UET United Electronic Technology AG with revenues growth amid challenging market conditions in first half of fiscal year 2022

Consolidated sales are 20.215 million EUR - sales growth of +14%

Group EBIT at -1.857 million EUR

Investments to strengthen supply chain resilience amounting to 2.800 million EUR

Positive EBIT target for 2022

Today, UET United Electronic Technology AG (ISIN: DE000A0LBKW6), Eschborn, provides their consolidated financial figures for the first half of the fiscal year from January 1st to June 30th, 2022.

In the first half of 2022, the UET Group generated sales of 20.215 mn EUR. Compared with the same period of the previous year, this is an increase of 2.456 mn EUR or 14%.

Disturbances and interruptions in supply chains led to low availability and failures in the delivery of semiconductor components in the first half of the year. As a result, around 12 mn EUR in orders could not be delivered.

The order backlog as of June 30, 2022 totals 43 mn EUR and is the highest value since 2012.

Due to increased purchase prices, mainly in the area of electronic components and investments in strengthening the resilience of the supply chain in the amount of 2.8 mn EUR, the UET Group reports consolidated earnings EBITDA (earnings before interest, taxes, depreciation and amortization) in the first half of 2022 totaling -0.250 mn EUR (previous year: 2.570 mn EUR).

Earnings before interest and taxes (EBIT) were -1.857 mn EUR compared to 1.064 mn EUR in the previous year.

The consolidated half-year result of the UET Group totaled -2.677 mn EUR in 2022, after 0.107 mn EUR in the first six months of 2021.

Cash position of the UET Group totaled to 1.373 mn EUR as of June 30, 2022. The consolidated equity of the UET Group amounted to 0.959 mn EUR as of the half-year reporting date.

The results achieved in the first half of the year are in line with expectations.

The investments of EUR 2.8 million to improve the resilience of the supply chains were carried out in a targeted manner and the entire product portfolio has been re-designed. For each product and all critical components, one or more types of components variants were designed-in and qualified. Both, hardware and software modifications have been implemented and all products were re-certified. These investments were fully booked as costs.

Now, the UET Group currently has two independent hardware platforms, each with several products and variants.

As a result of the measures described the products and thus production options have been fully available for the first time since October 2022 and will enable significant increases in deliveries for the fourth quarter and therefore increasing sales and earnings are expected.

The investments in supply chain resilience were and will be continued in the second half of the year.

The goal for 2022 is a positive EBIT and a further increase in incoming orders and orders on hand.

More financial data and general information can be found in the full report for the first half of the fiscal year 2022 (German version only), which will be available for download on November 1st 2022 on the company website (http://www.uet-group.com) under Investor Relations/ Financial Reports.

Contact:

UET United Electronic Technology AG

Frankfurter Str. 80-82

D-65760 Eschborn

Sebastian Schubert

Investor Relations

Tel: + 49 (0) 6196 777755-0

Email: investor@uet-group.com

LINK:	https://www.aconnic.com/ir-news-2022-10-31/...
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