DGAP-News

Endor AG publishes audited figures for the financial year 2021

DGAP-News: Endor AG / Key word(s): Annual Results Endor AG publishes audited figures for the financial year 2021 31.05.2022 / 11:11 The issuer is solely responsible for the content of this announcement. Endor AG publishes audited figures for the financial year 2021

- Group sales of EUR 81.3 million (previous year: EUR 90.2 million) confirmed in 2021

- EBIT (consolidated earnings before financial result and taxes) of EUR 6.6 million in 2021 after EUR 20.7 million in the previous year

- Positive outlook for the current financial year

Landshut, 31 May 2022 - Endor AG today published its audited business figures for 2021. According to the figures, the developer of high-quality input devices such as high-end steering wheels and pedals in the simracing market achieved a turnover of 81.3 million euros, which is just under 10 % below the previous year's value. The company was still able to record an increase in demand for its products, but this could not be converted into a renewed increase in turnover due to delivery bottlenecks and disruptions in the worldwide logistics chains. This prevented a temporarily subdued sales development, especially in the second and third quarters of 2021, which did not run parallel to the very good demand.

In the fourth quarter of 2021, however, Endor AG was again able to achieve record sales of 30.0 million euros, thus leaving the sales slowdown at the middle of 2021 behind. The strong sales development continued in the first quarter of 2022 with a new sales record of 46.5 million euros.

EBIT (consolidated earnings before financial result and taxes) amounted to EUR 6.6 million in 2021 after EUR 20.7 million in the previous year. The lower result is due to the decline in sales, whereas the structures have already been adjusted to the originally planned strong growth and higher sales volumes, which increased the cost base. The EBIT margin in 2021 was 8% after 23% in the previous year.

Overall, the revenue and earnings forecast adjusted in August 2021, according to which the Executive Board expected a decline in EBIT and revenue below the 100-million-euro mark, was achieved.