Friday, May 24, 2024

Exyte with robust 6M/2023 results: sales growth of almost 11% to 3.7 billion euros year-on-year

  • Sales increased by 10.6% year-on-year, totaling €3.7 billion
  • Adjusted EBIT grew by 2.5% reaching €207 million, adjusted EBITDA rose by 4.5% to €232 million
  • Order intake amounted to €3.5 billion
  • Sales of around €8.0 billion expected for 2023
  • Exyte signed share purchase agreement to acquire pure media specialist Intega

STUTTGART, Germany, Sept. 5, 2023 /PRNewswire/ — Exyte GmbH (Exyte), a global leader in the design, engineering, and delivery of high-tech facilities, accomplished sound financial results in the first half of fiscal year 2023.

In the first six months of 2023 Exyte recorded a growth in sales of almost 11% to €3.7 billion (6M/2022: €3.4 billion). The order intake totaled €3.5 billion (6M/2022: €4.7 billion). Moreover, an increase in financial earnings was achieved with an adjusted EBIT of €207 million (6M/2022: €202 million) and an adjusted EBITDA of €232 million (6M/2022: €222 million). The adjusted EBIT margin and the adjusted EBITDA margin are slightly below last year’s figures reaching 5.6% and 6.2% respectively. The substantial order backlog of around €6.4 billion ensures Exyte’s future profitable growth.

“In the first half of 2023 we were able to pursue our growth path with solid sales growth and increased financial earnings. Moreover, we were awarded with several key projects all over the world in all our business segments. This shows that Exyte’s strong emphasis on megatrend-driven industries and its customer-centric strategy places the company in an advantageous position to maintain its growth momentum even amidst global economic uncertainties,” says Dr. Wolfgang Büchele, CEO of Exyte.

Financial year 2023: Positive outlook confirmed

“We see that our markets are currently shifting regionally. While semiconductor factories have been built almost exclusively in Asia in recent years, many large-scale projects in the field of semiconductors and battery cells are currently being prepared or are already in implementation especially in the USA and Europe, also driven by government subsidies. This development is reflected in Exyte’s current order and business development,” Büchele continues.

Exyte’s outlook for the remainder of the financial year 2023 is positive, as the company will continuously pursue its ‘Pathway to Ten’ with expected sales of around €8.0 billion by the end of this year and envisaged sales of €10.0 billion by 2027. Order intake is expected around the same high level as in the previous year.

Development of business segments: strong demand in battery cells, high potential in US data center market and additional acquisition for vertical integration

In the first six months of 2023, all business segments contributed to Exyte’s sales growth. The differences in incoming orders are due to specific market developments in the respective industries and are taken into account accordingly in Exyte’s business planning.

In 6M/2023 sales generated in the Advanced Technology Facilities segment grew by around 8% to €3.1 billion year-on-year (6M/2022: €2.9 billion). The business segment is currently executing large-scale semiconductor projects in all geographies. After a particularly strong prior-year period, Exyte achieved an order intake of €2.9 billion (6M/2022: €4.2 billion). Amongst others Exyte has been awarded major semiconductor projects in Germany and the US.

Exyte also continues its success in the business with gigafabs for battery cells. In Europe, Exyte meanwhile is involved in the construction of several new gigafabs. The customers are German vehicle manufacturers, an Asian battery manufacturer and a consortium of vehicle manufacturers with an energy company. In addition, Exyte is in talks with other vehicle manufacturers and technology companies as well as with start-ups working on the next generation of battery cells.

Sales of the Biopharma & Life Sciences business segment slightly increased to €293 million (6M/2022: €291 million). Major projects are currently being implemented in Germany, Malaysia, and Singapore. The segment saw a significant rise in incoming orders of more than 30% reaching €368 million (6M/2022: €283 million). The remarkable growth in order intake is based on large projects in Singapore and Denmark awarded by two leading global healthcare companies.

The Data Centers segment accomplished a record in sales with €251 million, more than doubling last year’s sale (6M/2023: €114 million). This sales development is driven by multiple projects for blue-chip software and technology companies in Denmark, Israel, Malaysia, and Taiwan, China. The order intake amounted to €124 million (6M/2022: €233 million).

To accelerate the growth of the company’s Data Centers business segment and to meet 2027 revenue targets, Exyte has decided to also enter the US data center market. There, the company wants to take advantage of the local data center industry’s growth. “The data center industry in the US is experiencing rapid growth, with increasing demand for reliable and scalable infrastructure to support digital transformation. We are convinced that Exyte, with its experience and technological know-how, can offer its clients innovative solutions for sustainable and high-performance data centers,” Büchele explains.

The Business Area Technology & Services consisting of several entities providing cleanroom technology, critical equipment for subsystems as well as installation services and offsite manufacturing (OSM) recorded an increase in sales of around 22% to €438 million (6M/2022: €360 million). Moreover, incoming orders rose by close to 9% to €599 million compared to previous year (6M/2022: €552 million). The positive development of CPS Group in the US contributes substantially to this success.

Exyte continues to strengthen its business in the area of mission-critical equipment and installation services. To this end, Exyte recently signed agreements to acquire Intega GmbH, a specialist in high-purity media supply systems. “With the acquisition of Intega, Exyte advances its strategy of vertical integration. The acquisition is the next important step in growing the competence in the area of critical sub-systems for advanced technology facilities, especially for the semiconductor industry. In addition, Intega will act as a nucleus for Exyte’s European service activities,” says Büchele. The transaction is subject to the required approvals by anti-trust authorities.

Key financial figures at a glance

6M/2023

6M/2022

Change

 2023 vs.
2022*

Order Intake

€3.5 bn

€4.7 bn

-26.6 %

Sales

€3.7 bn

€3.4 bn

+10.6 %

Adjusted EBITDA

€232 m

€222 m

+4.5 %

Adjusted EBITDA Margin

6.2 %

6.6 %

-0.4 PP

Adjusted EBIT

€207 m

€202 m

+2.5 %

Adjusted EBIT Margin

5.6 %

6.0 %

-0.4 PP

* The percentage is calculated based on the values in million.

For more details about our 6M-results 2023 please visit our website.

About Exyte

Exyte is a global leader in the design, engineering, and delivery of ultra-clean and sustainable facilities for high-tech industries. With cutting-edge expertise developed over more than a century, the company serves clients in the sophisticated markets of semiconductors, battery cells, pharmaceuticals, biotechnology, and data centers. Exyte offers a full range of services from consulting to managing the implementation of turnkey solutions with the highest standards in safety and quality to its customers worldwide. Exyte creates a better future by enabling key industries to enhance the quality of modern life. In 2022, the company generated sales of €7.4 billion with around 9,000 employees worldwide.

Contact

René Ziegler
Vice President Corporate Communications
& Investor Relations
+49 711 88044606
+49 172 5838786

rene.ziegler@exyte.net
www.exyte.net

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