EQS-News: UET United Electronic Technology AG
/ Key word(s): Annual Report/Annual Results
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.
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
30.06.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | UET United Electronic Technology AG |
Frankfurter Straße 80-82 | |
65760 Eschborn | |
Germany | |
Phone: | +49 (0)6196-7777550 |
Fax: | +49 (0)6196-7777559 |
E-mail: | investor@uet-group.com |
Internet: | www.uet-group.com |
ISIN: | DE000A0LBKW6 |
WKN: | A0LBKW |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Stuttgart |
EQS News ID: | 1670419 |
End of News | EQS News Service |
|
1670419 30.06.2023 CET/CEST
The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.
The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.
If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.
For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.
1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.