- Revenues in fiscal year 2022 up 17 % to 49 mn EUR
- Order intake and order backlog at highest level since 2010 at 52.5 mn EUR
- Positive EBIT for 2022 following improved second-half results
- Double-digit growth planned for 2023
United Electronic Technology (UET) AG (ISIN: DE000A0LBKW6), Eschborn, Germany, announces selected and preliminary figures for the fiscal year 2022.
In the financial year 2022, revenues grew by 17 % outperforming the set sales target. Consolidated group sales increased to about EUR 49 million (previous year: EUR 41.723 million).
To increase the resilience of the own supply chain, the UET Group invested EUR 4 million in a supply chain resilience project in 2022. These product development and customization expenses were fully expensed.
The results of this project led to a doubling of the production volume in the 4th quarter compared to the three previous quarters.
The set goal of a positive operating EBIT for the full year 2022 was achieved. In the first half of 2022 earnings before interest and taxes (EBIT) still amounted to EUR -1.857 million. Growth and increased profitability in the second half of the year led to a positive overall result.
Order intake increased again in the second half of 2022. At the end of the year, the order backlog is EUR 52.5 million compared with EUR 43 million at the end of June 2022. This is the highest order backlog since 2010.
For 2023, the UET Group plans double-digit growth and a positive, increased result.
Challenges in sourcing components and the risk of supply chain disruptions will exist and remain in 2023.
The publication of more detailed figures is scheduled for March 2023. The 2022 annual report of the UET Group will be published by the end of June 2023.
About UET United Electronic Technology AG
The UET United Electronic Technology AG is an international technology supplier and network equipment provider based 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 around 49 mn EUR in 2022, with growth of 17 percent.
UET United Electronic Technology AG
D-65760 Eschborn, Frankfurter Strasse 80-82
Sebastian Schubert Investor Relations
Tel: + 49 (0) 6196 7777550