Endor AG / DE0005491666

Endor AG lowers revenue forecast and adjusts earnings forecast for 2023

EQS-Ad-hoc: Endor AG / Key word(s): Profit Warning


30-Jan-2024 / 11:22 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, 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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Landshut, January 30, 2024 – Endor AG ("Endor") today adjusted its revenues and earnings forecast on group level for the 2023 financial year. The adjustment has been made as part of the current preparation of the 2023 annual financial statements. The Management Board of Endor AG assumes that Group revenues for 2023 will be EUR 102-106 million, after previously expecting revenues in the range of EUR 105-115 million. This is due to supply chain disruptions in the fourth quarter of 2023 and results in a shift of revenues to 2024 in the amount of approximately EUR 4.0 million. Effects from the postponement of revenues are also reflected in the expected group earnings of Endor AG. In addition, further negative EBITDA effects arose in connection with the realignment of the purchasing strategy for chips and the implementation of reorganization measures. The EBITDA margin 2023 is therefore expected to be in the low negative double-digit percentage range (probably between -10% and -15% on a revenue basis – previously: mid-single-digit percentage range). Furthermore Endor has completed the review of the usability of chips that were additionally ordered due to the chip shortages in 2023. Although a large proportion of the chips can be used, the company expects in financial year 2023 a write-down in the low single-digit million euro range, which will have an impact below the EBITDA result. The exact amount of the effect will be assessed as part of the audit of the annual financial statements.   Notifying person:
Matthias Kosch, CFO

End of Inside Information

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30-Jan-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

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Language:	English
Company:	Endor AG
	E.ON-Allee 3
	84036 Landshut
	Germany
Phone:	[phone]
Fax:	[phone]
E-mail:	[e-mail]
Internet:	www.endor.ag
ISIN:	DE0005491666
WKN:	549166
Listed:	Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart
EQS News ID:	1826187

End of Announcement	EQS News Service

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1826187  30-Jan-2024 CET/CEST