Teknia doubles its profitability in the first half of 2021

• Teknia registered €174.5m revenues and EBITDA of €20,1 million euros in H1 2021, increasing 50% and 188% when compared with 2020 respectively.
• The multinational Group has also announced that senior secured note of 20M€ has been fully repaid at the beginning of July.

The automotive components manufacturer Teknia presented today its financial results for the 2021 First Half, when the multinational Company almost doubled its profitability and obtained €174.5 million revenues and an EBITDA of €20.1 million euros, increasing 50% and 188% when compared with 2020 respectively.

More concretely, profitability has increased to 11.5% margin EBITDA vs 6% in H1 2020, a semester that was very impacted by COVID-19 pandemic. Profitability is even better than in H1 2019 when amounted 9.7%. These results have been possible due to volumes recovery and strict cost control. Group performance shows, despite reduction in demand in in H1 2021 due to semiconductor shortage, a consolidated cost structure to reach attractive profitability.

Teknia results for the first half show a strong recovery when compared with 2020 and are in the way of a recovery to pre-covid levels, even taking in account impact of chips disruption in automotive industry that is affecting Teknia’s clients.

EBIT stood at €11.5m, an increase of 15.7 per cent points when compared with 2020 and indebtedness was 1.93 Net Financial Debt/EBITDA ratio. Liquidity position was €50.2 to face any contingency and capex for the semester was €9.6m due to strict cash control. Teknia has been capable to manage the indebtedness and strength its liquidity position along these months.

Senior secured note of 20M€ has been fully repaid

Teknia has also announced that senior secured note of 20M€ has been fully repaid at the beginning of July. The company maintains debt capital market presence through diversified sources of funding to face any unexpected shortage. Estimated leverage ratio will be placed at 2.0x at 2021 year-end, much better than covenant limitations situated at 3.5x NFD/EBITDA.