EQS-News
FORTEC Elektronik AG: Turnover and results after 9 months below the level from the previous year
- Turnover and results after 9 months below previous year
- Group operating EBIT down by 33%
- Forecast adjusted for current financial 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 |
- 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).