DGAP-News: Brockhaus Capital Management AG: BCM revenue in H1 2021 almost at prior-year level; strong increase in order intake of +24% compared to the prior-year period

- BCM revenue of €22.5 million in H1 2021 almost matches prior-year level

- EBITDA margin in Q2 2021 increased to around 15%

- Bikeleasing almost doubles revenue and EBITDA in H1 2021; closing of the acquisition planned for H2 2021

Frankfurt am Main, August 16, 2021. Brockhaus Capital Management AG (BKHT, ISIN: DE000A2GSU42, "BCM"), a long-term oriented technology group focused on acquiring high-margin and high-growth technology champions within the German Mittelstand, publishes figures for the first half of 2021.

In the first six months of fiscal year 2021, BCM Group generated revenue of €22.5 million, thus almost matching the prior-year level of €23.2 million (-3%). Adjusted EBITDA of €2.6 million corresponds to an adjusted EBITDA margin of 11.4% (H1 2020: €4.7 million or 20.4%). Order intake increased strongly in the first half of 2021, rising by +24% to €26.7 million (H1 2020: €21.6 million). In the second quarter of 2021 especially, BCM benefited from first catch-up effects and saw revenue grow by +10% to €11.6 million as compared to the prior-year quarter Q2 2020. The adjusted EBITDA margin rose significantly to 15.1% in this period, up from 7.4% in the first quarter of the year.

"The positive trend perceived since April has continued. We significantly increased revenue and adjusted EBITDA in the second quarter. However, the latter remains below the prior-year value due to the coronavirus pandemic and extensive due diligence activities in the first half of 2021. Against the backdrop of a significantly improved order situation as well as further catch-up effects, we continue to expect a strong second half of 2021 for the Group, in line with our forecast," says BCM's CEO Marco Brockhaus.

Continued demand for Palas test rigs for quality assurance of respiratory masks

In the first half of 2021, the Environmental Technologies segment, which consists of Palas, posted revenue growth of +63.8% compared with the prior-year period, to €9.8 million. This was especially attributable to the high volume of business with new products for testing the quality of respiratory masks, a recovery in demand for products for certified measurement of fine dust in ambient air as well as first positive effects resulting from the successful expansion to China last year. Palas offers one of the leading technologies for high-precision measurement and characterization of even the smallest air particles, such as fine dust and nanoparticles.

Travel restrictions and social distancing requirements delay IT infrastructure projects of IHSE customers

The Security Technologies segment, consisting of IHSE, continued to experience postponements of major customer projects in the first six months of 2021 due to the international travel restrictions and social distancing requirements related to the COVID-19 pandemic. Revenue declined by -26.1% to €12.7 million. IHSE is a global technology leader for KVM (keyboard, video, mouse) solutions enabling highly secure, latency-reduced and loss-free data transfer in mission-critical applications such as police and fire department control rooms, air traffic control, and hospitals. Demand for IHSE's KVM technologies is growing continuously, especially in China. On the basis of a well-stocked sales pipeline, the management of IHSE is expecting catch-up effects and a stronger second half in 2021. Order intake already increased during the reporting period and, with growth of +15.3%, now stands significantly above the prior-year level.

Bikeleasing almost doubles revenue and EBITDA in H1 2021

On June 16, 2021, BCM signed a purchase agreement for the acquisition of a majority interest in the Bikeleasing-Service GmbH & Co. KG (together with ist affiliated companies "Bikeleasing"). Bikeleasing is one of the leading digital platforms for the facilitation and management of B2B leasing contracts. Subject to a finalization of the IFRS conversion, Bikeleasing achieved revenue of €33.7 million in the first half of 2021, which corresponds to an increase of +95% as compared to the prior-year period H1 2020. During the same period adjusted EBITDA increased over-proportionally by +99% to €14.9 million, which corresponds to an adjusted EBITDA margin of 44%. Closing of the transaction is planned for the second half of 2021 and is subject to financing as well as a number of conditions precedent.

With successful closing of the Bikeleasing acquisition, BCM takes another important step towards building one of the leading technology groups in Germany.

Invitation to Investor Update Call H1 2021

The Investor Update Call for the first half of 2021 will take place on August 17, 2021 at 4:00 p.m. (CEST). Please use the following link to register if you are interested in joining the call:

https://webcast.meetyoo.de/reg/2OhRpsyNccmV
Your personal access data will then be sent to you by e-mail. The call will be in English.

Financial Calendar

November 15, 2021 Quarterly Report 9M 2021

About Brockhaus Capital Management

Brockhaus Capital Management AG (BKHT, ISIN: DE000A2GSU42, "BCM"), based in Frankfurt/Main, is a technology group acquiring high-margin and high-growth technology champions with B2B business models in the German Mittelstand. With a unique platform approach and a long-term horizon, BCM actively and strategically supports its subsidiaries in achieving long-term profitable growth beyond industry and country boundaries. At the same time, BCM offers a gateway into these non-listed German technology champions, which are otherwise inaccessible to capital market investors.

Find out more at www.bcm-ag.com.

Contact details

For investors:

Brockhaus Capital Management - Paul Göhring
Head of Investor Relations
Phone: +49 69 20 43 40 978
Fax: +49 69 20 43 40 971
E-Mail: [email protected]

For media:

USC - Anneke Hofmann
Phone: +49 221 280 655 11
E-Mail: [email protected]