On 29th of November 2024, Secop Group Holding GmbH announced its financial results for the third quarter 2024.
In Q3-2024, Secop achieved an Internal Adjusted EBITDA on the same level as in the previous year's quarter, while Net Sales exceeded the same period of 2023. The Contribution Margin in % of Net Sales remained on the level of the preceding quarter and thereby stayed below Q3-2023 due to slightly higher commodity prices and ramp-up costs for the BD Nano production. EBIT and Net Income ended below previous year's level mainly due to non-operational one-off costs and higher deferred tax expenses compared to Q3-2023.
Net Sales of Q3-2024 reached EUR 64,6m, which significantly surpassed previous year's level (Q3-2023: EUR 57,9m). This increase is mainly driven by the Mobile Cooling segment thanks to an increased demand from the eCar business in China. In the Stationary Cooling segment, Net Sales were on the same level as in previous year's quarter. With 24,8%, the Contribution Margin in % of Net Sales remained on the level of Q2-2024 and could not repeat the increase of previous year's quarter (Q3-2023: 26,8%). The Internal Adjusted EBITDA ended at EUR 5,4m; the higher demand from the Mobile Cooling segment could compensate the lower margin and lower R&D-grants and -capitalization compared to previous year (Q3-2023: EUR 5,4m). With EUR 0,4m, the EBIT ended below last year's quarter (Q3-2023: EUR 1,8m), following higher Depreciation & Amortization and higher non-operational one-off costs. The Net Income in Q3-2024 carried higher deferred tax expenses and finished at EUR -4,5m (Q3-2023: EUR -1,3m).
For more details, please refer to the Interim Report Q3-2024 on www.sg-holding.net.
For additional information, please contact:
Secop Group Holding GmbH
Lise-Meitner-Straße 29
24941 Flensburg
Germany
Tel: +49 461 4941 0
e-mail: IR@secop.com
About Secop:
Since September 2019, Secop Group has belonged to the ESSVP IV fund, advised by Orlando Management AG, a leading investor in industrial businesses. Since its acquisition, the company re-focused its strategy to the core business: design and manufacturing of hermetic compressors and electronic controls for refrigeration solutions used in light commercial and DC-powered applications.
