UET United Electronic Technology AG (ISIN: DE000A0LBKW6), Eschborn, is today publishing the report for the 2022 financial year, based on the preliminary figures for 2022 that were already announced on April 5, 2023.
As previously published, sales grew by 18% to EUR 49.036 million in the fiscal year 2022 (previous year: EUR 41.723 million). The order intake led to a record order backlog totaling EUR 52.5 million as of Dec. 31, 2022. Already in the first quarter of 2023, the group of companies has recorded a growth of 40%, as previously communicated.
In the fiscal year 2022, earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR 4.187 million (previous year: EUR 5.622 million). Earnings before interest and taxes (EBIT) amount to EUR 0.935 million in 2022, compared to EUR 2.582 million in the previous year. Both EBITDA and EBIT include special expenses of around EUR 4 million for a project to increase the resilience of the company’s own supply chains. These expenses for product developments and adjustments were fully expensed.
Financing round 2023
UET is currently conducting a financing round. The aim of this financing round is to refinance a debt capital line in the amount of EUR 12.5 million and to create additional liquidity for investments and working capital.
Due to new requirements in working capital as part of the project to increase supply chain resilience and planned investments in sustainability projects, the structure of the capital round and the process were redesigned last year.
The existing debt capital line of EUR 12.5 million was extended for a total of 12 months in 2022. As a result, the closing of the financing round planned for September 2022 was also rescheduled and is now planned for 2023.
In the interest of the shareholders, it is planned to ensure the financing of the business with a debt capital line. A financing offer has been submitted for this purpose, which is currently being implemented contractually.
Once the contracts have been concluded, the audited annual report for the 2022 financial year will be published and an invitation will be issued to the Annual General Meeting.
Growth 2023
For 2023, UET Group expects double-digit revenue growth of around 20% and a positive EBIT with a target margin of around 8%. “ We started the first quarter with sales growth of 40% and are confident to achieve our goals despite challenging market conditions. Network expansion in connection with security and energy efficiency drive the demand.”, says CEO Werner Neubauer.
The report for the 2022 financial year will be available on the company’s website (www.uet-group.com) as of June 30, 2023.
About UET United Electronic Technology AG
UET United Electronic Technology AG is an international technology supplier and network equipment provider headquartered in Eschborn near Frankfurt. The UET Group and its companies enable the construction and operation of high-performance gigabit networks with the key elements of energy efficiency, sustainability and network security. Systems and services are used by customers such as Deutsche Telekom, Orange, Telecom Italia, A1 Telekom Austria and América Móvil. The UET Group is the only international system supplier for critical communications infrastructure with European research, development, production and supply chain and headquarters in Germany. The UET Group has been listed on the German Stock Exchange since 2006, with 250 employees in eight countries generating revenues of approximately 49 million EUR in 2022, with a growth of 18%.
Contact:
UET United Electronic Technology AG
D-65760 Eschborn, Frankfurter Straße 80-82
Sebastian Schubert, Investor Relations
Tel: + 49 (0) 6196 7777550
E-Mail: investor@uet-group.com