DGAP-News

​​​​​​​Endor AG gives outlook for virtual Annual General Meeting 2021 - Seite 2

The second candidate, Rudolf Dittrich, has gathered extensive expertise in motorsport and Formula 1 racing in his career to date. Among other things, he worked as a vehicle dynamics and drive control engineer for the BMW Williams F1 Team and as project manager for drivability and competition analysis in the BMW Sauber F1 Team. In his current position, he is responsible for overall vehicle development at BMW Group Motorsport. He is also a guest lecturer at the Technical University of Munich. His education includes studies in general mechanical engineering and automotive engineering at the FH Regensburg with a degree in engineering.

Thomas Jackermeier, CEO of Endor AG: "On behalf of the Board of Management, I would like to express my sincere thanks to Thomas Mayrhofer and Richard Rösener for their contribution to the Supervisory Board of Endor AG. At the same time, I believe that with Ingo Weber and Rudolf Dittrich we have once again found two strong experts for the new composition of the Supervisory Board. I am particularly pleased that Mr. Weber can contribute his expertise in international accounting and Mr. Dittrich his experience in motor sports and Formula 1. This would be a strong combination of expertise that would definitely benefit Endor AG."

At the 2021 Annual General Meeting, the Executive Board will also provide a summary of the 2021 business performance to date in addition to a review of 2020. For fiscal year 2021, the Management Board expects consolidated sales to be in the low three-digit million range for the first time, with profits rising slightly at the same time. However, sales in the second quarter will still be down on the prior-year quarter and EBIT will be negative. This is due to the updating and expansion of the product range, the active renewal of inventories and the extraordinarily successful Q2 2020. However, the Executive Board remains very positive for the second half of 2021. A major reason for this is also that the recently introduced new product CSL DD has met with a very positive response. There are already high advance orders, which will, however, only have an effect on sales from the third quarter of 2021.