Kontron AG Achieves Record EBITDA in Q2 2024

Kontron AG, a global IoT technology provider, reported a 48.6% EBITDA growth for Q2 2024, reaching EUR 46.5 million, up from EUR 31.3 million in Q2 2023. Revenue grew by 52.9%, hitting EUR 423.8 million compared to EUR 277.3 million in the same period last year.

The company's gross margin reached a record 42.5%, reflecting an increasing share of IoT technology in its products. The order backlog surged by EUR 279 million in the first half of 2024, hitting a high of EUR 1,965 million. Kontron also logged new orders worth EUR 548 million, resulting in a book-to-bill ratio of 1.29.

Despite one-off costs and EUR 2.2 million in PPA amortization from acquiring Katek, net income rose to EUR 21.6 million. Adjusted net income, excluding new PPA amortization, stood at EUR 23.8 million. Operating cash flow was EUR -6.1 million, but adjusted for repaid factoring accounts receivables, it was EUR 17.0 million.

CEO Hannes Niederhauser highlighted Kontron's comprehensive IoT portfolio, which positions the company to capitalize on trends in AI and security. The firm maintains its 2024 EBITDA forecast at EUR 190 million and adjusted net income at around EUR 100 million.