FORTEC Elektronik Aktiengesellschaft / DE0005774103
30.10.2024 - 08:56:21FORTEC Elektronik AG publishes the financial report for the 2023/2024 financial year with a cautiously optimistic outlook
| FORTEC Elektronik Aktiengesellschaft / Key word(s): Annual Results/Miscellaneous FORTEC Elektronik AG publishes the financial report for the 2023/2024 financial year with a cautiously optimistic outlook 30.10.2024 / 08:56 CET/CEST The issuer is solely responsible for the content of this announcement. FORTEC Elektronik AG publishes the financial report for the 2023/2024 financial year with a cautiously optimistic outlook Group turnover in the 2023/2024 financial year at EUR 94.5 million, around 11 % down on the previous year’s record value (previous year: EUR 105.9 million) Group EBIT of EUR 7.1 million within the forecast range (previous year: EUR 10.7 million) Dividend recommendation of EUR 0.85 per share for the 2023/2024 financial year (previous year: 0.85 EUR) Forecast for 2024/2025: A group turnover of EUR 95.0 million to EUR 110.0 million and a Group EBIT of EUR 6.0 million to EUR 8.0 million are expected FORTEC Elektronik AG publishes audited consolidated figures and the financial report for the financial year 2023/2024 today (reporting period: 01 July 2023 - 30 June 2024), which is available on the company's website (https://www.fortecag.de/investor-relations/berichte/). With a consolidated turnover of EUR 94.5 million (previous year: EUR 105.9 million), the revenue forecast that was last adjusted in May 2024 in a range of EUR 95 million to EUR 100 million was almost reached. At the same time, earnings before interest and taxes (EBIT) as an important performance indicator decreased to EUR 7.1 million (previous year: EUR 10.7 million). Therefore, the Group EBIT for the last financial year, 2023/2024, is within the forecast target range of EUR 7.0 million to EUR 9.5 million. The consolidated net income for the year was EUR 5.3 million (previous year: EUR 7.6 million). Earnings per share were EUR 1.63 following EUR 2.32 in the previous year. The data visualisation segment contributed to the total turnover with a turnover of EUR 56.7 million (previous year: EUR 68.0 million). The turnover of the power supplies segment was EUR 37.8 million (previous year: EUR 37.9 million), at the previous year’s level. Sandra Maile, CEO of FORTEC Elektronik AG, comments: “Despite the worldwide recovery still being missing and the continued difficult conditions both domestically and internationally, we, the FORTEC team were again able to achieve a solid result. Our “Strong Together 2030” strategy that we adopted in the 2023/2024 financial year serves as a guideline for the digital and sustainable transformation that prepares FORTEC for a successful future in the medium term.” Forecast The Management Board is forecasting an optimistic Group turnover of EUR 95.0 million to EUR 110.0 million and a Group EBIT of EUR 6.0 million to EUR 8.0 million for the upcoming 2024/2025 financial year, which will mainly be influenced by the planned future investments. The forecast is based on the Management Board’s current assessment of the situation and is subject to macroeconomic developments and the geopolitical uncertainties. Sandra Maile adds: “Even though we are expecting a weaker first quarter of the new financial year according to initial estimates, a book-to-bill of 1.3 and an order backlog of EUR 57.2 million on 30/09/2024 (30/06/2024: EUR 53.4 million) indicate positive tendencies that point to recovery in the first three months.” Dividends The Management Board and Supervisory Board are maintaining their long-term dividend policy and propose distributing the same amount as the previous year of EUR 0.85 per share of the net profit of FORTEC Elektronik AG as of 30 June 2024. Earnings Call Further details on the annual financial statements and the current forecast will be announced by the Management Board during an earnings call at 14:00 (CET). The link to register for this is available at Montega CONNECT: FORTEC Elektronik AG - Earnings Call for the 2023/2024 Financial Report. Sandra Maile Chair of the Management Board FORTEC Elektronik AG | Augsburger Str. 2b | 82110 Germering | Germany Phone: +49 89 894450 232 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. 30.10.2024 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. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com |
| 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: | 2018229 |
| End of News | EQS News Service |
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