SHERIDAN, WYOMING – November 25, 2024 - technotrans SE, a global leader in thermal management solutions, reported stable performance in the first nine months of 2024 despite a challenging macroeconomic environment. The company achieved consolidated revenue of €175.5 million and an EBIT margin of 4.3%. While navigating economic headwinds, technotrans continues to drive its ttSprint efficiency program and focus on growth opportunities, particularly in the Energy Management sector.
Solid Performance in a Challenging Market
Despite a decline in revenue compared to the previous year, technotrans demonstrated resilience in the face of economic challenges. The company's Energy Management focus market achieved impressive growth of 27%, driven by increasing demand for thermal management solutions in electric vehicles and data centers.
"technotrans achieved a stable performance in the third quarter of 2024 - despite a difficult economic environment - and remained on track in the nine-month period," said Michael Finger, CEO of technotrans SE. "This was due in particular to the continued high revenue growth in the Energy Management focus market, strong service business and first positive effects of the ttSprint efficiency program."
Key Highlights and Achievements
- Energy Management Successes: technotrans secured significant orders for battery thermal management systems (BTMS) for electric buses and converter stations for rail transport. The company also expanded its presence in the data center sector, establishing a framework agreement for series production with a US customer.
- Plastics Focus Market Growth: technotrans secured an exclusive supplier contract for temperature control systems in battery production for a German car manufacturer.
- ttSprint Efficiency Program Progress: technotrans continued to implement its efficiency program, achieving all milestones set in the reporting period. The program is expected to be completed by the end of 2024.
Change in Management Board
Robin Schaede, Member of the Board of Management, resigned for personal reasons. Natascha Sander, Head of Group Controlling, will serve as interim-CFO during the transition period.
Forecast and Outlook
In light of the current economic climate, technotrans has specified its forecast for the 2024 financial year, expecting revenue at the lower end of the €245 million to €270 million range, with an EBIT margin at the lower end of the 5.5% to 7.5% range.
The company also adjusted its medium-term forecast for 2025, anticipating consolidated revenue in the range of €245 million to €265 million and an EBIT margin of 7.0% to 9.0%.
"We have achieved important sales successes in the first 9 months and adapted the Group's cost structure to future challenges," said Michael Finger. "With our new market-oriented organizational structure, we are well equipped for the future."
About technotrans SE
technotrans SE is a global technology and service leader in the field of thermal management solutions. The company develops, produces, and markets innovative systems and components for various industries, including printing, plastics processing, laser technology, healthcare & analytics, and energy management. With a focus on customer-centric solutions and sustainable technologies, technotrans helps its customers optimize their processes and achieve their business goals.