EHNINGEN (dpa-AFX) - Engineering services provider Bertrandt continues to grapple with the crisis in the automotive sector. Over the past six months, the company reported a loss of just over 18 million euros, as announced on Wednesday in Ehningen (Boeblingen district). This compares to a loss of approximately 14 million euros in the same period last year.
The company stated in a press release that the results were driven by the ongoing automotive slump, project delays from specific clients, and the conflict in Iran. 'Combined with persistent trade disputes, there is a risk that the economic downturn will endure and that economic output could decline again in 2026,' Bertrandt added.
Revenue at the firm, in which VW-owned sports car manufacturer Porsche holds a 29 percent stake, stood at approximately 455 million euros, representing a slump of about 12 percent. Bertrandt shares fell by around 2 percent, extending their recent losing streak.
The stock, which was briefly listed on the MDax for a few months in the mid-2010s, has lost nearly half its value over the past twelve months. Due to heavy price declines in recent years, Bertrandt was also removed from the SDax in December 2030.
Since reaching a record high of nearly 140 euros in the spring of 2015, the share price has plummeted by more than 90 percent. The company's market capitalization has now fallen below 100 million euros.
Furthermore, job cuts were implemented, particularly at German locations. The company reported a headcount of 11,744 employees, 1,437 fewer than in the prior-year period. Bertrandt operates sites across Europe, the USA, Africa, and China. The exact number of employees remaining in Germany was not immediately clear./jdk/DP/zb
