technotrans SE

May 6, 2025 · Quarterly Report


# Key figures of the technotrans Group (IFRS)

| | previous year | 01/01<br>31/03/2025 | 01/01<br>31/03/2024 | 2024 |
|---------------------------------|---------------|---------------------|---------------------|---------|
| Revenue | 7.3% | 60,147 | 56,041 | 238,076 |
| Technology | 8.5% | 44,982 | 41,477 | 177,652 |
| Services | 4.1 % | 15,165 | 14,564 | 60,424 |
| EBITDA | > 100 % | 5,752 | 2,053 | 19,194 |
| EBITDA margin | % | 9.6 | 3.7 | 8.1 |
| EBIT | > 100 % | 4,032 | 392 | 12,332 |
| EBIT margin | % | 6.7 | 0.7 | 5.2 |
| Net profit for the period1 | > 100 % | 2,567 | 59 | 7,318 |
| as percent of revenue | % | 4.3 | 0.1 | 3.1 |
| ROCE | % | 14.4 | 10.3 | 11.8 |
| Earnings per share | > 100 % | 0.37 | 0.01 | 1.06 |
| Balance sheet total assets | 4.2 % | 169,246 | 167,605 | 162,457 |
| Equity* | 2.4 % | 100,680 | 95,441 | 98,361 |
| Equity ratio | % | 59.5 | 56.9 | 60.5 |
| Net debt*2 | 34.9 % | 25,015 | 24,407 | 18,548 |
| Free cash flow3 | | -5,769 | -3,007 | 8,520 |
| Employees (balance sheet date)* | -2.4 % | 1,478 | 1,560 | 1,514 |

\*Change compared to December 31, 2024

¹ Result for the period: Profit attributable to shareholders of technotrans SE ²Net debt: Interest-bearing financial liabilities including lease liabilities according to IFRS16 ./. cash and cash equivalents ³Free cash flow: Net cash from operating activities + Net cash used for investments according to cash flow statement

# Presentation of significant events and business performance in the first 3 months 2025

### Revenue performance

The technotrans Group made a strong start to the new 2025 financial year, generating consolidated 60.1 million in the first three months (previous‑year period: 56.0million). The Technology segment contributed 45.0million (previous year: 41.5million) and the Services segment 15.2 million (previous year: 14.6 million). Key drivers were revenue growth in the focus markets Energy Management, Healthcare & Analytics, and Print, as well as contributions from the successfully completed efficiency program ttSprint.

The growing demand for technotrans systems is also reflected in the order backlog, which increased 80million as of the reporting date (Dec 31, 2024: 68 million). The book‑to‑bill ratio of 1.2 likewise signals continued growth.

| | | Technology | | Services | | technotrans Group | |
|-------------|---|------------|---------|----------|---------|-------------------|---------|
| | | 3M 2025 | 3M 2024 | 3M 2025 | 3M 2024 | 3M 2025 | 3M 2024 |
| Revenue | | 44,982 | 41,477 | 15,165 | 14,564 | 60,147 | 56,041 |
| EBIT | | 1,647 | -911 | 2,385 | 1,303 | 4,032 | 392 |
| EBIT margin | % | 3.7 | -2.2 | 15.7 | 8.9 | 6.7 | 0.7 |

Dynamic development in the Energy Management focus market, fueled by the successful positioning of battery‑thermal‑management systems (BTMS) for e‑buses and rail vehicles as well as liquid‑cooling systems for data centers, continued in the first quarter. Revenue climbed sharply to 9.4 million, up24 % year on year, accounting for 16 % of consolidated revenue.

The Healthcare & Analytics focus market posted a clear revenue gain of 35 % versus the previous year, propelled by strong demand in analytics and scanner technology. Revenue increased from 3.5million to 4.8 million, contributing 8 % to Group revenue.

In the Print focus market, the stabilization of business persisted. Three‑month revenue was 10% higher than the previous year, reaching 21.0million (previous year: 19.2 million). Growth stimuli originated from the Technology segment and from the Services segment. This market accounted for 35 % of consolidated revenue.

Cyclical investment restraint continued to weigh on the Plastics focus market, where revenue fell 7% year on year to 11.8 million. The weak economic environment likewise burdened the Laser focus market: revenue of 9.6 million was 4 % below the previous‑year figure of 10.0million.

### Earnings situation

The increase in revenue in Q1 2025, the full impact of the measures of the ttSprint‑program, an imconsolidated operating result (EBIT) and the return on capital employed (ROCE). In addition, the temporary expenses for the reorganization, which had weighed on EBIT by million in the previous year, no longer applied.

Gross profit rose sharply to million (previous year: million). Thanks to efficiency improvements and optimization of our product mix in the Technology segment, the gross margin increased to 29.9 % (previous year: 25.5 %) despite a slightly lower share of service business.

