FORTEC Elektronik AG brings the 2021/2022 financial year to a close with a record result

EQS-News: FORTEC Elektronik Aktiengesellschaft / Key word(s): Annual Report/Annual Results
FORTEC Elektronik AG brings the 2021/2022 financial year to a close with a record result
28.10.2022 / 08:45 CET/CEST
The issuer is solely responsible for the content of this announcement.

FORTEC Elektronik AG brings the 2021/2022 financial year
to a close with a record result

• Group turnover EUR 89.0 million (previous year: EUR 77.4 million)

• Group EBIT margin of 9.5 % (previous year: 6.9 %) stands at the upper end of the forecast

• Proposed dividend of EUR 0.70 (previous year: EUR 0.60) for the 2021/2022 financial year

• Forecast for 2022/2023: Turnover of EUR 91 million to EUR 97 million and EBIT of EUR 8 million to EUR 9 million expected

FORTEC Elektronik AG is publishing its financial report for the 2021/2022 financial year (01/07/2021 – 30/06/2022) today, which can also be viewed by visiting the company's website (https://www.fortecag.de/en/investor-relations/reports/).

FORTEC Elektronik AG achieved a record result in the last financial year 2021/2022, despite challenging prevailing conditions.

In the 2021/2022 financial year (01/07/2021 - 30/06/2022), the FORTEC Group generated revenue of EUR 89.0 million (previous year: 77.4 million), which corresponds to an increase of around 15 % in absolute terms compared to the previous year. Earnings before interest and taxes (EBIT) increased significantly to EUR 8.5 million (previous year: EUR 5.3 million). The EBIT margin increased from 6.9 % in the previous year to 9.5 %. The consolidated net income for the year was EUR 6.3 million (previous year: EUR 3.8 million).

The results achieved therefore stand well above the forecast range from the previous year's Group management report (up to 12% growth in turnover and up to 10% Group EBIT growth) and within the optimistic range of the latest forecasts (turnover of EUR 85 to 90 million and EBIT of EUR 8.0 to 8.7 million).

Sandra Maile, CEO of FORTEC Elektronik AG, comments: "The positive turnover development and, in particular, the record EBIT result not only underline the robustness of FORTEC's business model, but also show that the measures already implemented as part of our "Grow Together 2025" strategy are paying off."

Despite the many economic uncertainties, the Management Board anticipates a further increase in Group revenue to between EUR 91 million and EUR 97 million in the current financial year 2022/2023. On the earnings side, the Management Board is currently planning conservatively due to the general rise in costs and expects a Group EBIT of between EUR 8 million and EUR 9 million. Sandra Maile adds: "The current high level of orders - the order backlog as at 30 September 2022 is around EUR 99 million - makes us optimistic about achieving our targets for the current financial year, subject to macroeconomic developments and the critical supply situation."

Dividends

The Management Board and Supervisory Board are maintaining their stable dividend policy and will propose a dividend as at 30 June 2022 of EUR 0.70 per share (previous year: EUR 0.60 per share) to the Annual General Meeting. The AGM will take place on 15 February 2023.

Earnings Call

For further details on the financial statements and current forecast, the Management Board, together with Montega, will host an Earnings Call on 2 November 2022, at 11:00 am.
The link to register for this can be found here: https://Montega CONNECT: FORTEC Elektronik AG - Earnings Call FY 2021/2022 or https://www.fortecag.de/en/investor-relations/fixed-dates/.

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.

28.10.2022 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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