Quarterly report Q3 2022 published

Kölleda, 29 November 2022 - Funkwerk AG, one of the technologically leading providers of innovative communication, information and security systems, achieved an increase in sales in the first nine months of 2022. Group sales 79.7 million after € 88.5 million in the same period of 2021. The high prior-year figure was mainly due to orders resulting from the government subsidy to convert train radio terminals to interference-resistant GSM-R systems. At Funkwerk, this led to extraordinary special revenue in the train radio business unit.

The Incoming orders of the Funkwerk Group, including the share of Hörmann Kommunikation & Netze GmbH (KN), Kirchseeon, which has been consolidated since 1 August 2022, increased to €99.6 million in the reporting period (previous year: €88.7 million). In addition to further orders as part of the funding programme, which runs until the end of 2022, this also includes larger projects in the areas of passenger information and video systems. The Group-wide Order backlog amounted to €169.6 million as at 30 September 2022 (previous year: €75.9 million). The number of people employed by the Funkwerk Group Employees increased from 459 to 649 employees (including trainees) as at the reporting date, 193 of whom were employed by KN at the end of September 2022.

The Operating result (EBIT) remained below the previous year's figure in the reporting period at 15.1 million euros (previous year: 21.8 million euros), but was in line with planning. It was characterised by global supply bottlenecks, supply chain disruptions and price increases, which were significantly exacerbated by the war in Ukraine. However, the gross profit margin improved slightly compared to the 2021 period.

The Net assets and financial position of Funkwerk AG remained solid: as at the reporting date, the company had an equity ratio of € 53.9 1TP9k (31/12/2021: € 58.4 1TP9k) and cash and cash equivalents of € 44.7 million (31/12/2021: € 76.0 million).

The sales and earnings forecast of the Funkwerk Group, which has been expanded to include KN since August, for the Full year 2022 was confirmed despite the currently very difficult conditions. Accordingly, Group sales are expected to be in the range of € 130 million to € 135 million (2021: € 122.5 million) and the operating result (EBIT) between € 22 million and € 25 million (2021: € 35.0 million). In addition to the uncertain economic development and challenges in the supply chain, the massive rise in energy prices poses high risks.