va-Q-tec AG — Earnings Release 2022

Nov 10, 2022

va-Q-tec 9M 2022 Earnings Release Presentation

2022-11-10

VQT with significant growth in 9M

Revenue significantly up +12 % in 9M 2022 to EUR 82,1 million compared to EUR 73,4 million in 9M 2021

Dynamic growth in the Services (+24 %) and solid growth in the Systems (+7 %) divisions

TempChain revenue share: 78% (9M 2021: 76%) +

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Operating cashflow improved to 4,4 EUR million (9M 2021: 0,7 EUR million)

Revenues by business line

Group revenues grew by 12%

• Accelerated momentum in Q3/Q4

• Business starts to report against strong comparables in Q3/Q4 '21

• Strong and continued momentum since Q3 & Q4 2021

Group revenues grew by 12%

Revenue Shares TempChain 76% Corona-related Business 18% Revenue Shares TempChain 78% Corona-related Business 16% 9M 2021 73,4 Mio. EUR 9M 2022 82,1 Mio. EUR +12% Services Systems Products 25,3 38,1 Services 15,9 Systems Products 17,0 23,8 31,3 9M 2021 9M 2022

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Consolidated income statement

Breakdown by cost position

	9M 22 In TEUR	9M 21 In TEUR	Difference in %
Revenue	82.064	73.352	+12%
Total income	93.701	89.407	+5%
Cost of Materials and Services	-35.924	-37.734	-5%
Gross profit	57.777	51.673	+12%
Personnel expenses	-27.828	-24.547	+13%
Other operating expense	-18.999	-13.580	+40%
Adj. EBITDA	13.424	13.546	+/-0%
Depreciation & amortization	-10.921	-9.885	+10%
Adj. EBIT	2.503	3.661	-31%
Financial result	-1.900	-1.688	+12%
Adj. EBT	603	1.973	-69%

Anticipated future business Higher logistics and energy costs, normalized travel costs

Incl. 2.474 kEUR adjustment for possible subsequent payments to tax authorities (international thermo container logistics)

Cash flow summary

Cash generation strongly improved

In Mio. EUR	9M 22	9M 21	Comments
Operating cash flow before changes in Working Capital
	9,9	11,2
Operating cash flow	4,4	0,7
Investing cash flow	-7,9	-15,7
Thereof payments for investments			positive FCF
in property, plant and equipment*	-6,4	-14,7
Financing cash flow	4,7	6,1
Net change in cash	1,6	-8,9
Free cash flow	-3,5	-15,0
Cash and cash equivalents	11,4	8,2	Available lines + cash =

*c. 80% growth CAPEX

Comments

• Operating CF with a good improvement
• Working capital reduction as planed
• Strong improvement in FCF, Q3 with positive FCF

c. 22,9 Mio. EUR

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Thank you for your attention!

va-Q-tec AG

Alfred-Nobel-Straße 33 97080 Würzburg Tel,: +49 931 35942-1616 Fax: +49 931 35942-0 IR@va-Q-tec,com

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Symbol: VQT Bloomberg: VQT:GY Reuters: VQTG:DE ISIN: DE0006636681 WKN: 663668