centrotherm international AG looks back on a very satisfactory 2023 financial year. As the Group’s earning power was significantly strengthened by the substantially increased share of business with the semiconductor industry, the Management Board sees this as confirmation that it is on the path to sustainably profitable business development.
centrotherm succeeded in significantly increasing consolidated earnings before interest, tax, depreciation and amortization (EBITDA) from EUR 16.2 million to EUR 19.0 million, thereby meeting the forecast of positive EBITDA in the low double-digit million euro range. This also applies on the basis of the adjusted EBITDA of EUR 15.9 million. In the 2023 financial year, there was a revaluation of centrotherm’s reimbursement claim from the former major project in Algeria (EUR 3.1 million). Consolidated net income increased significantly from EUR 13.0 million to EUR 18.7 million, which equates to improved earnings per share of EUR 0.88 (2022: EUR 0.62).
The Group’s order intake also developed very positively in the 2023 financial year. At EUR 268.8 million, the forecast of EUR 250 to 350 million was met. 82.9% (2022: 65.5%) of orders came from the semiconductor industry and 16.7% (33.9%) from the photovoltaic industry. The re-entry into the US PV market is particularly positive. As at December 31, 2023, the Group order backlog amounted to EUR 539.1 million, which represents a significant increase of 27.3% compared to the previous year’s figure of EUR 423.6 million.
Group revenue amounted to EUR 151.2 million in the 2023 financial year (2022: EUR 180.5 million). International business remained of key importance, accounting for 87.4% of revenue (2022: 91.8%), with a continued strong focus on Asia, where 70.1% (2022: 84.0%) of Group re-venue was generated. Revenue from the sale of production systems totaled EUR 130.9 million (2022: EUR 164.1 million), of which the share attributable to the semiconductor industry increased significantly to EUR 107.1 million (2022: EUR 47.5 million). Revenue from service and spare parts increased from EUR 15.2 million in the previous year to EUR 19.2 million in the 2023 financial year.
As inventories of finished goods and work in progress increased by EUR 45.2 million in the 2023 financial year (2022: decrease in inventories of EUR 62.7 million), the Group’s total operating performance increased to EUR 196.7 million after EUR 118.3 million in the previous year. The fact that the forecast of EUR 220 million to EUR 260 million was not achieved is primarily due to deviating project progress as a result of postponed customer projects.
Jan von Schuckmann, CEO: “We achieved further important successes in 2023 as part of our diversification strategy. For the 2024 financial year, we are very confident that we will continue to benefit from the ongoing positive industry environment, particularly in the semiconductor and microelectronics industry, and thus seamlessly build on the good business performance in 2023. In the medium to long term, we want to open up further attractive sales markets, for example with new innovative solutions for wafer production in the semiconductor industry or in battery production.”
For the 2024 financial year, the Executive Board is forecasting total operating revenue of EUR 200 million to EUR 300 million. EBITDA is again expected to be in the low double-digit million euro range. Incoming orders are expected to reach between EUR 200 million and EUR 300 million.
Original – centrotherm international