EQS News: According to preliminary figures, FORTEC Elektronik AG is in the forecast target range for the 2023/2024 financial year | 19.08.24

According to preliminary figures, FORTEC Elektronik AG
in the predicted target range for 2023/2024
fiscal year

According to preliminary figures, FORTEC Elektronik AG achieved a solid result in the past financial year 2023/2024 despite the challenging environment.

In the financial year 2023/2024 (01/07/2023 – 30/06/2024), the FORTEC Group achieved a turnover of around EUR 95 million, which is around 11% below the record value of EUR 105.9 million of the previous year. Earnings before interest and taxes (EBIT), an important indicator of success, amounted to EUR 7 million, significantly below the record result of EUR 10.7 million of the previous year. The EBIT margin on this basis fell accordingly from 10.0% to 7.4%. According to preliminary calculations, the group profit amounted to EUR 5.4 million (previous year: EUR 7.6 million).

FORTEC is therefore at the lower end of the forecast range for the 2023/2024 financial year, as adjusted in May 2024. This assumed group sales of EUR 95 million to EUR 100 million and group EBIT of EUR 7 million to EUR 9.5 million.

The order portfolio as of June 30, 2024 has been normalized to a level of EUR 53.4 million (previous year: EUR 83.0 million).

Sandra Maile, CEO of FORTEC Elektronik AGnotes: “The continuing difficult conditions in Germany and worldwide have robbed us of some of our momentum after the record figures of the previous year. But we were still able to develop our financial strength. We are therefore well equipped for the future and have already secured a package of measures and investments for the current financial year that will help us move forward in the medium term. As a company, we cannot think short-term in these uncertain times. FORTEC has been successfully on the market for 40 years, has been listed on the stock exchange since 1990 and has been achieving reliable returns for its shareholders for many years. We want to continue writing this success story.”

The audited consolidated annual report will be available from October 30, 2024 at https://www.fortecag.de/en/investor-relations/reports/.

Sandra Maile
Chairman of the Board of Directors

FORTEC Elektronik AG | AugsburgerStr. 2b | 82110 Germering | Germany
Phone: +49 89 894450 232
[email protected] | 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 fields 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 the management of the affiliated companies, the group strategy and essential parts of the administration. FORTEC Elektronik AG has subsidiaries in Germany, Switzerland, the UK and the USA.
For better readability, the generic masculine form is used in the text. Of course, all genders are referred to equally, without the intention to discriminate.