Distribution costs edged down from million to million as a result of lower trade‑fair costs and personnel expenses. The decrease in administrative expenses was likewise largely attributable to reduced personnel costs.

Higher revenue, efficiency gains and a better product mix boosted earnings in the Technology segment: segment EBIT improved from - million to million year on year, yielding an EBIT margin of 3.7 %. In the Services segment, EBIT rose from million to million, driven chiefly by higher service revenue and efficiency measures; the segment EBIT margin jumped to 15.7 % (previous year: 8.9 %).

Group EBIT climbed significantly to million (previous year: million), resulting in an EBIT margin of 6.7 % (previous year: 0.7 %). ROCE reached 14.4 % (previous year: 10.3 %).

EBITDA increased from million to million, corresponding to an EBITDA margin of 9.6 %.

Consolidated profit after tax came to million (previous year: million). Earnings per share therefore surged to

### Net worth

The balance‑sheet total as of March 31, 2025 stood at 169.2 million, up 6.8 million on year‑end2024. Key drivers were investments in a plot of land in Sassenberg, a 7.1 million increase in trade receivables on the back of strong sales in March 2025, and the necessary build‑up of inventories prompted by the high order backlog. The expansion of working capital and capital expenditure on fixed assets reduced cash and cash equivalents by 7.3 million to 11.5million.

Profit after tax of 2.6 million raised equity to 100.7 million. Because of the larger balance sheet, the equity ratio slipped by 1.0percentage point to 59.5 %. The working‑capital build‑up was financed in part through higher trade payables and advance payments received.

### Financial position

The marked rise in the period result from million to million had a positive impact on the ‑sheet‑date increase in receivables and the targeted build‑up of inventories could be only partly offset, despite higher customer prepayments. Net cash used in operating activities came to - million (previous year: - million).

The purchase of a 13,000m² plot at headquarters in Sassenberg lifted the cash outflow from investing activities to - million (previous year: - million). Free cash flow therefore totaled - million (previous year: - million).

The temporary liquidity burden from working‑capital expansion and the land acquisition was financed by a short‑term loan of million. Scheduled repayments of bank loans amounting to million reduced liabilities to credit institutions to million (31 Dec 2024: million). In addition, lease liabilities of million were repaid. Cash flow from financing activities was - million (previous year: - million).

As of March 31, 2025, the technotrans Group had unused credit lines of 17.5million.

### Strategy

technotrans got off to a successful start in fiscal 2025 with its new, market‑oriented organization. The divisions created through the reorganization - each precisely aligned to the requirements of their respective markets and customers - have commenced operations smoothly, as have the Group‑wide shared‑service units that support them.

All activities take place under the Future Ready 2025 Group strategy, whose implementation is scheduled for completion in the current financial year. In parallel, preparations are already under way for the strategy period covering the next 5 years.

### Overall statement by the Board of Management on the business performance

this environment, technotrans delivered a very strong performance in the first 3 months of the financial year 2025, fully in line with our expectations. Our consistent market focus and the positive effects of the ttSprint efficiency program are now unfolding their full impact.

The Energy Management focus market achieved the largest absolute increase in revenue. Healthcare & Analytics began the new year with the highest relative revenue growth. Print likewise recorded a robust start to 2025. These positive developments more than offset the continuing cyclical pressures in the Plastics and Laser focus markets, whose revenues were - as expected - below the previous year s level.

We are very satisfied with the technotrans fiscal

#### Report on post-balance sheet date events and risk report

No events with a material impact on the technotrans have occurred since March 31, 2025.

mented risk‑management system, were described in detail in the 2024 Annual Report. Protectionist measures in the United States directed against European companies were tightened significantly in the first months of 2025. Consequently, the risk of adverse effects on revenue and earnings has risen compared with the presentation in the 2024 Annual Report. Macroeconomic and industry‑specific risks were already classified as high in that report. Apart from the points mentioned above, the ‑and‑risk profile has not changed compared with the situation described as of December 31, 2024.

## Outlook

### Expected framework conditions

In its April 2025World Economic Outlook, the International Monetary Fund (IMF) cut its global‑growth forecast: it now expects world economic output to expand by only 2.8 % in 2025, down from the previously projected 3.3 %. The downgrade reflects the US tariff increases, which burden global supply chains, shift cost structures and complicate planning. For Germany, the IMF now anticipates zero growth in gross domestic product (GDP) in 2025, followed by a modest increase of 0.9 % in 2026. Ger-2025 and GDP growth of1.0% in the following year. For the United States, the IMF foresees GDP growth of 1.8 % in 2025; for China, 4.0%. The IMF warns that rising protectionism worldwide entails risks of lower productivity and potentially higher inflation.

### Expected business development of the Group

Our outlook is unchanged from the assessment presented in the 2024 Annual Report.

