Brockhaus Technologies AG Reports Growth in First Quarter of 2024

Brockhaus Technologies AG announced a substantial revenue and earnings increase in the first quarter of 2024. The technology group's revenue rose by 18.5% to €39.6 million, with adjusted EBITDA climbing 18.0% to €11.4 million compared to the same period last year. This growth aligns with the company's expectations and supports their forecast for the year.

Their subsidiary, Bikeleasing, saw a revenue increase of 28.7%, and its corporate customers on the digital platform surged to 62,000, marking a 32.4% rise over the past twelve months. Brockhaus also highlighted the completion of a major overhaul meant to boost production efficiency at their IHSE segment, although it reported a revenue dip of 12.5% due to reduced output during the period.

The company's net debt was significantly reduced to 0.65 times the adjusted pro forma EBITDA, illustrating robust financial health and strategic debt management. Brockhaus is confident about maintaining its growth trajectory, projecting its annual revenue will reach between €220 million and €240 million, with adjusted EBITDA expected to be between €80 million and €90 million.

The firm's optimistic outlook is further bolstered by a strong order backlog at IHSE and a promising increase in revenue from its Americas region expected later in the year. Brockhaus aims to capitalize on global digitalization trends and heightened cybersecurity demands.