- Revenue growth (Continued Operations) first 9 months of 9.6% to EUR 755.0 million (PY: EUR 688.5 million)
- Adjusted net income up 14.3% to EUR 35.1 million (PY: EUR 30.7 million)
- Record order intake (CO) of EUR 991 million since the beginning of the year, of which EUR 319 million in Q3
Kontron AG (ISIN: AT0000A0E9W5, WKN: A0X9EJ, stock exchange symbol: KTN) has successfully completed Q3 of 2022 with solid figures and achieved another milestone on the way to becoming a pure IoT provider with the sale of a large part of its IT services business. The focus on the IoT market, which is already the largest margin earner for the Kontron Group today, promises greater growth and higher profit margins in general. The contract signed on August 10, 2022, with the French Vinci Energies Group still requires antitrust approvals, which are expected by the end of the year. Kontron predicts revenue of around EUR 400 million from the sale. The quarterly results of Continued Operations (CO) were published today, and the discontinued operations were reported in the quarterly report as Discontinued Operations (DCO) in accordance with legal requirements.
The Q3 results reflect this important transformation step and are therefore only comparable to the previous year's figures to a limited extent. At EUR 755.0 million, revenues in Continued Operations (CO) were 9.6% higher in the first nine months than in the previous year (EUR 688.5 million). In the third quarter, EUR 262.4 million revenue was generated, which represents an increase of 10.5% (PY: EUR 237.4 million). Revenue from the beginning of the year amounted to EUR 1,020.7 million including Discontinued Operations (PY: EUR 913.8 million). EBITDA from Continued Operations rose to EUR 69.5 million in the first nine months of 2022 compared to EUR 63.0 million in the same period of the previous year. Net income (adjusted for one-off costs from the “FOCUS” divestment) increased by 14.3% to EUR 35.1 million in the first nine months (PY: EUR 30.7 million). Order intake in Continued Operations (CO) shows robust growth and was well above plan in the third quarter of EUR 319.8 million for the seventh time in a row, with the book-to-bill ratio of 1.22.
Hannes Niederhauser, CEO Kontron AG: “Despite the current market environment, the results of the first nine months and our order situation make us optimistic for 2022 and 2023. We therefore expect ongoing double-digit growth for Continued Operations to around EUR 1,100 million revenue in 2022. Operating net income is expected to rise by 16% to around EUR 56 million, and the unadjusted figure following gains from the sale of IT services will be even higher. Starting in 2023, we plan to replace the lost revenue from IT services with IoT acquisitions in the short term and expect growth as well as an increase in revenue to EUR 2,000 million by 2025 with a significantly increased EBITDA margin of 13%.