FORTEC Elektronik AG confirms the preliminary figures for the first half of the 2023/2024 financial year
- Group turnover of EUR 47.0 million around 5 % above the previous year’s level (previous year: EUR 49.4 million)
- Group EBIT of EUR 4.5 million close to the value of the previous year (previous year: EUR 4.6 million)
- Order book on 31 December 2023 at EUR 68.0 million getting back to normal (30 June 2023: EUR 83.0 million)
FORTEC Elektronik AG has published its half-year report for 2023/2024. After the first six months of the current 2023/2024 financial year (01 July 2023 - 31 December 2023), the Group turnover of EUR 47.0 million (previous year: EUR 49.4 million) is only slightly below the half year level of the previous record year and therefore confirms the preliminary figures published on 05 February 2024.
The data visualisation segment contributed EUR 29.1 million (previous year: EUR 32.0 million) and the power supplies segment EUR 17.8 million (previous year: EUR 17.5 million) to the total turnover.
Earnings before interest and taxes (EBIT) at EUR 4.5 million (previous year: EUR 4.6 million) are roughly at the level of the previous year. The EBIT margin based on this was even able to be increased slightly to 9.6 % (previous year: 9.4 %) and is therefore close to the medium-term target range.
The consolidated net profit in the first half of 2023/2024 was EUR 3.2 million (previous year: EUR 3.4 million) and the earnings per share were accordingly EUR 0.99 (previous year: EUR 1.04).
The order book on 31 December 2023 was EUR 68.0 million (30 June 2023: EUR 83.0 million) and has therefore normalised compared to the previous year thanks to improved delivery capacity.
Sandra Maile, CEO of FORTEC Elektronik AG, comments: “Economically challenging times remain, in which you have to prove yourself. The fact that the results are close to those of the previous record year is a positive confirmation of our total annual target for the current financial year. We are also delighted with our progress in our new development location in Cairo. We will employ 9 software and hardware developers there from 1st April. With the adoption of our Strong Together 2030 strategy, we have also set the course for our medium-term growth.”
Assuming that there will be no deterioration to the economic conditions in the current 2023/2024 financial year and as long as the measures already initiated in the second quarter take effect as planned, the Management Board confirms its forecast from the 2022/2023 financial report.
The FORTEC Elektronik AG 2023/2024 half-year report is available on the company website at https://www.fortecag.de/en/investor-relations/reports/.
FORTEC also invites interested analysts, investors and members of the press to attend the earnings call regarding the 2023/2024 half-year report at 14:00 (CET) today. You can register at the following link: Registration | FORTEC AG Earnings-Call HY 2023/2024 by Montega
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.
