Strong third quarter in business year 2018/2019 - FORTEC Elektronik AG increases sales revenues by 13.1% to 67.0 Mio. Euro

DGAP-News: FORTEC Elektronik Aktiengesellschaft / Key word(s): 9 Month figures/Forecast

29.05.2019 / 08:30
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Strong third quarter in business year 2018/2019 -

FORTEC Elektronik AG increases sales revenues by 13.1% to 67.0 Mio. Euro

FORTEC Elektronik AG is maintaining its successful course in the third quarter of business year 2018/2019. The corporation has benefitted from measures that have been initiated since 2017 concerning sales and the achievement of synergies. On this basis FORTEC attained an organic revenue growth in the forecasted range. The acquisition of the two UK entities at the beginning of the current business year has helped and in comparison to the figures for the same period last year, FORTEC group raised its sales revenues in the third quarter by 2.5 million Euros up to 24.7 million Euros. The total result rose by 27.2% to 1.8 million Euros in the corresponding period.

In the first nine months of the current business year, FORTEC group generated sales revenues of 67.0 million Euros (PY: 59.2 million Euros), which adds up to a growth of 13.1%. The cumulated EBIT increased to 6.1 million Euros (PY: 4.8 million Euros). Thus the EBIT margin in the reference period also rose from 8.2% to 9.2%. The net income was 4.3 million Euros (PY: 3.3 million Euros). Thereby FORTEC group generated a net return on sales of 6.5% (PY: 5.6%). The total result in the first nine months 2018/2019 improved to 4.6 million Euros (PY: 2.7 million Euros) and earnings per share were 1.33 Euro (PY: 1.12 Euro).

FORTEC group increases EBIT forecast

The FORTEC board of directors is pleased by the positive business performance in the first nine months. The achieved results confirm the company's path to success. An business backlog of 48 million Euros provides an excellent basis for the upcoming months. The forthcoming relocation of the subsidiary Emtron to the new company building in Riedstadt provides the foundation for future growth. Against this background the board of directors is confident about the sales revenue forecast. In a complex geopolitical situation FORTEC group maintains cautious optimism for business year 2018/2019 and expects an organic revenue growth in the middle single-digit range plus 6 million Euros revenue from the acquired UK companies. Depending on the further development of the inventory change and due to the positive business development we slightly enhance our EBIT forecast to approx. 7.5 million Euros.

Contact details:
Investor Relations
aktie@fortecag.de

Fortec Elektronik AG
Augsburger Str. 2b
82110 Germering

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