UET United Electronic Technology AG continues profitable growth in first half year 2023

• Sales growth in the first half 2023 of 70% to 34.4 million EUR
• EBIT positive at 3.6 million EUR that is 5.4 million EUR higher than in the same period 2022
• Order backlog of 57.7 million EUR at its highest level since 2010
• Double-digit growth expected for full fiscal year 2023

UET United Electronic Technology AG (ISIN: DE000A0LBKW6), Eschborn, increases sales and earnings in the first half of the financial year 2023. With strong demand for systems and services for the expansion of communication infrastructure for fixed and mobile networks, including critical infrastructure, the company achieved revenue growth of 70% in the first six months of fiscal year 2023. The consolidated half-year revenue of the UET Group amounts to 34.352 mn EUR, compared to 20.215 mn EUR in the first half of 2022.

Operating earnings before interest and taxes (EBIT) is 3.585 mn EUR in the first half of the year. In the first six months, EBIT increased by 5.442 mn EUR compared to the same period of the previous year (previous year: -1.857 mn EUR). Growth and the completed supply chain resilience project contributed to the increase in earnings.

Order backlog rose again at the end of the period and amounted to 57.7 mn EUR as of June 30, 2023. For the UET Group, this is the highest value since 2010. By comparison, it amounted to 52.5 mn EUR at the end of December 2022.

For the full year 2023, the UET Group continues to plan for double-digit sales growth and a positive operating result, higher than in the previous year.

"In the current year, we are satisfied with the development of orders and earnings as well as with new projects in Europe and Latin America, and we have continued to invest in new technologies and supply chain capacities," says CEO Werner Neubauer.

The medium-term potential is positive. “Our customers continue to upgrade their networks. Network innovations with our focus areas network security, energy efficiency and sustainability in network operations are becoming increasingly relevant in the telecommunications industry.”

About UET United Electronic Technology AG

UET United Electronic Technology AG is an international technology supplier and network equipment provider headquartered in Eschborn near Frankfurt. The UET Group and its companies enable the construction and operation of high-performance gigabit networks with the key elements of energy efficiency, sustainability and network security. Systems and services are used by customers such as Deutsche Telekom, Orange, Telecom Italia, A1 Telekom Austria and América Móvil. The UET Group is the only international system supplier for critical communications infrastructure with European research, development, production and supply chain and headquarters in Germany. The UET Group has been listed on the German Stock Exchange since 2006, with 250 employees in eight countries generating revenues of approximately 49 million EUR in 2022, with a growth of 18%.

Contact:

UET United Electronic Technology AG

D-65760 Eschborn, Frankfurter Straße 80-82

Sebastian Schubert, Investor Relations

Tel: + 49 (0) 6196 7777550

E-Mail: investor@uet-group.com