FORTEC Elektronik Aktiengesellschaft confirms preliminary figures for the first half of 2022/2023 and continues on its growth trajectory

EQS-News: FORTEC Elektronik Aktiengesellschaft / Key word(s): Half Year Report/Half Year Results
FORTEC Elektronik Aktiengesellschaft confirms preliminary figures for the first half of 2022/2023 and continues on its growth trajectory
30.03.2023 / 08:26 CET/CEST
The issuer is solely responsible for the content of this announcement.

FORTEC Elektronik AG confirms preliminary figures for
the first half of 2022/2023 and continues on its growth trajectory

• Group turnover of EUR 49.4 million around 18 % above the previous year’s level (PY: EUR 42.1 million)
• Group operating EBIT of EUR 4.6 million (PY: EUR 4.1 million) up by around 14 %
• Order book still high as of 31 December 2022, at EUR 95.0 million (PY: EUR 73.7 million)
• Full year forecast for 2022/2023 confirmed

FORTEC Elektronik AG has continued its growth trajectory successfully in the first half of 2022/2023. In the first six months of the current 2022/2023 financial year, the FORTEC Group achieved a turnover of EUR 49.4 million (PY: EUR 42.1 million). The increase in turnover was therefore around 18 %. Sales of high-margin industrial monitors in the data visualisation segment and power supplies for harsh environments developed particularly dynamically.

With an increase of around 14 %, the operational earnings before interest and taxes (EBIT) increased significantly to EUR 4.6 million despite the inflationary environment and the associated cost increases (PY: EUR 4.1 million). The EBIT margin therefore remained almost unchanged at 9.4 % despite higher general operating costs and agreed wage increases (PY: 9.7 %).

The consolidated net profit increased by around 7 % to EUR 3.4 million (PY: EUR 3.2 million). Earnings per share therefore rose from EUR 0.98 to EUR 1.04.

“Despite the market environment remaining challenging, in the first half of 2022/2023, we were able to continue the dynamic business development from the previous year and achieve a highly satisfactory result. With the order book standing at EUR 95.0 million (PY: EUR 73.7 million) on 31 December 2022, we’re now heading into the second half of the year with a considerable tail wind”, commented Sandra Maile, CEO of FORTEC Elektronik AG on the half-year results for the 2022/2023 financial year.

Provided that there is no deterioration to the prevailing conditions in the current 2022/2023 financial year, the Management Board confirms its forecast and expects a further increase in Group turnover to between EUR 91 million and EUR 97 million, and expects a Group EBIT in the range of EUR 8.0 million to EUR 9.0 million.

The FORTEC Elektronik AG 2022/2023 half-year report and a current investor presentation are available on the company website at https://www.fortecag.de/en/investor-relations/ .

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: DE0005774103, WKN: 577410), based in Germering, Germany, was founded in 1984 as an international 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 Elektronik AG has been the holding company responsible for management of the affiliated companies, group strategy and essential parts of the administration. FORTEC Elektronik AG has subsidiaries in Germany, Switzerland, the UK and the USA.

30.03.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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