Highlights third quarter 2024
- Turnover of €393.3 million (6.2% organic decline vs. Q3 20231).
- EBITA excluding one-off income and expenses of €42.1 million (13.8% organic decline vs. Q3 20231).
- Smart Manufacturing performed strongly, as did Smart Vision in a challenging market environment. Smart Connectivity was negatively impacted in the short term by the postponement of the ramping-up of serial production at the new plant in Eemshaven for offshore wind cables and the destocking at Digitalization.
- Continued high added value at 51.5% (Q3 2023: 49.0%) due to strategic focus.
- Good order intake and sales funnel support good order book by year-end.
- Outlook adjusted to reflect Q3 results: full-year 2024 EBITA, excluding one-off income and expenses, to amount to between €200 million and €210 million.
First nine months 2024
- Year-to-date turnover decreased to €1,260.5 million (- 3.1% organically), with EBITA amounting to €137.9 million (- 12.1% organically).
- ROS for the first nine months reached 10.9% (2023: 12.4%).
Alexander van der Lof, CEO of TKH: "We made good progress preparing for growth and accomplished most of the milestones we set. Our focus here is on gaining market share within Smart Vision and on building a strong order book by the end of the year to grow the offshore wind position in line with our Accelerate 2025 targets. Our €15 million cost savings program is well on track and, together with the planned higher capacity utilization, will support margin growth.
We saw a negative effect on turnover and results in Q3, mainly in Smart Connectivity, due to higher-than-expected destocking effects in Digitalization and our decision to delay the ramp-up of the serial production of offshore wind cables in our new plant in Eemshaven. This resulted in lower turnover, which, together with higher costs in Q3, are impacting the outlook for the whole year. Based on a good order book, we expect Q4 EBITA to be in line with our previous expectations and substantially higher than Q3.
We are well positioned to take advantage of the megatrends. It is exciting to see how the sales funnel is developing and our unique technologies and our systems selling approach are positioning us to win business and gain market share."
Presse release:
https://www.tkhgroup.com/news/q3-2024-market-update
- Turnover of €393.3 million (6.2% organic decline vs. Q3 20231).
- EBITA excluding one-off income and expenses of €42.1 million (13.8% organic decline vs. Q3 20231).
- Smart Manufacturing performed strongly, as did Smart Vision in a challenging market environment. Smart Connectivity was negatively impacted in the short term by the postponement of the ramping-up of serial production at the new plant in Eemshaven for offshore wind cables and the destocking at Digitalization.
- Continued high added value at 51.5% (Q3 2023: 49.0%) due to strategic focus.
- Good order intake and sales funnel support good order book by year-end.
- Outlook adjusted to reflect Q3 results: full-year 2024 EBITA, excluding one-off income and expenses, to amount to between €200 million and €210 million.
First nine months 2024
- Year-to-date turnover decreased to €1,260.5 million (- 3.1% organically), with EBITA amounting to €137.9 million (- 12.1% organically).
- ROS for the first nine months reached 10.9% (2023: 12.4%).
Alexander van der Lof, CEO of TKH: "We made good progress preparing for growth and accomplished most of the milestones we set. Our focus here is on gaining market share within Smart Vision and on building a strong order book by the end of the year to grow the offshore wind position in line with our Accelerate 2025 targets. Our €15 million cost savings program is well on track and, together with the planned higher capacity utilization, will support margin growth.
We saw a negative effect on turnover and results in Q3, mainly in Smart Connectivity, due to higher-than-expected destocking effects in Digitalization and our decision to delay the ramp-up of the serial production of offshore wind cables in our new plant in Eemshaven. This resulted in lower turnover, which, together with higher costs in Q3, are impacting the outlook for the whole year. Based on a good order book, we expect Q4 EBITA to be in line with our previous expectations and substantially higher than Q3.
We are well positioned to take advantage of the megatrends. It is exciting to see how the sales funnel is developing and our unique technologies and our systems selling approach are positioning us to win business and gain market share."
Presse release:
https://www.tkhgroup.com/news/q3-2024-market-update
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