Diversified press peripherals maker technotrans has reported increased consolidated revenue and an adjusted EBIT margin matching last year.
The company posted consolidated revenue of 141.5 million Euros in the first nine months of the 2020 financial year, only 7.8 per cent down on the prior-year figure, credited to "solid business development" in the third quarter.
"Business development has exceeded our expectations," management board spokesman Michael Finger said. "We are satisfied with this business performance against the background of a very difficult global economic situation."
Effects of the COVID-19 pandemic on different segments varied. Technology segment's 102.4 million Euros was a "moderate" decline of 6.1 per cent, while Services was down 11.9 per cent.
Finger said the printing industry had stabilised after a recent sharp corona-related downturn but remained well below the previous year's level. Growth markets in battery and converter thermal management solutions for rail and special vehicles, e-buses and e-trucks "contributed to the pleasing business trend" as did "further successes in medical technology".
In addition to project orders for promising rail projects, technotrans has gained a major order for the cooling of e-bus charging stations and entered into a development partnership with a technology group in the e-truck sector. In China, it has acquired leading medical technology OEMs as new customers.
The full nine-month report 2020 and the presentation are available to download from Investor Relations/Financial Reports section of the company website.