MUNICH -- Katek recorded its strongest-ever first half as consolidated sales rose to EUR315.9 million, up 16.6%.

Adjusted EBITDA was up 26% to EUR16.9 million on higher demand for renewables/solar (up 129.2% from the prior year) and tele-care/healthcare (up 131.2% compared to the prior year).

eMobility/charging grew 13.2% year-over-year despite poor sales automotive figures, whereas the rest of the automotive business fell 6.4%.

An increase in inventories for strategic buffer stocks slowed significantly in the second quarter. Increases in material costs, which exert temporary pressure on gross profit margin, are being offset by passing on additional costs and implementing price increases across the board at almost all customers. As a result, the gross profit margin in the quarter improved 1.7 percentage points sequentially. Operating EBITDA (adjusted) excluding special items of EUR16.9 million in the first half, was significantly higher than the prior-year figure of EUR13.4 million (+26.1%). EBITDA margin (adjusted) improved 30 basis points to 5.3%.

In April Katek announced its planned acquisition of SigmaPoint, one of Canada's leading providers of high-value electronics. This expands the EMS company's industry presence to include Homeland Security & Defense and strengthens the offering for its European customers in North America.

Rainer Koppitz, CEO, Katek said, "As the number three European electronics service provider, we are delivering on the promise to our European customers for a presence on the North American continent." With SigmaPoint, Katek closes the gap in North America and thus offers the local-for-local approach on another continent in addition to the already opened Asian plant in Malaysia. The closing of the transaction is expected shortly. The first-time consolidation would add an upside potential in sales of EUR20 million for the full year.

The second quarter results and high order backlogs and book-to-bill ratio of over 1.2, is leading management to raise its sales forecast for the full year 2022 from the previous EUR583.3 million to more than EUR615 million.

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