We continue to assume that the measures taken by the new German federal government will gradually stabilize the domestic economy in the course of the second half of the year. At the same time, we expect persistently uncertain conditions owing to the protectionist stance of the US administration. We will closely monitor potential direct and indirect effects so as to seize opportunities early and actively counteract risks.

We anticipate differing momentum across our focus markets. In Energy Management we still expect strong growth impulses thanks to increased government support for zero‑emission mobility and the AI‑driven expansion of data centers. For Print and Healthcare & Analytics we forecast solid revenue development for the full year. By contrast, in Plastics we continue to expect restrained customer investment activity, particularly in the first half of 2025, and Laser will remain weighed down by cyclical headwinds.

We therefore confirm our guidance for fiscal 2025: Group revenue is projected to be in a range of 245million to 265 million, with an EBIT margin of 7.0% to 9.0% and a ROCE between 13.0% and16.0%.

This forecast remains subject to the proviso that no additional burdens arise from the geopolitical or macro‑economic environment.

### Consolidated Balance Sheet

| Assets |
|--------|
|--------|

| | 31/03/2025 | 31/12/2024 |
|-------------------------------|------------|------------|
| | | |
| Non-current assets | | |
| Property, plant and equipment | 36,510 | 34,863 |
| Right-of-use assets | 3,997 | 4,082 |
| Goodwill | 23,513 | 23,513 |
| Intangible assets | 3,656 | 3,995 |
| Other financial assets | 191 | 194 |
| Deferred taxes | 752 | 752 |
| | 68,619 | 67,399 |
| | | |
| Current assets | | |
| Inventories | 45,940 | 41,720 |
| Trade receivables | 38,100 | 31,022 |
| Income tax receivable | 527 | 611 |
| Other financial assets | 1,438 | 932 |
| Other assets | 3,093 | 1,963 |
| Cash and cash equivalents | 11,529 | 18,810 |
| | 100,627 | 95,058 |
| | | |
| Total assets | 169,246 | 162,457 |

#### **Equity and Liabilities**

| | 31/03/2025 | 31/12/2024 | |
|----------------------------------------------------------|------------|------------|--|
| | | | |
| Equity | | | |
| Issued capital | 6,908 | 6,908 | |
| Capital reserve | 19,097 | 19,097 | |
| Retained earnings | 77,313 | 69,995 | |
| Other reserves | -5,205 | -4,957 | |
| Net profit for the period | 2,567 | 7,318 | |
| Total equity attributable to technotrans SE shareholders | 100,680 | 98,361 | |
| Non-controlling interests in equity | 0 | 0 | |
| | 100,680 | 98,361 | |
| | | | |
| Non-current liabilities | | | |
| Borrowings | 18,038 | 20,326 | |
| Employee benefits | 1,227 | 1,202 | |
| Other financial liabilities | 2,114 | 2,181 | |
| Deferred taxes | 902 | 926 | |
| | 22,281 | 24,635 | |
| | | | |
| Current liabilities | | | |
| Borrowings | 14,394 | 12,840 | |
| Trade payables | 10,722 | 7,335 | |
| Prepayments received | 6,188 | 4,128 | |
| Employee benefits | 4,523 | 5,479 | |
| Provisions | 3,537 | 2,956 | |
| Income tax payable | 1,125 | 1,178 | |
| Other financial liabilities | 2,784 | 2,868 | |
| Other liabilities | 3,012 | 2,677 | |
| | 46,285 | 39,461 | |
| Total equity and liabilities | 169,246 | 162,457 | |

### Consolidated Income Statement

| | 01/01/ -<br>31/03/2025 | 01/01/ -<br>31/03/2024 |
|-----------------------------------------------------------------------------------|------------------------|------------------------|
| | | |
| Revenue | 60,147 | 56,041 |
| of which Technology | 44,982 | 41,477 |
| of which Services | 15,165 | 14,564 |
| Cost of Sales | -42,149 | -41,739 |
| Gross profit | 17,998 | 14,302 |
| Distribution costs | -6,516 | -6,634 |
| Administrative expenses | -5,865 | -6,025 |
| Development costs | -1,083 | -942 |
| Income/expenses from impairment losses on financial assets<br>and contract assets | -68 | 4 |
| Other operating income | 227 | 341 |
| Other operating expenses | -661 | -654 |
| Earnings before interest and taxes (EBIT) | 4,032 | 392 |
| | | |
| | | |
| Financial income | 7 | 46 |
| Financial expenses | -291 | -352 |
| Financial result | -284 | -306 |
| | | |
| Profit before tax<br>Income tax expense | 3,748<br>-1,181 | 86<br>-27 |
| | | |
| Net profit for the period | 2,567 | 59 |
| of which: | | |
| Profit attributable to technotrans SE shareholders | 2,567 | 59 |
| Profit attributable to non-controlling interests | 0 | 0 |
| | | |
| | | |
| basic / diluted | 0.37 | 0.01 |
| Overall result for the financial year | 2,319 | 168 |

