DGAP-News

Endor AG publishes 2020 annual report and proposes dividend distribution for the first time

DGAP-News: Endor AG / Key word(s): Dividend/Annual Report Endor AG publishes 2020 annual report and proposes dividend distribution for the first time 31.05.2021 / 22:21 The issuer is solely responsible for the content of this announcement. Endor AG publishes 2020 annual report and proposes dividend distribution for the first time

Landshut, 31 May 2021 - Endor AG today presented its final figures for the 2020 financial year. Financially, Endor AG did not feel any negative effects in 2020, a year marked by the pandemic. Both production and supply chains continued to run according to plan. In addition, the curfews boosted the consumers' enthusiasm to play and also their willingness to invest in steering wheels and other equipment encouraged the company.

Thanks to these effects, Endor AG recorded a significant increase in revenues and earnings in the 2020 financial year in addition to its already strong growth course. At the same time, the company continued to invest heavily in future growth in 2020.

Thus, the revenues of the Endor Group more than doubled in 2020 from EUR 38.8 million in the previous year to EUR 90.2 million. The Endor Group's net profit tripled from EUR 4.2 million in the previous year to EUR 12.4 million in the 2020 financial year.

The unexpectedly strong increase in demand in the entire first half of 2020 led to supply bottlenecks in all important markets in the months from April to June. This slowed down sales growth somewhat and led to an unusually high order backlog at the end of the first half of the year. As a result, the company worked to increase product availability by significantly increasing production. By the end of the third quarter, this enabled most supply bottlenecks to be resolved and pre-orders to be delivered in a revenue-generating manner.

This slowed down sales growth somewhat and led to an unusually high order backlog at the end of the first half of the year. As a result, the company worked to increase product availability by significantly increasing production. By the end of the third quarter, this enabled most supply bottlenecks to be resolved and pre-orders to be delivered in a revenue-generating manner.