10. Mai 2021, 08:30 Uhr | Tobias Schlichtmeier
Hannes Niederhauser is CEO at S&T Group, to which Kontron belongs.
S&T AG started the first quarter with a positive result. Sales grew by 9 percent compared to the previous year. In addition, there was a strong order intake.
S&T AG, which includes Kontron, has successfully completed Q1 of 2021 and fulfilled Expectations in terms of net income – despite the fact that the quarter saw delays to deliveries as a consequence of the current chip shortage. Compared to the previous year, revenues increased by 9 % to 294.1 million euros (Previous year: 270.1 million euros) and EBITDA increased during the same period by 12.8 % to 28.2 million euros. Earnings per share rose by 7.6 % to EUR 16 Cents. Operating cash flow was minus 26.8 million euros, which is due mainly to the increase in inventory and the reduction of factoring by 20.5 million euros. Factoring was reduced to avoid negative interest rates with regards to the high liquidity. Adjusted to the decline in factoring, the operating cash flow is now minus 6.3 million euros.
S&T started the year 2021 with a strong order intake of 404 million euros and expects significant revenue growth for the remainder of 2021. Inventories were built up by around 11 million euros in the first quarter to bridge the supply bottleneck for microchips. This resulted in a burden on cash flow in the first quarter. In addition, the global rethink in terms of climate targets and sustainability is having a positive impact on the economy and S&T Group. Digitalisation continues to advance and smart factories with their intelligent machines make it possible to conserve resources more during production as well as manufacture more locally. Infrastructure investments in e-mobility, smart trains, smart energy and smart cities not only strengthen the economy but also increase the quality of life. S&T Group is already very well positioned in these growth markets from a technological standpoint, and, with a liquidity level of 278.4 million euros, is well equipped to grow as the markets expand.
Hannes Niederhauser, CEO, has a positive outlook for the future: »The strong increase in order intake of 404 million euros in Q1 makes me optimistic that we will achieve or exceed our full-year target of at least 1,400 million euros in revenue with an EBITDA of at least 140 million euros and earnings of 1 euro per share«.