NCTE AG: 2023 financial year with profitable growth – momentum to continue in 2024

Preliminary annual financial statements:

• Sales revenue up 13.4% in 2023, over EUR 6 million for the first time
• Net profit for 2023 positive at TEUR 80 (previous year: TEUR -285 thousand)
• Management Board sees significant opportunities to accelerate future development

Munich/Oberhaching, 29.02.2024: NCTE AG posted record sales in the 2023 financial year. The preliminary annual financial statements show revenue of EUR 6.0 million (previous year: EUR 5.3 million). This increase was mainly driven by the e-bike and off-highway (agricultural technology) segments.

NCTE AG achieved its best result in the past five years with a net profit of TEUR 80 (previous year: net loss of TEUR -285). Equity amounted to EUR 3.3 million as at December 31, 2023 (previous year: EUR 2.9 million).

“We are very satisfied with the course of business in 2023, as we achieved both our sales and earnings targets in a challenging market environment. This strong performance reflects our continued growth momentum and the effectiveness of our strategy. Our sincere thanks go to our employees, whose tireless efforts and commitment have contributed significantly to our success,” says Jürgen Uebbing, CEO of NCTE AG.

Year-on-year comparison 2023 to 2022

Based on the preliminary results for 2023, the key figures are as follows:

		2023	2022	Change in %
Sales revenue	TEUR	6.041	5.325	+13.4%
EBITDA	TEUR	421	5	+8,320.0%
Net profit	TEUR	80	-285	+128.1%

Listing promotes further successful development

NCTE AG has been listed on the m:access SME segment of the Munich Stock Exchange since October 10, 2023. In this way, the company is pursuing the goal of securing long-term financing for its further growth strategy through capital increases.

Positive outlook for 2024

“We see significant opportunities to further accelerate our future development. We want to further increase volumes and margins in our most important markets of e-bikes, agricultural technology and industry. We are also planning to develop new markets. Cooperation agreements with established companies are a key strategy here, which will overcome barriers to market entry,” says Jürgen Uebbing, CEO of NCTE AG.

For the coming financial year, the Management Board expects sales of between EUR 6.0 million and EUR 8.0 million and EBITDA between a slightly positive result at the lower end of the range and EUR 1.0 million at the upper end of the range.