EQS-News

3U Group delivers sound uptrend in Q1 2024, as expected

EQS-News: 3U HOLDING AG 3U Group delivers sound uptrend in Q1 2024, as expected 14.05.2024 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. 3U Group delivers sound uptrend in Q1 2024, as expected

• 3U continues its growth trajectory in the reporting period with revenue growth of 3.4 %
• Segment development attests to resilient business model
• Operating results in line with expectations
• Management Board affirms guidance for the financial year 2024

Marburg, 14 May 2024 – 3U HOLDING AG (ISIN DE0005167902; identifier: UUU) has made a sound start to the new financial year 2024 and continues on its growth trajectory, in line with expectations. In the first quarter of 2024, consolidated revenue rose by 3.4 % to EUR 13.7 million a year-on-year comparison (Q1 2023: EUR 13.3 million). The development of the ITC segment (Information and Telecommunications Technology) and the SHAC segment (Sanitary, Heating and Air Conditioning Technology) both made key contributions to the positive development.

Having increased its revenue by more than 50 %, the ITC segment was the strongest driver of growth. Following weak construction activity in the previous year, the SHAC segment reported a slight upturn in revenue in the first months of 2024. Lower selling prices and outages in the wind farms resulted in the Renewable Energies segment being unable to match its good year-earlier performance in the first quarter of 2024. A technical defect in the Langendorf Wind Farm’s substation in particular prevented virtually any electricity being fed into the grid in January. This defect had nevertheless been eliminated by the start of February.

Above all, the increase in personnel expenses attributable to acquisitions, higher other operating expenses due in particular to maintenance costs and repairs on the wind energy facilities, and the rise in the cost of materials resulted in lower EBITDA, as anticipated. The Group’s earnings before interest, taxes, depreciation and amortisation came in at EUR 0.7 million in the reporting period, down from EUR 1.9 in the first three months of 2023. This result corresponds to an EBITDA margin of 5.5 % (Q1 2023: 14.0 %).