- Revenue in the first quarter increased to 15 mn EUR
- Order backlog of 57.4 mn EUR at highest level since 2010
- EBIT positive at 0.9 mn EUR and 1.4 mn EUR higher than in the same period of the previous year
- Double-digit growth expected in fiscal year 2023
UET United Electronic Technology AG (ISIN: DE000A0LBKW6), Eschborn, Germany, increases revenues and earnings in the first quarter in fiscal year 2023.
With strong demand for systems and services for the expansion of critical infrastructure networks, revenue grew by 40% in the first three months of fiscal year 2023. Consolidated group revenue in the first quarter of 2023 was 15.123 mn EUR, up from 10.737 mn EUR in the first quarter of 2022.
The completed project to improve the resilience of the supply chain contributes to the increase in earnings. Earnings before interest and taxes (EBIT) totaled 0.911 mn EUR in the first quarter. In the first three months, EBIT increased by a total of 1.398 mn EUR compared to the same period of the previous year (previous year: -0.487 mn EUR).
Incoming orders rose again at the beginning of the year. Order backlog amounts to 57.4 mn EUR as of March 31, compared to 52.5 mn EUR at the end of December 2022, the highest figure for the UET Group since 2010.
“We started well into the current financial year, as we are benefiting as a network equipment supplier from the expansion projects of our customers in Europe and Latin America. We expect growing revenues and improved earnings for the full year,” says CEO Werner Neubauer.
For 2023, the UET Group expects double-digit revenue growth and a positive, increased result.
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 headquarter 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 growth of 17%.
UET United Electronic Technology AG
D-65760 Eschborn, Frankfurter Straße 80-82
Sebastian Schubert, Investor Relations
Tel: + 49 (0) 6196 7777550