EQS-Adhoc: Brockhaus Technologies AG: Forecast 2022 outperformed with preliminary results: revenue before PPA of €145m and adjusted EBITDA at €50m; adjusted EBITDA margin was 34.4%

Frankfurt am Main, February 27, 2023.

Brockhaus Technologies AG (BKHT, ISIN: DE000A2GSU42, „Brockhaus Technologies“): Our preliminary numbers from continued operations (i.e. excluding Palas sold in November) showed revenue before PPA of €145 million in fiscal year 2022, which corresponds to +38% year-over-year growth, which was purely organic (2021: €105 million). Adjusted EBITDA grew by +23% to €50 million, resulting in an adjusted EBITDA margin of 34.4% (2021: €41 million; 38.8% margin). Adjusted EBIT was €47 million, corresponding to an adjusted EBIT margin of 32.2% (2021: €39 million; 36.8% margin). Adjusted EBIT therefore increased by +21% compared to prior year 2021.

The latest forecast of Brockhaus Technologies, updated on November 24, 2022, solely due to the deconsolidation of Palas, showed revenue before PPA of between €130 and 135 million at an adjusted EBITDA margin of 35%. This corresponds to an adjusted EBITDA range of approximately €45 to 47 million. On this basis, the upper-end of our earlier forecast was exceeded by 7.6% as to revenue, and by 6.4% in terms of adjusted EBITDA. Decisive factors in the outperformance of the forecast were the higher than planned volume of company bikes facilitated through the digital Bikeleasing platform, as well as a very strong Q4 at IHSE.

Before any adjustments, preliminary revenue was €143 million (+44% vs. 2021; €99 million) with EBITDA of €47 million (+144% vs. 2021; €19 million) and EBIT of €29 million (+899% vs 2021; €3 million). EBIT is affected especially by PPA amortizations of €14 million (2021: €14 million).

Net income of the former subsidiary Palas, which was divested on November 24, 2022, will be presented in the separate line item “Result from discontinued operations” in Brockhaus Technologies’ consolidated income statement 2022. This result is expected to amount to €48 million and comprises both Palas’ income generated in the relevant period until the day of disposal together with the capital gain from the sale of that subsidiary. As its income and expenses are no longer presented in the consolidated revenue, other income and expenses, these items will be revised for comparative purposes and shown pro forma for 2021.

Our 2021 numbers present the income statement as if the subsidiaries acquired in 2021, Bikeleasing and kvm-tec, were already part of Brockhaus Technologies for the full-year as from January 1, 2021. With regard to the definition of alternative performance measures we refer to page 86 onwards in the Annual Report 2021 of Brockhaus Technologies.

The financial figures stated in this disclosure are preliminary and unaudited, which is why they might be subject to amendments. The Annual Report 2022 of Brockhaus Technologies will be published on Friday, March 31, 2023. The earnings call 2022 is also scheduled for that same day.

Contact:

Brockhaus Technologies – Paul Göhring

Phone: +49 69 20 43 40 90

Fax: +49 69 20 43 40 971

E-Mail: ir@brockhaus-technologies.com

1569803  27-Feb-2023 CET/CEST