FORTEC Elektronik AG continues its success story with a record result in the 2021/2022 financial year

DGAP-News: FORTEC Elektronik Aktiengesellschaft / Key word(s): Annual Results/Preliminary Results
FORTEC Elektronik AG continues its success story with a record result in the 2021/2022 financial year
23.08.2022 / 08:00
The issuer is solely responsible for the content of this announcement.

FORTEC Elektronik AG continues its success story with a record result in the 2021/2022 financial year

In the past financial year 2021/2022, FORTEC Elektronik AG achieved a record result despite challenging general conditions in the form of pandemic-related supply bottlenecks for primary products, which were further exacerbated by the war in Ukraine, as well as additional inflation-related input price effects.

In the 2021/2021 financial year (01.07.2021 - 30.06.2022), the FORTEC Group generated revenue of EUR 89 million (PY: EUR 77.4 million), which corresponds to an increase of around 15 % in absolute terms compared to the previous year. Earnings before interest and taxes (EBIT) increased significantly to
EUR 8.6 million (PY: EUR 5.3 million). The EBIT margin increased from 6.9 % in the previous year to 9.7 %. The consolidated net income for the year was EUR 6.4 million (PY: EUR 3.8 million).

The positive   business development of FORTEC Elektronik AG confirms the robust business model of the Group and also shows that FORTEC has successfully overcome the operational supply chain challenges it has faced, has been able to adjust the prices of its products to the new market conditions to the greatest extent possible, and that its strategy to create more value and design-in projects is taking hold. This led to a significant increase in profitability in the past financial year 2021/2022 compared to the previous year.

Sandra Maile, CEO of FORTEC Elektronik AG, comments: “We coped brilliantly with the indirect but challenging effects of the pandemic and the war in Ukraine in the past business year and even slightly exceeded analysts' expectations. The successful trend of turnover and, in particular, the record EBIT result in the 2021/2022 business year show that we are on a very good path with the measures already implemented as part of our “Grow Together 2025” strategy. Higher product complexity and a broad mix of end products, good price penetration, elevation of synergies, but also the expansion of our warehouse capacity in 2019 have paid off.”  

The specified figures for the FORTEC financial year are preliminary, unaudited. The audited consolidated annual financial report will be published on the Company's website on 28 October 2022.

Sandra Maile

CEO

FORTEC Elektronik AG | Augsburger Str. 2b | 82110 Germering | Germany
Phone: +49 89 894450 232

aktie(at)fortecag.de | www.fortecag.de

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FORTEC Elektronik AG (ISIN Share: DE 0005774103, WKN: 577410), based in Germering, Germany, was founded in 1984 as an internationally active distributor of standard solutions in the field of power supplies, embedded systems and displays. In addition, the FORTEC Group today offers customer-specific developments and complete system developments. Since April 2020, FORTEC AG is now responsible as a holding company for controlling the affiliated companies, the strategy of the group and essential parts of the administration. FORTEC AG has subsidiaries in Germany, Switzerland, the UK and the USA.

23.08.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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