FORTEC Elektronik AG starts the 2022/2023 financial year successfully

EQS-News: FORTEC Elektronik Aktiengesellschaft / Key word(s): Preliminary Results/Quarter Results
FORTEC Elektronik AG starts the 2022/2023 financial year successfully
14.11.2022 / 08:00 CET/CEST
The issuer is solely responsible for the content of this announcement.

FORTEC Elektronik AG starts the 2022/2023 financial year successfully

• Group turnover of EUR 25.0 million around 18 % above the previous year’s level (PY: EUR 21.2 million).
• Group operating EBIT of EUR 2.7 million significantly higher than that of the previous year (PY: EUR 2.2 million).
• The order book of EUR 98.6 million on 30 September 2022 exceeds that of the previous year (PY: EUR 68.6 million) by more than 40 %.

According to preliminary figures, FORTEC Elektronik AG recorded further sustainable earnings growth in the first quarter of the 2022/2023 financial year despite the challenging environment.

According to preliminary calculations, group turnover in the first quarter rose to around EUR 25.0 million (PY: 21.2 million) and therefore represented growth of around 18 % compared to the previous year.

Despite the increased material and staff costs, the earnings before interest and taxes (EBIT) of EUR 2.7 million increased disproportionally compared to the revenue, by around 23 % (PY: EUR 2.2 million). The pleasing development is due to sales growth and, good price implementation and currency gains.

“We had a successful start to the new financial year. But we are still planning conservatively. Cost visibility is currently very impaired and does not allow for precise estimates. However, the large order book makes us optimistic for the coming months and quarters”, comments Sandra Maile, CEO of FORTEC Elektronik AG.

The announcement for the first quarter of 2022/2023 will be available on the company's website (https://www.fortecag.de/en/investor-relations/reports/) from 25 November 2022.

Sandra Maile

Chair of the Management Board

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. As of 1 April 2020, the operational business was leased to two subsidiaries. As a holding company, FORTEC AG is now responsible 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.

14.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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