Press peripherals maker technotrans SE – which now calls itself a “thermal management specialist” – reported a record financial year at its annual meeting on Friday.

With the first phase of its Future Ready 2025 strategy completed, the company has confirmed growth targets and proposed a dividend of 0.64 Euros per share.

Despite “challenging framework conditions”, revenue and profitability had significantly increased and the order backlog reached an all-time high.

“We have once again achieved all our operating and strategic targets in the 2022 financial year.

“Even more, we are at least one year ahead of our growth targets,” spokesman of the board of management Michael Finger said.

“With our thermal management expertise, the resilience we have developed in the face of volatile underlying conditions and the irrepressible commitment of our employees, we have succeeded in achieving these remarkable successes in a difficult year.”

Group sales increased by 13 per cent to 238 million Euros – a new all-time high –while the EBIT margin reached six per cent (previous year: 5.2 per cent). Key factor was a “significant” improvement in profitability of the technology segment.

The meeting resolved to authorise acquisition of treasury shares for the period up to May 11, 2028, but proposed resolutions on the issue of convertible bonds and bonds with warrants and on the creation of new authorised and conditional capital did not achieve necessary majorities.

Shareholders heard the most important growth drivers were again the focus markets of plastics, energy management, healthcare & analytics and print.

Opportunities to acquire “profitable, medium-sized industrial companies in Germany and abroad” were being “continuously explored”, with a focus on companies that support a technological or market-oriented expansion of the group’s business model.

Finger said technotrans had started the new 2023 financial year with double-digit revenue and earnings growth. “This makes us optimistic about continuing the positive development,” he said. “Demand in the market is unbroken. Based on the high order backlog, we are confident to successfully implement the second phase of our strategy.”