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

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

In the 2023/2024 financial year (01/07/2023 - 30/06/2024), the FORTEC Group achieved a revenue of around EUR 95 million and is therefore around 11 % below the record value of EUR 105.9 million in the previous year. Earnings before interest and taxes (EBIT), an important success indicator was EUR 7 million, significantly below the record result of EUR 10.7 million from the previous year. The EBIT margin based on this decreased accordingly from 10.0 % to 7.4 %. The Group profit was in accordance with preliminary calculations as EUR 5.4 million (previous year: EUR 7.6 million).

FORTEC is therefore at the bottom end of the forecast range for the 2023/2024 financial year, as adjusted in May 2024. This expected a Group revenue of EUR 95 million to EUR 100 million and a Group EBIT of EUR 7 million to EUR 9.5 million.

The order book as of 30 June 2024 has normalised to a level of EUR 53.4 million (previous year: EUR 83.0 million).

Sandra Maile, CEO of FORTEC Elektronik AG, comments: “The continuing difficult conditions both in Germany and around the world took some of our momentum after the record figures in 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 ongoing financial year, which will move us forward in the medium term. We cannot think in the short-term as a company in these unsure times in particular. FORTEC has now been successful in the market for 40 years, has been on the stock exchange since 1990 and has achieved reliable returns for its shareholders for many years. We want to continue to write this success story.”

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

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.