With a successful first quarter, FORTEC Elektronik AG has laid a solid foundation for the new 2023/2024 financial year

EQS-News: FORTEC Elektronik Aktiengesellschaft / Key word(s): Quarter Results/Miscellaneous
With a successful first quarter, FORTEC Elektronik AG has laid a solid foundation for the new 2023/2024 financial year
29.11.2023 / 09:42 CET/CEST
The issuer is solely responsible for the content of this announcement.

With a successful first quarter, FORTEC Elektronik AG has laid a solid foundation for the new 2023/2024 financial year

• Group turnover increased by 6 % to EUR 26.6 million (previous year: EUR 25.0 million)

• Group EBIT rises disproportionately by 29 % to EUR 3.5 million (previous year: EUR 2.7 million)

• Order book as of 30 September 2023 at EUR 73.9 million. (30/06/2023: EUR 83.0 million)

FORTEC Elektronik AG has started the new financial year successfully despite the challenging overall situation. This has emerged from the announcement on the first quarter of the 2023/2024 financial year, which is published today (reporting period: 01/07/2023 – 30/09/2023) and which is available on the company website (https://www.fortecag.de/en/investor-relations/reports/).

The company’s sales revenues in the first quarter increased by 6 % from EUR 25.0 million in the previous year to EUR 26.6 million in the new financial year. This development is mainly thanks to a 16 % turnover increase in the power supplies segment that benefited mainly from an increased share of sales in the defence sector. The data visualisation segment also increased its turnover slightly. Thanks to this and in conjunction with good cost management, earnings before interest and taxes (EBIT) increased disproportionately by around 29 % compared to the previous year, from EUR 2.7 million to EUR 3.5 million. The order book of EUR 73.9 million at the end of September has decreased again when compared to 30 June 2023 but still remains significantly above the value from 2020 before worldwide supply chains were impaired.

On the basis of the business development up to now, and subject to further geopolitical and world economic developments, the Management Board confirms its forecast for the 2023/2024 financial year and continues to expect a group turnover in the range of EUR 106.0 million to EUR 116.0 million and a group EBIT in the range of EUR 9.5 million to EUR 11.0 million.

Sandra Maile, CEO of FORTEC Elektronik AG, comments: “Looking back proudly on the first quarter of the 2023/2024 financial year, this renewed growth motivates us to continue to withstand the global challenges and to achieve sustainable value for our shareholders.”

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.

For better legibility, the generic masculine form is used in the text. Of course, all genders are referred to equally without any intent to discriminate.

29.11.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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