Quarterly report Q1 2024 published

Kölleda, 29 May - Funkwerk AG, one of the leading technology providers of professional communication, information and security systems as well as technical services, achieved a Group-wide increase in turnover of 15.8 % to 32.4 million euros in the first three months of 2024 compared to 28.0 million euros in the same period of the previous year. Around EUR 3 million of the increase was due to the expansion of the scope of consolidation: firstly, the Polish company Radionika Sp. z o.o., which has been consolidated since 1 June 2023, is not included in the comparative figures, and secondly, Elektrotechnik und Elektronik Oltmann GmbH, Berlin, has been included in the consolidated financial statements since March 2024. The company completes the Funkwerk product portfolio in the LED indicator segment.

Incoming orders in the Group increased quarter-on-quarter from EUR 39.4 million to EUR 47.9 million, while the Group-wide order backlog amounted to EUR 188.8 million at the end of March 2024 (31 March 2023: EUR 164.1 million).

At EUR 2.5 million (previous year: EUR 4.0 million), the operating result (EBIT) was in line with expectations. Earnings development in the first three months of 2024 was characterised by the generally subdued economic situation, the significant increase in costs over the course of the year and the internal expenses for the transformation of Funkwerk's Security Solutions division. This is gradually being organised as a holistic system integrator for complex systems in all safety technology sectors.

The net assets and financial position of the Funkwerk Group, which had 733 employees (excluding trainees; previous year: 640) at the end of March, remained good: The equity ratio on the reporting date was % 58.0 (31 Dec. 2023: % 57.8) and cash and cash equivalents amounted to EUR 36.6 million (31 Dec. 2023: EUR 40.7 million). The development of individual balance sheet items compared to the end of 2023 was within the usual range and reflects the typical course of business in the first quarter.

For 2024 as a whole, Funkwerk is forecasting consolidated revenue in the range of €158 million to €165 million and EBIT of between €18 million and €20 million. The persistently difficult geopolitical situation poses significant risks to business development, meaning that the forecast is subject to a high degree of uncertainty.