FORTEC Elektronik AG confirms the preliminary figures after 9 months

EQS-News: FORTEC Elektronik Aktiengesellschaft / Key word(s): 9 Month
figures/Quarter Results
FORTEC Elektronik AG confirms the preliminary figures after 9 months

29.05.2024 / 11:36 CET/CEST
The issuer is solely responsible for the content of this announcement.

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FORTEC Elektronik AG confirms
the preliminary figures after 9 months

  * Group turnover of EUR 70.0 million around 11 % below the previous year's
    level (previous year: EUR 78.5 million)

  * Group EBIT of EUR 5.7 million reduced by 33 % (previous year: EUR 8.5
    million)

  * Order book as of 31 March 2024 remains stable at EUR 64.0 million
    (previous year: EUR 92.4 million, 31 December 2023: EUR 68.0 million)

FORTEC Elektronik AG is publishing its interim announcement regarding the
third quarter of the 2023/2024 financial year (01/07-30/06) today. This can
be viewed by visiting the company's website (
https://www.fortecag.de/en/investor-relations/reports/). These results
confirm the preliminary figures that were published on 22 May 2024.

In the first nine months of the current 2023/2024 financial year, group
sales revenues decreased by around 11 % from EUR 78.5 million in the
previous year to EUR 70.0 million. Earnings before interest and taxes (EBIT)
reduced disproportionally compared to the turnover by 33 % from EUR 8.5
million in the previous year to EUR 5.7 million particularly due to reduced
stock changes and increased staff costs when compared to the same, very
successful period in the previous year.

The data visualisation segment contributed EUR 41.7 million (previous year:
EUR 50.7 million) and the power supplies segment EUR 28.3 million (previous
year: EUR 27.9 million) to the group turnover. Due to the ongoing power
supply orders in the defence sector, the segment was able to achieve a
slight increase compared to the previous year despite the weak economy.

The order book at EUR 64.0 million remains at a stable level compared to the
previous quarter but at a more normalised level compared to the very
successful previous year (previous year: EUR 92.4 million, 31 December 2023:
EUR 68.0 million).

Based on the current results and the lack of market dynamism, the management
board adjusted the forecast on 22 May 2024 to a group turnover of EUR 95.0
to 100.0 million (previously: EUR 106.0 to 116.0 million) and a group EBIT
of between EUR 7.0 and 9.5 million (previously: EUR 9.5 to 11.0 million).

Sandra Maile, CEO of FORTEC Elektronik AG, comments: 'We are convinced that
measures we have initiated will take effect completely if the market
recovery that we are hoping for occurs in the second half of the year. We
are therefore starting to implement our 'Strong Together' strategy in order
to expand our growth further in the medium-term. FORTEC is positioned
robustly thanks to its local presence, global networking, diversification
and high added value.'

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

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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.


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29.05.2024 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.

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   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:    1913071

End of News EQS News Service
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1913071 29.05.2024 CET/CEST