TKH Group N.V.

Latest Results (20.08.2024):

Revenue and Turnover

In H1 2024, TKH Group N.V. reported a turnover of €867.2 million, representing a 1.6% organic decrease compared to H1 2023's €947.6 million. The turnover in Q2 2024 amounted to €446.3 million, showing a 6.6% organic increase from Q1 2024 and a 1.1% organic increase from Q2 2023. The order intake in Q2 2024 reached €516 million.

Profit and Earnings

TKH Group N.V.'s net profit before amortization and one-off income and expenses attributable to shareholders decreased by 32.9% to €45.4 million in H1 2024, down from €67.7 million in H1 2023. Including a €13.7 million one-off contribution from the divestment of HE System Electronic, the net profit amounted to €49.8 million, compared to €98.4 million in H1 2023, which included a €36.2 million contribution from the divestment of CCG.

EBITA and ROS

EBITA for TKH Group N.V. in H1 2024 decreased by 11.3% organically to €95.8 million, down from €119.8 million in H1 2023. The Return on Sales (ROS) decreased to 11.0% in H1 2024 from 12.6% in H1 2023, primarily due to start-up and ramp-up costs of new facilities and lower demand from continued destocking and weaker market conditions for both Smart Vision systems and Smart Connectivity systems.

Net Interest and Debt

Net interest expenses for TKH Group N.V. increased to €13.9 million in H1 2024, up from €8.9 million in H1 2023, due to higher interest rates and a higher outstanding debt. The net interest-bearing debt increased by €105.7 million from the level at year-end 2023 to €574.9 million as of June 30, 2024. The net debt/EBITDA ratio stood at 2.3, which is within the financial ratio agreed with the banks.

Order Book and Investments

The order intake for TKH Group N.V. in H1 2024 was strong, resulting in an order intake of €970.9 million, compared to €975.6 million in H1 2023. The order book as of June 30, 2024, increased to €1,053 million from €970 million at the end of 2023. Net investments in property, plant, and equipment amounted to €59.7 million, with about €30 million related to the strategic investment program.