Burkhalter Group closes 2023 financial year with very positive annual results

Burkhalter Group can once again look back on a successfully completed financial year. The confident outlook of management with regard to the half-year figures in 2023 has been confirmed and earnings per share were up year on year for the 2023 financial year. In light of the very good annual results, the Board of Directors will ask the Shareholders’ Meeting taking place on 14 May 2024 to approve a dividend of CHF 4.45 per share (previous year CHF 4.25).

The results for the 2023 financial year are as follows: Earnings per share amounted to CHF 4.95 (previous year CHF 4.73, +4.7%), the operating result (EBIT) was CHF 64.8 million (previous year CHF 48.1 million) and the Group profit came to CHF 51.9 million (previous year CHF 38.5 million). Sales were at CHF 1,127.3 million (previous year CHF 800,8 million) and exceeded the billion mark for the first time in the history of the Burkhalter Group. The nominal increase in sales and earnings compared with the previous year was largely attributable to the merger with poenina holding ag as of 29 June 2022. In financial year 2023, a complete financial year of the former poenina holding ag was consolidated for the first time. The figures can therefore only be compared with the previous year’s figures to a limited extent. In addition, Burkhalter made six acquisitions in 2023.

The increase in earnings per share can be attributed, on the one hand, to the growing demand in energy-efficient solutions and the improved process workflows. Secondly, the sharp increases in purchase prices for materials and generally higher costs were offset by efficiency enhancements and price adjustments. Availability of materials normalised for the most part. The continuing high level of construction activity and the existing need for refurbishment with regard to energy efficiency encouraged the demand for appropriate services.

Continued strong growth
The Burkhalter Group grew in 2023 through the addition of six more building technology companies. It purchased LKE Haustechnik AG in Landquart (GR) on 10 January, Strässle Installationen AG in Kesswil (TG) on 12 January and Elektro Saas AG in Saas-Fee (VS) on 26 January. Bötschi Holding AG in Berg (TG) and its subsidiaries Bötschi AG Feuer Luft Wasser in Berg (TG), Angele AG Feuer Luft Wasser in Bronschhofen (SG) and Perl-Pool AG in Berg (TG) joined the Group on 28 March. Riggenbach AG, Lüftungs- und Klimatechnik in Olten (SO) and its branches in Brugg (AG) and Solothurn (SO) were acquired on 29 June, followed by C2B Electrotechnique Sàrl in Martigny (VS) on 6 November. Gaining additional market share through the targeted acquisition of other building technology companies remains part of the Burkhalter Group’s strategy.

Responsibility for the environment and society
Through energy-efficient building renovations, the replacement of fossil fuel heating systems and the installation of photovoltaic systems, the Burkhalter Group’s corporate strategy contributes to reducing greenhouse gas emissions generated by customers and, in turn, in Swiss building stock and implementing the Swiss Federal Government’s Energy Strategy 2050. In the medium term, the company is planning to expand its energy consultation and services focusing on energy efficiency.

To set a good example in its own company, the Burkhalter Group developed its climate transition plan in 2023. Its main sources of emissions are the vehicle fleet and the company’s own buildings. It started with a quantitative analysis of emissions along the supply chain in 2023 and will continue with this work in 2024. The company is aiming to develop its climate transition plan in 2024, which is guided by the Swiss Federal Government’s 2050 net-zero target.

A report on non-financial matters was issued for the first time in financial year 2023 (Art. 964a et seq. CO). The Non-Financial Report 2023 can be viewed at www.burkhalter.ch/en/about-us/investor-relations/publications.

Proposal of a dividend payout planned
The gratifying annual result in 2023 prompts the Board of Directors to ask the Shareholders’ Meeting taking place on 14 May 2024 to approve a dividend of CHF 4.45 gross per share (previous year CHF 4.25). Half of the dividend is to be paid out from net profit and half from the reserves from capital contributions.

Merger of the service organisations
The service organisations of Burkhalter Management Ltd (Electrical Engineering) and Burkhalter Services Ltd (HVACP) will be merged to form one company when they are relocated to the shared site at Flurstrasse 55 in Zürich-Altstetten in summer 2024. This company will be renamed Burkhalter Services Ltd and provide support to all Group companies as well as Burkhalter Holding Ltd.

Outlook remains confident
Based on the existing need for refurbishment with regard to energy efficiency as well as the extraordinarily high demand for appropriate services, the management of the Burkhalter Group foresees further growth potential. It views Burkhalter as well positioned to continue to make a considerable contribution to achieving the goals of the Swiss Federal Government’s Energy Strategy 2050 and thus expects to be able to increase earnings per share moderately again in financial year 2024 compared with the previous year.

Thanks to our employees
The Board of Directors and management would like to thank the employees, who demonstrate such commitment to our customers as well as to the company’s sustainable success.

Financial Report 2023 and Non-Financial Report 2023
The 2023 Annual Report of the Burkhalter Group, consisting of the two publications Financial Report 2023 and the Portrait 2023, as well as the Non-Financial Report 2023 can be downloaded at: www.burkhalter.ch/en/about-us/investor-relations/publications

• Monday, 8 April 2024 from 9:00–10:30 a.m., SIX ConventionPoint, Pfingstweidstrasse 110, 8005 Zurich and
• online participation via stream: event.choruscall.com/mediaframe/webcast.html?webcastid=uRwaTvaq

Download media release as PDF here

Contact:
Burkhalter Holding Ltd
Elisabeth Dorigatti, Head of Corporate Communication, Sustainability and Investor Relations
+41 44 439 36 33
e.dorigatti@burkhalter.ch www.burkhalter.ch