- Significant sales increase by 33,6% to €2.0 billion year-on-year
- Substantial growth of adjusted EBIT and adjusted EBITDA of around 19% to €113 million and €125 million, respectively
- Order intake amounted to €2.4 billion
- Positive outlook: Growth strategy "Pathway to Ten" aiming at sales of €10.0 billion by 2027 is successfully advanced - planned sales of around €8.0 billion envisaged for 2023
STUTTGART, Germany, May 23, 2023 /PRNewswire/ -- Exyte GmbH (Exyte), a global leader in the design, engineering, and delivery of high-tech facilities, achieved strong results in the first quarter of 2023.
Following another record level year 2022, Exyte starts into the first quarter 2023 with sales considerably increasing by more than a third year-on-year to €2.0 billion (Q1/2022: €1.5 billion). The order intake amounted to €2.4 billion (Q1/2022: €2.6 billion). The financial earnings of Exyte increased with an adjusted EBIT of €113 million (Q1/2022: €95 million) and an adjusted EBITDA of €125 million (Q1/2022: €105 million), an increase of around 19% each compared to previous year. The adjusted EBIT margin was 5.6% while the adjusted EBITDA margin was 6.2%.
"Following our record results in 2022, we had a very successful first quarter 2023. We are perfectly positioned for profitable growth also this year and beyond. In the first three months of 2023 our Global Business Units have been awarded with major projects in our key industries in all regions we are active in. Our clients continue to invest based on long-term planning, irrespective of short-term economic developments," says Dr. Wolfgang Büchele, CEO of Exyte.
Outlook: positive outlook for financial year 2023
Peter Schönhofer, CFO of Exyte, states: "Our goal remains to increase our sales to around €10 billion in 2027. We are successfully advancing with our growth strategy 'Pathway to Ten' supported by our 'Next Level' future agenda. Based on our robust results in the first quarter 2023 and our high order backlog, we expect a sustainable positive outlook for the fiscal year 2023 with envisaged sales around €8.0 billion." It is anticipated that incoming orders will reach the same high level as in the previous year, with an expected increase in earnings on the back of the positive sales development.
Development of business segments: sales growth in all segments; order intakes on high level
In the first three months of 2023, sales of the Advanced Technology Facilities segment rose over a third to €1.8 billion (Q1/2022: €1.3 billion). The order intake once again reached a high-level, amounting to €2.1 billion (Q1/2022: €2.3 billion). Exyte anticipates consistent increase of semiconductor and battery cell manufacturing due to the continuous rise in demand for these products. Major investments in these industries are also driven by financial support from governments, e.g., the European Chips Act and the US CHIPS and Science Act as well as the Inflation Reduction Act.
In Germany, Exyte has built the country's first so called gigafab for battery cell production for one of the largest battery manufacturers in the world. Furthermore, Exyte has been awarded significant projects in the semiconductor industry in Germany, the US and Southeast Asia, amongst others.
The Biopharma & Life Sciences segment recorded an increase in sales of almost 12% compared to the prior year reaching €141 million (Q1/2022: €126 million). Sales development was driven by the execution of projects in Germany, Malaysia, and Singapore. Incoming orders significantly rose by almost 70% to €140 million (Q1/2022: €83 million). In the US, Exyte has been awarded a renovation project by a leading biotechnology company. Moreover, Exyte successfully completed a mRNA vaccine fast-track production facility for Everest Medicines in Asia recently. It took only 13 months from the design phase to the operational qualification and handover to the client. This was made possible through a fast-track approach in close collaboration with the client.
Sales of the Data Centers segment grew by more than 82% reaching €93 million (Q1/2022: €51 million). The very positive sales development is driven by multiple ongoing projects in Denmark, Israel, and Malaysia. A strong sales pipeline will also drive the order intake to new heights.
The business area Technology & Services which consists of several entities providing cleanroom technology, installation services, and critical equipment for subsystems of its clients as well as off-site manufacturing (OSM) increased its sales by nearly 20% year-on-year to €207 million (Q1/2022: €173 million) while incoming orders rose to €312 million (Q1/2022: €293 million).
Development of regions: shift from East to West
The largest share of the revenue in the first quarter of 2023 came from projects in the APAC region. However, the positive sales development was also supported by sales in the US, which increased by more than 160%. "In terms of incoming orders, we can already see that the share of US and EMEA in our business will gradually increase, also driven by government subsidy programs that our clients take into account when making location decisions," says Büchele. Especially clients of the Advanced Technology Facilities business segment benefit from subsidies for the semiconductor and battery cell industries. As a result, the regional distribution of sales will change not only in the current year but also in the coming years. "Of course, to manage this business shift from East to West is an ongoing challenge for the whole organization. Recently established and harmonized tools and applications, as well as the flexibility and mobility of our employees provide us with a robust foundation to master this", Büchele adds.
Key financial figures at a glance
Q1/2023 | Q1/2022 | Change 2023 vs. | ||||
Order Intake | €2.4 bn | €2.6 bn | -8.9 % | |||
Sales | €2.0 bn | €1.5 bn | +33.6 % | |||
Adjusted EBITDA | €125 m | €105 m | +19.0 % | |||
Adjusted EBITDA Margin | 6.2 % | 6.9 % | -0.7 PP | |||
Adjusted EBIT | €113 m | €95 m | +18.9 % | |||
Adjusted EBIT Margin | 5.6 % | 6.4 % | -0.7 PP | |||
* The percentage is calculated based on the values in million. | ||||||
For more details about our Q1-results 2023 please visit our website.
About Exyte
Exyte is a global leader in the design, engineering, and delivery of ultra-clean and sustainable facilities for high-tech industries. With cutting-edge expertise developed over more than a century, the company serves clients in the sophisticated markets of semiconductors, battery cells, pharmaceuticals, biotechnology, and data centers. Exyte offers a full range of services from consulting to managing the implementation of turnkey solutions with the highest standards in safety and quality to its customers worldwide. Exyte creates a better future by enabling key industries to enhance the quality of modern life. In 2022, the company generated sales of €7.4 billion with around 9,000 employees worldwide.
Contact
René Ziegler
Vice President Corporate Communications
& Investor Relations
+49 711 88044606
+49 172 5838786
rene.ziegler@exyte.net
www.exyte.net
Logo - https://mma.prnewswire.com/media/1487100/Exyte_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/strong-first-quarter-2023-sales-of-exyte-increases-by-a-third-year-on-year-to-2-0-billion-euros-301831954.html