# Condensed Consolidated Cash Flow Statement

| | 01/01/ -<br>31/03/2025 | 01/01/ -<br>31/03/2024 |
|---------------------------------------------------------------------------------------------|------------------------|------------------------|
| | | |
| Cash flow from operating activities | | |
| Net profit for the period | 2,567 | 59 |
| Adjustments for: | | |
| Depreciation and amortisation | 1,720 | 1,661 |
| Other | 1,421 | 298 |
| Cash flow from operating activities before working capital<br>changes | 5,708 | 2,018 |
| Change in: | | |
| Inventories | -4,220 | -1,369 |
| Receivables and other current assets | -8,711 | -1,658 |
| Liabilities and prepayments | 5,711 | 36 |
| Provisions and employee benefits | -350 | -317 |
| Cash from operating activities | -1,862 | -1,290 |
| | | |
| Other | -1,413 | -1,282 |
| Net cash from operating activities | -3,275 | -2,572 |
| Cash flow from investing activities | | |
| Cash payments for investments in property, plant and equip<br>ment and in intangible assets | -2,507 | -429 |
| Proceeds from the sale of property, plant and equipment | 13 | -6 |
| Net cash used for investing activities | -2,494 | -435 |

| | 01/01/ -<br>31/03/2025 | 01/01/ -<br>31/03/2024 |
|-----------------------------------------------------------------|------------------------|------------------------|
| | | |
| Cash flow from financing activities | | |
| Cash receipts from the raising of short-term and long-term | | |
| loans | 1,500 | 0 |
| Cash payments from the repayment of loans | -2,234 | -1,673 |
| Distribution to investors | 0 | 0 |
| Other | -659 | -645 |
| Net cash used in financing activities | -1,393 | -2,318 |
| Change in cash and cash equivalents | -7,162 | -5,325 |
| Cash and cash equivalents at start of period | 18,810 | 22,770 |
| Net effect of currency translation in cash and cash equivalents | -119 | 0 |
| Cash and cash equivalents at end of period | 11,529 | 17,445 |

## Information for shareholders

Performance of technotrans shares (Xetra)

#### Ad hoc announcement dated February 12, 2025

On February 12, 2025 the Board of Management of technotrans SE published preliminary figures for the 2024 financial year in an ad‑hoc announcement: Consolildated revenue amounted to 238.1 million and the EBIT margin to 5.2 %, both slightly below the forecast ranges due to the economic conditions. ROCE came in at 11.8 %, likewise below the projected range.

#### Composition of shareholders

In the first quarter of 2025 and up to the editorial deadline for this quarterly statement, we received and published the following voting rights notifications in accordance with Sections 33 and 34 WpHG. The current shareholder structure is as follows:


### Financial Calendar/notes

| Publications | Date |
|-----------------------------------------------|-------------------------|
| Interim Financial Report 1-6/2025 | August 13, 2025 |
| Quarterly Communication 1-9/2025 | November 18, 2025 |
| | |
| Events | |
| Annual General Meeting | May 16, 2025 |
| HIT - Hamburg Investor Days | August 28, 2025 |
| Berenberg & Goldman Sachs Conference - Munich | September 23, 2025 |
| German Equity Forum, Frankfurt | November 24<br>25, 2025 |
| | |

Current information on events can be found on our website at : <https://www.technotrans.com/investor-relations/financial-calendar>

#### NOTES

This Quarterly Communication contains statements on the future development of the technotrans Group. These reflect the present views of the management of technotrans SE and are based on the corresponding plans, estimates and expectations. We point out that the statements are subject to certain risks and uncertainties which could mean that the actual results differ considerably from those expected.

This Quarterly Communication Version in English language is a translation provided for information purposes only. The original German text shall prevail in the event of any discrepancies between the English translation and the German original. We do not accept any liability for the use of, or reliance on, the English translation or for any errors or misunderstandings that may arise from the translation.

Rounding differences may occur.

The Quarterly Communication of technotrans SE as of March 31, 2025 has been prepared in accordance with Section 53 of the stock exchange rules for the Frankfurt Stock Exchange (FSE).

### Contact


Frank Dernesch Head of Investor Relations & Treasury

Phone: +49 (0)2583-301-1868 Fax: +49 (0)2583-301-1054 E-mail: [frank.dernesch@technotrans.de](mailto:frank.dernesch@technotrans.de)

### General Inquiries

### technotrans SE

Robert-Linnemann-Straße 17 48336 Sassenberg

Phone: +49 (0)2583-301-1000 Fax: +49 (0)2583-301-1054 E-mail: [info@technotrans.de](mailto:info@technotrans.de)