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Endor AG with positive outlook for 2021: Significant growth in sales and earnings

DGAP-News: Endor AG / Key word(s): Forecast Endor AG with positive outlook for 2021: Significant growth in sales and earnings 25.01.2021 / 18:52 The issuer is solely responsible for the content of this announcement. Endor AG with positive outlook for 2021: Significant growth in sales and earnings

- Group sales in triple-digit millions for the first time and increasing profit expected for 2021

- Very good prospects for virtual racing (simracing) also due to expected launch of new racing video game Gran Turismo 7 (GT7)

- Further investments in personnel, R&D and marketing planned

Landshut, January 25, 2021 - The Management Board of Endor AG has specified its outlook for the fiscal year 2021. Accordingly, the Management Board expects consolidated sales in the three-digit million range for the first time with simultaneously increasing profits. For comparison: In the fiscal year 2020, consolidated sales amounted to 90 million euros according to preliminary figures. The management is thus optimistic about the business outlook despite the challenging environment in 2021 due to the pandemic.

Thomas Jackermeier, CEO of Endor AG: "Due to the constantly changing pandemic situation, it is currently difficult to make exact forecasts. However, we have seen that the Corona pandemic in 2020 had no negative effect on our business. On the contrary, the initial restrictions, as onerous as they are, boosted consumers' enthusiasm for gaming and also their willingness to invest in steering wheels and other equipment. However, our growth cannot be attributed to these effects alone. Even before the pandemic, we were already seeing strong growth in demand for simracing - virtual racing - and we expect growth to slow significantly compared to 2020 but to continue over the next few years."

Endor AG has already successfully established the Fanatec brand as a specialist for sim-racing accessories in the past and is thus benefiting in particular from the e-sports boom. The expansion of the existing partnership with SRO Motorsports Group will also serve to optimally position the brand in the new fiscal year. The Fanatec brand will be the title sponsor of the renowned Fanatec GT World Challenge and the new Fanatec GT2 European Series for several years, and will thus be present in the media world when, for the first time, real and virtual sports are combined in one discipline in a racing series.