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EQS-News: FORTEC Elektronik Aktiengesellschaft
/ Key word(s): 9 Month figures/Quarter Results
FORTEC Elektronik AG confirms
FORTEC Elektronik AG is publishing its interim announcement regarding the third quarter of the 2023/2024 financial year (01/07-30/06) today. This can be viewed by visiting the company’s website (https://www.fortecag.de/en/investor-relations/reports/). These results confirm the preliminary figures that were published on 22 May 2024. In the first nine months of the current 2023/2024 financial year, group sales revenues decreased by around 11 % from EUR 78.5 million in the previous year to EUR 70.0 million. Earnings before interest and taxes (EBIT) reduced disproportionally compared to the turnover by 33 % from EUR 8.5 million in the previous year to EUR 5.7 million particularly due to reduced stock changes and increased staff costs when compared to the same, very successful period in the previous year. The data visualisation segment contributed EUR 41.7 million (previous year: EUR 50.7 million) and the power supplies segment EUR 28.3 million (previous year: EUR 27.9 million) to the group turnover. Due to the ongoing power supply orders in the defence sector, the segment was able to achieve a slight increase compared to the previous year despite the weak economy. The order book at EUR 64.0 million remains at a stable level compared to the previous quarter but at a more normalised level compared to the very successful previous year (previous year: EUR 92.4 million, 31 December 2023: EUR 68.0 million). Based on the current results and the lack of market dynamism, the management board adjusted the forecast on 22 May 2024 to a group turnover of EUR 95.0 to 100.0 million (previously: EUR 106.0 to 116.0 million) and a group EBIT of between EUR 7.0 and 9.5 million (previously: EUR 9.5 to 11.0 million).
Sandra Maile, CEO of FORTEC Elektronik AG, comments: “We are convinced that measures we have initiated will take effect completely if the market recovery that we are hoping for occurs in the second half of the year. We are therefore starting to implement our “Strong Together” strategy in order to expand our growth further in the medium-term. FORTEC is positioned robustly thanks to its local presence, global networking, diversification and high added value.” Sandra Maile Chair of the Management Board
FORTEC Elektronik AG | Augsburger Str. 2b | 82110 Germering | Germany aktie@fortecag.de | www.fortecag.de 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.
29.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | FORTEC Elektronik Aktiengesellschaft |
| Augsburger Str. 2b | |
| 82110 Germering | |
| Germany | |
| Phone: | +49 (0)89 89 44 50 0 |
| Fax: | +49 (0)89 89 44 50 123 |
| E-mail: | aktie@fortecag.de |
| Internet: | www.fortecag.de |
| ISIN: | DE0005774103 |
| WKN: | 577410 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1913071 |
| End of News | EQS News Service |
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1913071 29.05.2024 CET/CEST
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