Teknia records 29% growth of sales and increases profitability in H1 2023
Teknia, the multinational Group specialised in the manufacture of metal and plastic components for mobility, has recorded a turnover of €229.4 million in the first half of 2023, an increase of 29% compared to the first half of 2022, thanks to a strong reactivation of orders and production during the period. This reaffirms the company’s strategy to continue its growth path. Teknia more than doubled the market figures in the regions where the company is present (29% Teknia vs. 13% the market, according to S&P Global data).
EBITDA came to a record of €24.1 million for the first six months of the year, a 70% YoY growth in a scenario where costs have continued to rise but where raw material and energy price increases are starting to be contained. This is the highest EBITDA in a single semester in Company’s history. Net profit has increased to €9.25 million, nearly doubling 2022 H1 figures (+95%).
Increasing profitability and containing debt
Thus, EBITDA margin stood at 10.5% in H1 2023, 2.5 percentage points improvement over H1 2022. Meanwhile, EBIT stood at €15.1 million, increasing by 125% over €6.7 million in the same period of the previous year, even though it was slightly affected by the company’s CAPEX-intensive activity during the period.
Teknia’s leverage during the first six months of 2023 stood at 2.21x EBITDA (vs. 2.59x in H1 2022), confirming its solid financial profile marked by a low level of financial debt. At the same time, Teknia’s treasury level remains unchangeable at €17 million. This solid financial profile has been recognized by Ethifinance granting a financial rating increase from “BB” to “BB+”.
Investments during the first half of the year amounted to €9.4 million, representing a 4.1% of turnover. These have also been allocated to a substantial renewal of the machinery park to strengthen productivity and competitive advantage for the future.
Additionally, Teknia continued its international expansion during H1 2023 and acquired a Swedish company dedicated to the injection and machining of aluminium and magnesium products for safety and high-precision steering and chassis parts. This new factory reinforces the Group’s aluminium technology strategy, a key material in electrification due to the need for lighter vehicles.
Javier Quesada de Luis, Teknia Managing Director, stated: “We have achieved solid results in the first half of the year. This demonstrates the strength of Teknia’s business model and supports our confidence in long-term growth. We have managed to further increase our sales, while improving the profitability of the Group’s operations. These results also reinforce our commitment towards continuous growth through ambition, by improving our manufacturing capabilities and supporting our clients as a key partner”.
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