TKH Group grows in financial year 2023, machine vision division remains stable
In the 2023 financial year, TKH increased its turnover by 3.2 percent to 1.85 billion euros. Despite challenges, the company is optimistic about 2024 and is forecasting growth in all divisions.
Excluding acquisitions, TKH's turnover grew by 3.2 percent to around 1.85 billion euros in the 2023 financial year. Including the sale of TKH France, the increase in turnover was 1.7 percent. EBITA grew by 3 percent to 237 million euros.
Turnover in the "Smart Vision Systems" division remained stable with growth of 0.2 percent to 500.5 million euros. Profit (EBITA) fell to 85.9 million euros (-10.1 percent). The order backlog also fell, from 159.2 to 124 million euros (-22.1 percent).
TKH sees the reasons for this in particular in the decline in demand in the second half of the year, especially in the area of factory automation. By contrast, the 2023 financial year got off to a good start with high demand from the solar and battery industries in the first two quarters.
Outlook for the 2024 financial year
For the first quarter of 2024, the TKH Group expects growth in the "Smart Manufacturing Systems" division compared to Q1 2023. "Smart Vision" and "Smart Connectivity Systems" will continue to face weak demand. The company therefore expects sales and profit to fall overall in the first quarter.
TKH expects growth for all three divisions for the year as a whole. For "Smart Vision Systems" at the latest in the second half of the year. The company therefore anticipates organic growth in turnover and EBITA overall.
