PAUL Tech AG: Preliminary figures for the financial year 2022 and for the first half of 2023 – strong growth and positive outlook

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PAUL Tech AG: Preliminary figures for the financial year 2022 and for the first half of 2023 – strong growth and positive outlook

• Net sales increased to EUR 26.1 million in the 2022 financial year (2021: EUR 10.1 million)
• Adjusted EBITDA (adjusted for special /non-recurring expenses) for 2022 at EUR 10.5 million (2021: EUR 6.9 million)
• Order intake increased to EUR 37.1 million in the first half of 2023 (H1 2022: EUR 7.5 million) with over 600 new projects.
• Net sales increase of over 100% in the first half of 2023 compared to the first half of 2022
• Historically good start to the second half of the year and full order pipeline
• IFRS conversion in 2023

Mannheim,  27.07.2023 – PAUL Tech AG (the "Company" or "PAUL") looks back on a very successful financial year 2022 and a strong first half of 2023. Based on preliminary, unaudited figures, the innovative solution provider for the digital transformation of the building industry generated net sales of EUR 26.1 million in the 2022 financial year (2021: EUR 10.1 million). EBITDA adjusted for special /non-recurring expenses for the 2022 financial year amounted to EUR 10.5 million (2021: EUR 6.8 million). In the first six months of 2023, the company recorded an order intake of EUR 37.1 million (H1 2022: EUR 7.5 million). This consists of fixed components in the amount of EUR 25.2 million and variable components of EUR 11.9 million. At the beginning of the second half of 2023, growth accelerated significantly once again. The driver is the need for accelerated decarbonisation, which is reflected both in the legal requirements for short- and medium-term energy supply and is fuelled by the EU taxonomy. It is imperative that the ESG ratings of buildings be improved in order to maintain refinancing and profitability. The topic of "stranded assets" occupies the majority of customers enormously.

"The results of the past year, the first half of the year and the full order pipeline show that we have a decisive answer to the challenges in the real estate sector with our solution portfolio. With sensors, actuators and artificial intelligence, PAUL revolutionizes heating and hot water systems in a minimally invasive way and optimizes energy consumption almost in real time. In the short term, PAUL thus contributes to reducing the influence of energy costs on rising ancillary housing costs and, in the long term, is an essential component for achieving climate targets in the real estate industry," says Sascha Müller, founder and CEO of PAUL Tech AG, commenting on the company's development.

The fact that PAUL received the German Real Estate Award in the "Industry Pioneer" category in May 2023 was another highlight in the first half of the year and additional proof of the uniqueness of the solution offering.

The annual financial statements for the 2022 financial year will be published in August.

The company is expected to publish its full half-year financial statements for the first six months of 2023 on October 31, 2023. 

The company is converting its accounting to International Financial Reporting Standards (IFRS) and, in this context, will publish consolidated figures of the PAUL Group for the first time in the 2023 half-year financial statements. By switching to IFRS, the company intends to align its financial reporting with globally recognized standards.

Disclaimer:

This document and its contents do not constitute an offer to sell or a solicitation of an offer to buy or subscribe for securities. A public offering of securities of PAUL Tech AG does not take place and is not planned. The distribution of this document may be subject to legal restrictions in certain jurisdictions. Persons who come into possession of this document are urged to inform themselves about such restrictions and to comply with them. Failure to comply with such restrictions may constitute a violation of the securities laws of the relevant jurisdiction.

This document contains "forward-looking statements". Forward-looking statements are all statements that do not describe facts of the present or the past, but are identified by words such as "estimates", "potential" and words with similar meanings. These forward-looking statements are subject to various risks and uncertainties, as they relate to future events and are based on current assumptions and estimates of PAUL Tech AG, which may not occur at all or may not occur differently than expected. The actual financial position and results of PAUL Tech AG, as well as the overall economic development and regulatory environment, may differ materially from or do not correspond at all to the expectations directly or indirectly reflected in the forward-looking statements. PAUL Tech AG assumes no liability for the actual occurrence of forward-looking statements. Therefore, investors are cautioned not to base their investment decisions with respect to PAUL Tech AG on the forward-looking statements contained in this document.

Press contact
Nicole Messmer-Pohan,

Press Spokesperson

Theodor-Heuss-Anlage 12

68165 Mannheim

Telephone  +49 621 92 100 141
Mobile  +49 151 56287178
Email: nicole.messmer-pohan@paul.tech

About PAUL Tech AG

PAUL is the specialist for the digital transformation of the real estate industry. PAUL Tech AG has initiated a change process and is managing to make existing buildings CO2 neutral with the help of artificial intelligence, with little investment and without any loss of comfort for the residents. Investors and operators rely on PAUL to make their properties future-proof and competitive. PAUL currently serves more than 80 companies in the real estate industry with more than 100,000 residential units.

www.paul.tech