EQS-News: 3U HOLDING AG sees the new 2025 financial year in with revenue growth

3U HOLDING AG sees the new 2025 financial year in with revenue growth

• 3U continues its growth trajectory in Q1 2025 with revenue growth of 6.4 %
• Segment development attests to resilient business model
• Operating results in line with expectations
• Outlook: Management Board affirms guidance for the financial year 2025

Marburg, 13 May 2025 – 3U HOLDING AG (ISIN DE0005167902; identifier: UUU) has made a sound start to the new financial year and continues on its growth trajectory, in line with expectations. The first quarter of 2025 saw consolidated revenue rise by 6.4 % to EUR 14.6 million year on year (Q1 2024: EUR 13.7 million). Here, the HVAC segment’s organic development and the acquisition of EMPUR in February made definitive contributions to the Group’s success. The Group’s organic growth amounted to EUR 13.2 million in the period under review. Other operating income within the Group advanced to EUR 0.7 million in the first quarter of 2025, reflecting an increase of 11.9 % (Q1 2024: EUR 0.6 million), which was attributable to income from leasing office space in Würzburg. The cost of materials developed at slower rate than revenues, edging up by 2.4 %. Against this backdrop, gross profit rose to EUR 5.8 million in the first quarter of 2025, up from EUR 5.4 million in the previous year’s quarter. Personnel expenses which were 23.1 % higher in the reporting period, along with a tangible increase of 36.2 % in other operating expenses, were mainly responsible for the decline in EBITDA. The Group’s earnings before interest, taxes, depreciation and amortisation came in at EUR –0.2 million in the first quarter of 2025, down from EUR 0.7 in the year-earlier period. This result corresponds to an EBITDA margin of currently –1.2 % (Q1 2024: 5.5 %). With a negative financial result and tax proceeds the same as in the year-earlier period, the consolidated result attributable to the shareholders of the parent company stood at EUR –1.3 million (Q1 2024: EUR 0.1 million). Earnings per share therefore came in at EUR –0.04 compared with EUR 0.00 in the previous year.

“The start to the year confirms our assumption of achieving notable growth in 2025. Our confidence is anchored, on the one hand, in the strategic and operational measures already initiated and, on the other, in our strength in bucking the general market trend, especially in our largest business segment. The focus in the Renewable Energies segment has been placed clearly on expanding our capacities in our wind farms,” states Christoph Hellrung, 3U HOLDING AG’s Chief Financial Officer, commenting on the Group’s performance in the first three months.

Well-balanced business model promoting growth

As expected, the ITC segment (Information and Telecommunications Technology) did not achieve the year-earlier revenues in the first quarter of 2025. Earnings in the first three months of 2025 which came in at EUR 3.7 million fell 23.5 % short of the year-earlier period (Q1 2024: EUR 4.8 million). Given the development of revenues, segment EBITDA dropped to EUR 0.9 million down from EUR 1.2 million in the first quarter of 2024. At 24.4 %, EBITDA was maintained at a virtually stable level in the period under review (Q1 2024: 24.7 %).

The Renewable Energies segment delivered revenue of EUR 1.1 million in the first quarter of 2025, marking a decline of 1.8 % and falling only marginally short of the year-earlier level of EUR 1.2 million. Segment EBITDA of EUR 0.7 million matched the previous year’s level. The EBITDA margin which currently posts 59.6 % has even improved slightly, up from 57.8 % in a quarter-on-quarter comparison.

Revenue of the HVAC segment (Heating, Ventilation and Air Conditioning Technology) grew by 25.7 % to EUR 10.0 million in the first three months of 2025 (Q1 2024: EUR 8.0 million), which reflects the positive impact of the EMPUR takeover in February 2025. In organic terms, segment revenues advanced 7.7 %, from EUR 8.0 million to EUR 8.6 million. Against the backdrop of higher personnel costs and additional expenditure for integrating the EMPUR companies in the context of the takeover, EBITDA stood at EUR –0.83 million in the period under review (Q1 2024: EUR –0.2 million).

Sound balance sheet for underpinning future growth

Total assets amounted to EUR 126.9 million as of 31 March 2025, reflecting the level of 31 December 2024 (EUR 126.8 million). Along with takeovers and the completion of the new administration building in Marburg, the decline of EUR 4.0 million in cash and cash equivalents to EUR 38.6 million is to be seen in the context of continued operations within the Group.

At 68.2 %, the equity ratio continued to hold a sound level on 31 March 2025 (31 December 2024: 69.2 %). Financial liabilities remained virtually unchanged at EUR 26.0 million in the first three months of 2025 (31 December 2024: EUR 26.2 million), resulting in a net cash position of EUR 12.6 million on the reporting date of 31 March 2025 (31 December 2024: EUR 16.4 million). The debt-to-equity ratio rose to 46.7 % (31 December 2024: 44.5 %).

