Brockhaus Technologies AG Reports Strong Financial Growth in Q1 2024

Brockhaus Technologies AG announced a substantial increase in its financial performance for Q1 2024 on May 7. The company reported an 18.5% rise in revenue, totaling €39.6 million, and an 18.0% increase in adjusted EBITDA, reaching €11.4 million with a margin of 28.7%. Adjusted EBIT also saw a significant boost of 18.3% to €10.2 million. In comparison, the pro forma basis used for Q1 2023 due to that year's acquisitions showed a smaller increase of 4.0% in adjusted EBITDA and 2.9% in adjusted EBIT.

Brockhaus Technologies’s Financial Technologies segment reported varied impacts due to normalized seasonality and last year's extraordinary conditions. Meanwhile, the Security Technologies segment experienced a revenue decline of 12.5% to €7.3 million mainly due to a major two-week production overhaul. Despite these disruptions, the company has maintained its full-year forecast, expecting revenue between €220 million and €240 million and adjusted EBITDA between €80 million and €90 million for fiscal year 2024.

The firm noted that unseasonably dry conditions last year and the consequences of the COVID pandemic had earlier led to irregularities in bike leasing, but normalcy in bike availability was restoring typical business patterns. The company’s strategies for long-term growth include increased automation to enhance production efficiency.

Both the preliminary financial figures and the upcoming quarterly report for Q1 2024 slated for release on May 15 underline the company's robust start to the year despite some operational shifts.