{"id":23169,"date":"2021-01-13T12:09:26","date_gmt":"2021-01-13T11:09:26","guid":{"rendered":"https:\/\/staging.capitalmind.com\/industrial-tech-valuations-part-1\/"},"modified":"2021-03-02T13:35:31","modified_gmt":"2021-03-02T12:35:31","slug":"industrial-tech-valuations-part-1","status":"publish","type":"post","link":"https:\/\/dev2.capitalmind.com\/de\/industrial-tech-valuations-part-1\/","title":{"rendered":"Industrial Tech Valuations – Part 1"},"content":{"rendered":"

Industrial Tech Overview<\/h2>\n

Industrial Tech ratings significantly higher than before COVID-19<\/strong><\/p>\n

\"\"<\/p>\n

Industrial Tech valuations multiples currently strong at 16.1x EBITDA. 22% (!) higher than pre-COVID-19 January 2020 (13.5x)<\/p>\n

Market capitalization increased by 10.5% – the remaining effect of lower EBITDA expectations. Impact of changed net indebtedness not quantifiable due to database.<\/p>\n

Absolute EBITDAs forecasts 8% lower than 2019. Resulting from 16% lower revenue expectations and an increased (!)margins to 13% (12% in 2019).<\/p>\n

Overall, the sector outperforms (market cap) the #DAX30 by 16%, which has lost 5% since the beginning of the year.<\/p>\n

Changes in debt levels for 2020 can only be discussed after financial statements are published. It is very likely that most companies have drawn credit lines to secure liquidity – but it remains unclear which companies will need them to settle COVID-19 claims.<\/p>\n

Valuation drivers:<\/strong><\/p>\n

Automation and digitization trend confirmed: Software vendors, automation specialists and integrated players benefit, while traditional mechanical engineering and engineering services (without proprietary products) lose out.<\/p>\n

Market capitalization per sub-segment (total +11%):<\/p>\n

+20% Industrial Software<\/p>\n

+7% automation<\/p>\n

+5% Integrated groups<\/p>\n

-5% mechanical engineering<\/p>\n

-13% engineering services<\/p>\n

EBITDA in comparison to 2019 (total -10%):<\/p>\n

+8% Integrated Groups<\/p>\n

+7% Industrial Software<\/p>\n

-10% engineering services<\/p>\n

-21% Mechanical engineering<\/p>\n

-29% Automation<\/p>\n

Automation & Control (Robot\/Intelligent Motion)<\/h2>\n

Automation companies rated significantly higher than before COVID-19<\/strong><\/p>\n

\"\"<\/p>\n

Automation companies today are at 13.9x EBITDA, 24% higher than pre-COVID-19.<\/p>\n

The market capitalization has increased by 7% in the same period, the Investec Industrial Tech Index total +10.5% while the #DAX30 has fallen by -5%.<\/p>\n

Absolute EBITDA guidance 28% lower than 2019 results, while revenues are down 9% and margins remain at 15%.<\/p>\n

Industrial software companies highly valued, strong margin and EBITDA forecasts<\/h2>\n

\"\"<\/p>\n

Industrial software multiples are at 20x EBITDA, 17% higher than before COVID-19.<\/p>\n

The sub-sector market capitalization performance is 10% points stronger than the Investec Industrial Tech Index (+21% vs. +11%) and +26% than #DAX30 (21% vs. -5%).<\/p>\n

Absolute EBITDA forecasts are 43% higher (!) than 2019 results – driven by 3% higher revenues and 11% (!) higher margins (2020 forecast 31%).<\/p>\n

Investec & Industrial Technology<\/strong><\/p>\n

The Investec Industrial Tech Index tracks real-time developments in the sector, including valuations, growth, profitability, etc. In addition, resulting trends and transactions. Sub-sectors considered are Automation & Control (Robot\/Intelligent Motion), Mechanical Engineering, Industrial Software, Engineering Services & Integrated Corporations.<\/p>\n

Interested in finding out more? About valuations, buyers or current sales projects in the market?<\/p>\n

Let’s talk over a coffee – in the office or via video.<\/p>\n

Visit us on our page: https:\/\/dev2.capitalmind.com\/industrials\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Industrial Tech Overview Industrial Tech ratings significantly higher than before COVID-19 Industrial Tech valuations multiples currently strong at 16.1x EBITDA….<\/p>\n","protected":false},"author":17,"featured_media":21318,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[3801],"tags":[],"news-event-type":[],"dealtype":[],"blog-tag":[],"class_list":["post-23169","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sectornews-de","ps-industrials-de"],"acf":[],"_links":{"self":[{"href":"https:\/\/dev2.capitalmind.com\/de\/wp-json\/wp\/v2\/posts\/23169","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dev2.capitalmind.com\/de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dev2.capitalmind.com\/de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dev2.capitalmind.com\/de\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/dev2.capitalmind.com\/de\/wp-json\/wp\/v2\/comments?post=23169"}],"version-history":[{"count":0,"href":"https:\/\/dev2.capitalmind.com\/de\/wp-json\/wp\/v2\/posts\/23169\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dev2.capitalmind.com\/de\/wp-json\/wp\/v2\/media\/21318"}],"wp:attachment":[{"href":"https:\/\/dev2.capitalmind.com\/de\/wp-json\/wp\/v2\/media?parent=23169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dev2.capitalmind.com\/de\/wp-json\/wp\/v2\/categories?post=23169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dev2.capitalmind.com\/de\/wp-json\/wp\/v2\/tags?post=23169"},{"taxonomy":"news-event-type","embeddable":true,"href":"https:\/\/dev2.capitalmind.com\/de\/wp-json\/wp\/v2\/news-event-type?post=23169"},{"taxonomy":"dealtype","embeddable":true,"href":"https:\/\/dev2.capitalmind.com\/de\/wp-json\/wp\/v2\/dealtype?post=23169"},{"taxonomy":"blog-tag","embeddable":true,"href":"https:\/\/dev2.capitalmind.com\/de\/wp-json\/wp\/v2\/blog-tag?post=23169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}