Adjustment to the turnover and earnings forecast for the 2023/2024 financial year

FORTEC Elektronik AG: Adjustment to the turnover and earnings forecast for the 2023/2024 financial year

After evaluating the preliminary figures, FORTEC Elektronik AG has not reached the turnover and earnings figures from the previous year in the first 9 months of the 2023/2024 financial year due to the general tense economic circumstances and the general cost increases. In the 9-month period for 2023/2024, the preliminary group turnover was around EUR 70.0 million (previous year: EUR 78.5 million), and earnings before interest and taxes (EBIT) at around EUR 5.6 million (previous year: EUR 8.5 million).

As it has become apparent that the current 4th quarter of the 2023/2024 financial year cannot compensate for the declining development in the 3rd quarter, the FORTEC Elektronik AG management board has decided to adjust the forecast for the current financial year. It now expects a group turnover of between EUR 95.0 and 100.0 million (previously: EUR 106.0 million to EUR 116.0 million) and a group EBIT of between EUR 7.0 million and EUR 9.5 million (previously: EUR 9.5 million to EUR 11.0 million).

The announcement for the 3rd quarter of the 2023/2024 financial year will be published on the FORTEC Elektronik AG website at https://www.fortecag.de/en/investor-relations/reports/ on 29 May 2024.

Sandra Maile

Chair of the Management Board

FORTEC Elektronik AG | Augsburger Str. 2b | 82110 Germering | Germany
Phone: +49 89 894450 232

aktie@fortecag.de | www.fortecag.de

FORTEC Elektronik AG (ISIN Share: DE0005774103, WKN: 577410), based in Germering, Germany, was founded in 1984 as an international distributor of standard solutions in the field of power supplies, embedded systems and displays. In addition, the FORTEC Group today offers customer-specific developments and complete system developments. Since April 2020, FORTEC Elektronik AG has been the holding company responsible for management of the affiliated companies, group strategy and essential parts of the administration. FORTEC Elektronik AG has subsidiaries in Germany, Switzerland, the UK and the USA.