Bertrandt AG: FY 2024/2025 forecast changed; preliminary figures for H1/Q2 2024/25 meet market expectations

Ehningen (pta028/13.05.2025/13:05 UTC+2)

Against the backdrop of increasingly volatile conditions in the automotive sector, caused for example by global trade disputes and the resulting reduced predictability for the further course of business, the extent and timing of the market recovery and improvement in capacity utilization in the second half of 2024/2025 anticipated in the previous forecast can be estimated less reliably than before.

The Management Board of Bertrandt AG has therefore today reviewed the forecast for fiscal 2024/2025 last published in the report on the first quarter of fiscal 2024/2025 (p. 4) on February 13, 2025 and adjusted it to the changed conditions:

• After previously forecasting a moderate** decline in total sales of up to 10% (previous year: EUR 1,186.884m), a significant** decline of more than 10% compared to the previous year is now expected.
• The previous forecast of a significant** increase in EBIT (previous year: EUR -98.046m) has been changed to the effect that there is uncertainty regarding the positive earnings level, which in this respect represents a restriction of the previous forecast.
• The expectations for EBIT development in the segments remain unchanged. However, total sales in Digital Engineering (previous year: EUR 610.603m) and Physical Engineering (previous year: EUR 264.207m) is now expected to decline significantly** in each case (previously: moderately**). In the Electric/Electronics, total sales is now expected to be moderately** higher (previously: lower) than in the previous year (EUR 433.652m).
• The previous forecast for cash flow from operating activities (previous year: EUR 76.884m) remains unchanged (significant decline, but in positive territory).

Business performance in the first half of the year and in the second quarter of 2024/2025 as well as the key performance indicators of total sales and EBIT are in line with consensus forecasts*:

• The Bertrandt Group's total revenues amounted to around EUR 250 million in the second quarter of 2024/2025 (consensus*: EUR 251 million, previous year: EUR 318 million). In the first half of 2024/2025, total revenues amounted to around EUR 516 million (consensus*: EUR 517 million, previous year: EUR 627 million).
• EBIT amounted to around EUR -12 million in the second quarter of 2024/2025 (consensus*: EUR -12.2 million, previous year: EUR 8.5 million). In the first half of 2024/2025, EBIT amounted to around EUR -14 million (consensus*: EUR -14.3 million, previous year: EUR 22.0 million).
• The development in the segments is as follows:

1. Digital Engineering
   • H1 2024/2025: Total sales EUR 232 million (previous year EUR 308 million), EBIT EUR -11 million (previous year EUR 11 million)
   • Q2 2024/2025: Total sales EUR 107 million (previous year: EUR 159 million), EBIT EUR -9 million (previous year: EUR 4 million)
2. Physical Engineering
   • H1 2024/2025: Total sales EUR 109 million (previous year: EUR 138 million), EBIT EUR -15 million (previous year: EUR -6 million)
   • Q2 2024/2025: Total sales EUR 53 million (previous year EUR 68 million), EBIT EUR -8 million (previous year EUR -4 million)
3. Electric/Electronics
   • H1 2024/2025: Total sales EUR 248 million (previous year EUR 227 million), EBIT EUR 12 million (previous year EUR 17 million)
   • Q2 2024/2025: Total sales EUR 137 million (previous year: EUR 114 million), EBIT EUR 5 million (previous year: EUR 9 million)

The Group's free cash flow amounted to around EUR 28 million after 6 months in the 2024/2025 financial year (previous year: EUR 42.9 million) and to around EUR -11 million in the second quarter (previous year: EUR 13.6 million).

In the current market environment, the "Fit for Future" earnings optimization program initiated in the previous financial year 2023/2024 continued to be systematically implemented. As expected, key measures were completed by the end of the second quarter of 2024/2025. The expected significant savings of around EUR 70-90 million per year are already taking effect in part and should be fully effective from the 2025/2026 financial year, with the upper end of the range likely to be realized from today's perspective.

The half-year report 2024/2025, which also contains information on the second quarter, will be published as planned on May 15, 2025.

*Consensus: Analyst consensus as of May 12, 2025. This is available at the following link on the Bertrandt homepage: https://www.bertrandt.com/en/company/investor-relations/financial-data

**Definitions for the forecast:

Total Sales

• Moderate change 0% to 10%
• Significant change >10%

EBIT

• Moderate change 0% to 10%
• Significant change >10%

The terms "total sales", "EBIT" and "free cash flow" are defined in the glossary, which can be accessed via the following link on the Bertrandt homepage: https://www.bertrandt.com/en/company/investor-relations/financial-reports/glossary

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Emitter:	Bertrandt AG Birkensee 1 71139 Ehningen Germany
Contact Person:	Björn Voss
Phone:	0703465613076
E-Mail:	bjoern.voss@bertrandt.com
Website:	www.bertrandt.com
ISIN(s):	DE0005232805 (Share)
Stock Exchange(s):	Regulated Market in Frankfurt; Free Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate