FORTEC Elektronik AG: Turnover and results after 9 months below the level
from the previous year

EQS-News: FORTEC Elektronik Aktiengesellschaft / Key word(s): Preliminary
Results/9 Month figures
FORTEC Elektronik AG: Turnover and results after 9 months below the level
from the previous year

22.05.2024 / 08:13 CET/CEST
The issuer is solely responsible for the content of this announcement.

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FORTEC Elektronik AG: Turnover and results after 9 months below the level
from the previous year

  * Group turnover provisionally estimated at EUR 70 million, around 11 %
    down on the previous year's level (previous year: EUR 78.5 million)

  * Group operating EBIT of EUR 5.6 million (previous year: EUR 8.5 million)
    currently around 33 % below the previous year's level

  * 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)

  * Forecast for the 2023/2024 financial year adjusted: Group turnover of
    between EUR 95.0 and 100.0 million (previously: EUR 106.0 million to EUR
    116.0 million) and a Group EBIT of between EUR 7.0 and 9.5 million
    (previously: EUR 9.5 million to EUR 11.0 million) expected

As shown by the preliminary figures, FORTEC Elektronik AG was again able to
achieve a positive result in the first nine months of the current 2023/2024
financial year (01/07/2023 - 31/03/2024) even though the results are below
the forecast expectations, as it now apparent.

In the first nine months of the 2023/2024 financial year, the FORTEC Group
achieved group turnover of around EUR 70 million (previous year: EUR 78.5
million) and was therefore around 11 % below the previous year's turnover.
Earnings before interest and taxes (EBIT), an important performance
indicator, were currently around 33% below the previous year's level at
around EUR 5.6 million.

At EUR 64 million, the order backlog remains at a stable high level, but has
returned to normal compared to the very successful previous year.

The Board of Directors of FORTEC Elektronik AG has therefore decided to
adjust the forecast for the current financial year, as it is becoming
apparent that the current 4th quarter of the 2023/2024 financial year will
not be able to compensate for the previous development in the 3rd quarter.
It now expects a group turnover between 95.0 and 100.0 million EUR
(previously: 106.0 million EUR to 116.0 million EUR) and a group EBIT
between 7.0 million EUR and 9.5 million EUR (previously: 9.5 million EUR to
11.0 million EUR).

Sandra Maile, CEO of FORTEC Elektronik AG, comments: "Despite the measures
taken in the second quarter, we are still feeling the effects of the weak
economy significantly. Due to the lack of dynamism, we were not able to
successfully implement everything that we had planned. Our customers are
currently recording full warehouses and low demand. We started 2024 with
optimistic signs but numerous geopolitical challenges are currently
affecting the sales markets. It is therefore even more important that we use
this time to push ahead with innovative products and to diversify ourselves
regionally even further."

Call invitation

The announcement for the 3rd quarter of the 2023/2024 financial year will be
published on the FORTEC Elektronik AG website at
https://www.fortecag.de/en/investor-relations/reports/ on 29 May 2024.

Further details on the current forecast will be announced by the management
board during an earnings call today at 11:00. The link to register for this
is available at Montega Connect - FORTEC Elektronik AG Q&A Session

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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22.05.2024 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:    1908157

End of News EQS News Service
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1908157 22.05.2024 CET/CEST