3U HOLDING AG Reports Modest Growth in Q1 2024 Amidst Segment Shifts

3U HOLDING AG has reported a revenue increase of 3.4% in the first quarter of 2024, reaching EUR 13.7 million, up from EUR 13.3 million in the same period last year. The Information and Telecommunications Technology (ITC) segment emerged as the strongest growth driver, with a significant 53.1% revenue increase to EUR 4.8 million. Meanwhile, the Sanitary, Heating, and Air Conditioning (SHAC) segment saw a more modest rise, contributing a 2.9% growth with revenues touching EUR 8.0 million.

Despite the overall revenue upswing, the Renewable Energies segment faced challenges due to technical issues and lower market values, which led to a 54.6% drop in revenue compared to Q1 2023. This was primarily due to a defect in the Langendorf Wind Farm's substation that impacted energy production in January 2024.

The financial outcomes have been mixed as a result of increased operational costs and strategic investments, which contributed to a notable decrease in the Group's EBITDA, down 59.8% from the previous year to EUR 0.7 million. Looking ahead, 3U HOLDING projects continued growth and affirms its 2024 guidance, anticipating a revenue forecast between EUR 58 million to EUR 62 million. The company also aims to have an EBITDA margin between 7% and 8% for the year.