Financial highlights first half 2023

Turnover increased by 5.3% to € 947.6 million (H1 2022: € 899.7 million). All segments contributed to the growth in turnover.

Added value increased to 49.1% (H1 2022: 47.0%).

EBITA before one-off income and expenses at € 119.8 million, up 3.6% (H1 2022: € 115.6 million), driven by EBITA growth at Smart Vision and Smart Connectivity systems; as expected, Smart Manufacturing systems recorded a decline in EBITA due to component shortages.

Order book up 2.9% to € 999.9 million (December 31, 2022: € 971.9 million), strong growth in order book at Smart Manufacturing systems.

ROS stable at 12.6% (H1 2022: 12.8%).



Strategic highlights first half 2023

Solid progress in the further rollout of € 200 million Strategic Investment Program, with planned capacity expansions on schedule.

Further progress in strategic positioning across all segments to benefit from favorable underlying megatrends.

Acquisition of machine vision software designer and provider Euresys, announced divestment of connectivity distribution activities in France.



Outlook

For the full year 2023, assuming full-year contribution from connectivity distribution activities in France, TKH expects an EBITA before one-off income and expenses of between € 237 million and € 247 million (2022: € 234.8 million).




Alexander van der Lof, CEO of technology company TKH: “We continued to perform well in H1 2023 and managed to improve our added value across all segments as we strengthened our positioning. The demand for our technologies continues to grow, leading to further growth in turnover and EBITA for the group. We closed the half year with a record order book, mainly in Smart Manufacturing. We are seeing an easing of the supply chain issues of critical components at Smart Manufacturing, which has led to an improvement of Smart Manufacturing results during Q2, and we expect this trend to continue for the remainder of 2023. We also made good progress in reaching our ESG targets and see ESG as one of our main priorities.

We continue to focus on the execution of our Accelerate 2025 strategy. Our € 200 million Strategic Investment Program is progressing according to plan, with no delays in the construction of our capacity expansions. We acquired a leading high-tech machine vision software designer and provider, Euresys, and announced the divestment of our connectivity distribution activities in France, allowing us to put further strategic focus on our differentiating and innovative power in smart technologies to drive added value at higher levels.

We expect to continue to grow organically in H2 2023, largely driven by Smart Manufacturing. The market conditions for our 2D and 3D machine vision companies became more challenging during Q2 due to industry headwinds. The underlying market dynamics, however, remain strongly driven by automation, and we will continue to invest in strengthening our leading market positions. We will also continue to invest in strengthening our other core technologies to secure the longer term growth opportunities from the megatrends of automation, digitalization, and electrification.”

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