The annual targets are no longer achievable due to the more difficult economic conditions and the associated industry-wide decline in e-commerce and in the construction sector. This decline is largely attributable to the rise in interest rates and the political uncertainties and delays surrounding the Building Energy Act.
Accordingly, the continuing weak overall economic development, especially in the second and third quarter of 2023, leads the Management Board of 3U HOLDING AG to concretize its forecast for the current financial year. For 2023, the target figures are thus expected to be slightly below the originally communicated ranges. Accordingly, consolidated revenues are expected to be around EUR 52.0 to 56.0 million (previously: EUR 55.0 to 60.0 million). In terms of EBITDA, the Management Board expects earnings before interest, taxes, depreciation and amortization of around EUR 4.5 to 6.0 million (previously: EUR 6.0 to 8.0 million). The expectations for net income are in a range of EUR 1.5 to 2.5 million (previously: EUR 2.5 to 3.5 million).
3U will publish the figures for the first nine months of 2023 as scheduled on November 8.