Outlook: Management Board affirms guidance for 2025

Given that business developed in line with expectations in the first quarter, the Management Board affirms its current guidance. Without factoring in future acquisitions, the Board expects overall earnings in 2025 in a range of between EUR 62 million and EUR 66 million, which would correspond to growth of 11 % to approximately 18 %. In terms of earnings before interest, taxes, depreciation and amortisation, management anticipates breakeven and an EBITDA margin of around 0 % in 2025.

In view of the end of the call-by-call and preselection services in 2024 and growing competition in the voice business, the ITC segment is likely to be faced with an anticipated clear focus on profitable product lines. Against this backdrop, and excluding potential acquisitions in the current year 2025, the Management Board continues to anticipate a decline in revenues in the mid-single-digit euro range. The ITC segment’s EBITDA margin is likely to remain at the good year-earlier level in 2025, with EBITDA expected at around EUR 2.5 million to EUR 3.5 million.

In the Renewable Energies segment, the Group is focusing primarily on expanding power production capacities. On the one hand, approval planning for a possible repowering of further wind energy facilities is to have been completed and submitted by mid-year in order derive the greatest benefit from the simplified application and approval procedures. On the other, the Group is forging ahead with work on realising its repowering project in the Langendorf Wind Farm (Part I). Over the course of the year, the new wind energy facilities are to have been built and installed and are scheduled to go online by the start of 2026 at the latest. Owing to the ongoing construction activities, the Management Board assumes that revenues in the current year will remain unchanged compared with 2024. In operational terms, EBITDA is anticipated in a range of between EUR 2 million and EUR 3 million. The EBITDA margin in 2025 is likely to fall significantly short of the level posted in 2024.

At the start of 2025, business in the HVAC segment was still constrained by the uncertain economic and political framework conditions and the faltering construction industry. The general conditions in online retail and in the market for technical building equipment will likely improve as from the end of the year at the earliest. Against the backdrop of the operational and strategic measures already implemented, and as the result of the EMPUR takeover in the first quarter of 2025, the Management Board anticipates notable growth in revenues on the back of higher sales in the current year. Supplementing the advisory services and continuing to make headway with the successful marketing activities are aimed at boosting demand. The HVAC segment’s EBITDA is set to increase in 2025 in a year-on-year comparison but will nevertheless remain in marginally negative territory due to the expenses for raising the segment’s competitiveness. Excluding acquisition-related effects, the segment’s EBITDA margin should settle around –4 % to –5 %.

“The extent to which organic growth in the HVAC segment can also be promoted in the future by suitable acquisitions is currently being investigated by Selfio’s management in consultation with the Supervisory Board. The background to this is that Selfio’s Management Board terminated the negotiations which had already reached an advanced stage regarding a larger takeover in April, with the result that the growth plans envisaged for Selfio SE need to be re-evaluated. Among other reasons, the growing discrepancy in the price expectations of the seller and the target company’s operational business performance, especially against the backdrop of the general developments and prevailing uncertainty in the market, prompted us to take this decision,” says Uwe Knoke, Management Board member responsible for Strategy and Business Development at 3U HOLDING AG.

Event announcement:

A webcast on 3U HOLDING AG’s results for the first quarter of 2025 and the outlook for 2025 will be held today 10:00 CET with CFO Christoph Hellrung and Uwe Knoke, Board member responsible for Strategy and Business Development.

Please register here to participate in the webcast.
 

Group results at a glance

*As of 31/03/2024

About 3U:
3U HOLDING AG (www.3U.net), based in Marburg, Germany, was founded in 1997. As the operating management and investment holding company, it heads up the 3U Group. With a view to increasing the value for the shareholders, employees, customers, suppliers and all stakeholders, the company acquires, operates and sells companies in the three segments of ITC (Information and Telecommunications Technology), Renewable Energies and HVAC (Heating, Ventilation and Air Conditioning Technology. The 3U Group operates successfully and profitably with its business models in mega trends in all three segments and is striving to attain market leadership in particular with its e-commerce business model. 3U HOLDING AG shares are traded on XETRA, Tradegate and on German regional stock exchanges (ISIN: DE0005167902; identifier: UUU).

Contact:
Thomas Fritsche
Leitung Unternehmenskommunikation & Investor Relations
3U HOLDING AG
Zu den Sandbeeten 1b
D-35043 Marburg
Tel.: + 49 (0)6421 999-1200
Fax: + 49 (0)6421 999-1222
Email: IR@3U.net
www.3u.net