Preliminary revenue for Q1 2025 at €42.4 million and adjusted EBITDA at €2.4 million

Brockhaus Technologies AG: Preliminary revenue for Q1 2025 at €42.4 million and adjusted EBITDA at €2.4 million

Frankfurt am Main, May 7, 2025

Brockhaus Technologies AG (BKHT, ISIN: DE000A2GSU42, "Brockhaus Technologies") achieved revenue of €42.4 million in the first quarter of the financial year 2025 according to preliminary figures, representing organic growth of +7.0% compared to the same period of the previous year (Q1 2024: €39.6 million). The adjusted EBITDA for the reporting period amounted to €2.4 million, corresponding to an adjusted EBITDA margin of 5.6% (Q1 2024: €11.4 million; 28.7% margin).

In the HR Benefit & Mobility Platform segment (Bikeleasing, Probonio and Bike2Future), revenue in Q1 2025 increased by +10.9% to €35.9 million (Q1 2024: €32.4 million). The key factor of this growth was the significant increase in revenue from the resale of bikes at the end of the leasing period. However, the number of newly brokered bikes declined by 20% in Q1 2025. With regard to brokering new company bike leasing contracts, the company had expected a slow start to the year, which is expected to be offset over the course of the year. The segment's adjusted EBITDA amounted to €3.4 million, with an adjusted EBITDA margin of 9.4% (Q1 2024: €12.0 million; 37.2% margin). A major reason for the lower EBITDA margin was the increased share of resale revenue in total revenue, as these typically have a significantly lower gross profit margin than the other revenue components of the segment. Additionally, the weaker bicycle season in winter is generally characterized by market discounts, which this season had an increased impact on the gross profit margin in the resale business. A forfaiting delayed beyond the quarter-end date, as well as increased personnel and other operating expenses related to the implementation of the segment’s long-term growth strategy (transforming the business to a multi-country, multi-product model), had a negative impact on the EBITDA margin. The latter are mainly attributable to the acquisition of Probonio and the establishment of Bike2Future for the marketing of used bicycles. While no expenses were incurred for these companies in Q1 2024, their personnel and other operating expenses amounted to approximately €2.3 million in Q1 2025.

In the Security Technologies segment (IHSE), revenue in Q1 2025 amounted to €6.5 million, down by -10.6% compared to the same period last year (Q1 2024: €7.3 million). The adjusted EBITDA was €314 thousand, with an adjusted EBITDA margin of 4.8% (Q1 2024: €518 thousand; 7.1% margin). This was mainly due to the lower revenue level in Q1 2025 combined with fixed costs in the areas of personnel and other operating expenses.

With regard to the postponed publication of the company’s annual and consolidated financial statements, the company is working closely with the auditor KPMG to promptly complete the outstanding audit procedures and will announce a new date for the publication of the annual financial statements, consolidated financial statements, and the Annual General Meeting in due course.

The financial figures stated in this release are preliminary and unaudited. The Q1 2025 quarterly statement will be published on Thursday, May 15, 2025.

Contact:

Brockhaus Technologies – Florian Peter

Phone: +49 69 20 43 40 90

Fax: +49 69 20 43 40 971

E-Mail: ir@brockhaus-technologies.com