on UET United Electronic Technology AG (isin : DE000A0LBKW6)
Aconnic AG Reports Revenue Growth in Q1 2024
aconnic AG, formerly UET AG, announced a revenue growth of 13% for the first quarter of 2024. The company reported net sales of 17.0 million EUR, up from 15.1 million EUR in the same period in 2023. Despite rising costs for personnel and raw materials, the company achieved an operating result before interest and taxes (EBIT) of 0.5 million EUR, compared to 0.9 million EUR in the previous year.
The order backlog increased to 35.3 million EUR as of March 31, 2024, from 32.6 million EUR at the end of December 2023. Despite a decrease in demand and growth in Europe after a strong 2023, aconnic is investing in new 10 Gigabit and 100 Gigabit systems, expected to be available by the end of 2024.
In the Carbon Capturing & Bio-Energy division, the first revenues were generated as planned. The company has made investments in the development of biomass and related systems. aconnic anticipates moderate revenue growth of 5 to 10% for the full financial year of 2024.
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