Kontron AG, a leading global provider of IoT technology, today announced its results for the second quarter of 2024, with the Katek group consolidated for all 3 months.
Sales increased by 52.9% to EUR 423.8 million in Q2 2024 (Q2 2023: EUR 277.3 million), of which EUR 134.5 million came from Katek. EBITDA reached a record high at EUR 46.5 million which is a plus of 48.6% compared to Q2 2023 (EUR 33.1 million). Consolidated net income grew to EUR 21.6 million (Q2 2023: EUR 19.0 million) despite one-off costs and additional EUR 2.2 million PPA amortisation from the Katek acquisition. Without the new PPA amortisation net income stood at EUR 23.8 million. The operating cash flow came in at EUR -6.1 million in Q2 2024 and at EUR 17.0 million adjusted for repaid factoring accounts receivables. The good results are based on the record gross margin of 42.5% (FY 2023: 38,0%) and reflects the steady increase in the share of technology in IoT products of Kontron.
The order backlog rose in the first half of 2024 by EUR 279 million to a record of EUR 1,965 million. In Q2 2024, Kontron received orders in the amount of EUR 548 million, which translates to a book-to-bill of 1.29.
Kontron is therefore on track for another successful financial year. Prior to the strategic realignment in 2021, the consolidated net income of the IoT segment was EUR 31 million (EUR 49 million including the sold IT service activities) and increased to EUR 76 million in the 2023 financial year as a result of the company’s realignment as an IoT provider.
For the current financial year 2024, we continue to forecast an EBITDA of EUR 190 million and an adjusted consolidated net income of around EUR 100 million. “The still nascent IoT market continues to make great strides”, said Hannes Niederhauser, CEO of Kontron AG. “Today, Kontron has the most comprehensive IoT technology portfolio with which we can serve well the future topics artificial intelligence and security – NIS2 standard. Based on this, our growth will continue in the coming years.”
The interim report on the first half year is available at www.kontron.com.
