strategically supports its affiliates in achieving long-term profitable growth, both across industries and internationally. At the same time, Brockhaus Technologies provides a gateway to these unlisted German technology champions, which are otherwise inaccessible to capital market investors. For more information, please visit www.brockhaus-technologies.com

Contact Details

For investors:
Paul Gohring
Telephone: +49 69 20 43 40 978
Fax: +49 69 20 43 40 971
E-mail: [email protected]

For the media:
Jeanette Kehrein
Telephone: +49 69 20 43 40 978
Fax: +49 69 20 43 40 971
E-mail: [email protected]ockhaus-technologies.com

02.05.2022 Broadcast of a Corporate News, transmitted by the DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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