DGAP-News

Endor AG with positive outlook for 2021: Significant growth in sales and earnings - Seite 2

The expected launch of the racing video game GT7 (probably in Q3 or Q4), which is being developed by Polyphony Digital and published by Sony Interactive Entertainment, should once again boost sales in the simracing sector. The past has shown that the launch of popular racing games provides significant additional momentum in the steering wheel business. In particular, the Gran Turismo series is popular with consumers worldwide and is considered a blockbuster in the scene. Previous versions, such as GT5, have already sold 5.5 million copies worldwide within a month of release.^[1] Until the launch of GT7, Endor plans to introduce matching PlayStation 5 licensed products in the lower price range of the Fanatec range to the market.

András Semsey, CFO of Endor AG: "By placing new products in the lower price range of the Fanatec portfolio, we will be able to significantly expand our market share worldwide. In line with our top-down brand strategy, we are also consciously accepting slightly lower gross profit margins for this expansion. However, due to the overall strong growth, profits will continue to rise. In addition, we are planning extensive investments in fiscal 2021 to adapt our corporate structure to the continuing strong demand. In 2021, the entire IT infrastructure will be renewed, personnel will be acquired, and we will continue to make substantial investments in R&D. In addition, we will invest significantly in marketing. We will also invest significantly in marketing. The first-time sponsorship of the real GT racing series and the extensive cooperation also in e-sports with the organizer SRO are the largest marketing investments in Endor's history, but it will give us the opportunity to make the Fanatec brand even better known in motorsports worldwide and this will be reflected in increasing sales in the long term, according to our forecasts."

About Endor AG www.endor.ag

Endor AG develops and markets high-quality input devices such as high-end steering wheels and pedals for racing simulations on game consoles and PCs as well as driving school simulators. As a "brain factory", the company's focus is on the creative sector. Endor carries out product development and prototype construction under its own direction and together with specialized technology partners, primarily in Germany ("German engineering"). The products are mainly produced in Asia.