TRESU Investment Holding A/S – Pre-release of full year 2023 result

TRESU INVESTMENT HOLDING A/S
ANNOUNCEMENT NO. 01.2024
15.03.2024

TRESU Investment Holding A/S – Pre-release of full year 2023 result.

TRESU Investment Holding A/S today announces full year result for FY2023.

For FY2023, TRESU achieved an organic revenue growth of 8% (previous guidance: 4-7%) and revenue of DKK 389m. The adjusted EBITDA was DKK -2m corresponding to an adj. EBITDA margin of -0.6% (previous guidance: 1-3%). The cash flow generation from ordinary operating activities was DKK -55m (previous guidance: to be negative).

The result for FY2023 was affected by continued long lead times on electrical components which has delayed customer deliveries and project execution leading to lower revenue recognition and additional costs to minimize the impact of the delays for our customers. In our Customer Care business, we experienced a temporary slowdown in market activity, mainly driven by de-stocking, but we expect to return to growth in 2024. Lastly, we have taken a provision related to one big project ultimo 2023. The project is near completion, and we do not expect the project to affect 2024 with any significant amount.

In the last months of 2023, we have seen more normal lead times in our supply chain, and we expect a normal flow in 2024. Based on proven higher productivity on our big machine and new product innovations we see high interest in our new machine with one machine already sold and several others in discussion or negotiation.

Stephan Plenz
CEO, TRESU

For further details, please contact:
CEO, Stephan Plenz, phone: +45 2194 5480
CFO, Torben Børsting, phone: +45 5130 2780