FORTEC Elektronik Aktiengesellschaft: financial year 2021/2022 more profitable than forecasted

DGAP-News: FORTEC Elektronik Aktiengesellschaft / Key word(s): Forecast/Change in Forecast
FORTEC Elektronik Aktiengesellschaft: financial year 2021/2022 more profitable than forecasted
29.06.2022 / 09:13
The issuer is solely responsible for the content of this announcement.

FORTEC Elektronik AG: 2021/2022 financial year more profitable than forecasted

FORTEC Elektronik AG substantiated its revenue forecast for the current financial year 2021/2022 (30 June) today, raising its operating earnings (EBIT) forecast once again.

The positive business development of FORTEC Elektronik AG validates the group’s robust business model. The 2021/2022 figures published to date also show that FORTEC has successfully overcome the operational supply chain challenges it has faced, has been able to adjust the prices of its products to the new market conditions to the greatest extent possible, and that its strategy to create more value and design-in projects is taking hold. This will result in a significant increase in profitability in the current financial year 2021/2022 compared to the previous year. For this reason, the Executive Board expects the earnings forecast made thus far for the current 2021/2022 financial year to be exceeded.

The Executive Board has firmed up the 2021/2022 forecast for Group turnover with a figure of between EUR 85 and 90 million (previously: growth of up to 15% compared to the previous year’s figure of EUR 77.4 million) and has now raised the operating earnings (EBIT) forecast to between EUR 8.0 and 8.7 million (previously: an increase of up to 20% compared to the previous year’s figure of EUR 5.3 million).

Sandra Maile made the following comments: “The successful trend in turnover and especially EBIT in the 2021/2022 financial year shows that we are on the right path with our “Grow Together 2025” strategy. Higher product complexity and a broad mix of end products, good price penetration, but also the expansion of our warehouse capacity in 2019 are now paying off.”

Sandra Maile
CEO

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.

29.06.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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