Preliminary figures for the 2023 annual financial statements

Kölleda, 19 March 2024 - Funkwerk AG, one of the leading technology providers of innovative communication, information and security systems as well as technical services, was able to continue its positive business performance in 2023 and is expected to exceed the target figures updated in November. According to preliminary, as yet unaudited figures, Group sales increased by around 18 % year-on-year to around EUR 156 million (previous year: EUR 132.1 million) and were therefore above the forecast range of EUR 147 to 152 million. At around EUR 27 million, the operating result also developed better than announced, but remained below the previous year's figure of EUR 28.3 million, as expected. Net profit for the year is likely to fall from EUR 19.5 million to around EUR 18 million.

The increase in sales in 2023 is due both to above-target growth in individual business areas and the enlarged scope of consolidation. On the one hand, the Polish company Radionika Sp. z o.o. in Krakow, which operates in the field of train radio and in which Funkwerk held a stake of 60 %, has been consolidated for the first time since 1 June 2023. Secondly, Hörmann Kommunikation & Netze GmbH, which was acquired in 2022 and covers the technical services division within the Funkwerk Group, was consolidated for the full year for the first time in the reporting year, while only five months were included in the previous year's financial statements.

Incoming orders in the Funkwerk Group increased to around € 177 million in 2023 (previous year: € 138.9 million). This growth was also partly due to the expanded scope of consolidation. The Group-wide order backlog amounted to around EUR 173 million as at the reporting date (31 December 2022: EUR 152.7 million).

The Funkwerk Group's complete consolidated financial statements for 2023 are expected to be published on 25 April 2024.