DGAP-News: FORTEC Elektronik Aktiengesellschaft: closes the first half of 2021/2022 with excellent operating result despite COVID pandemic and supply chain bottlenecks
DGAP-News: FORTEC Elektronik Aktiengesellschaft
/ Key word(s): Half Year Results/Half Year Report
FORTEC Elektronik AG closes
- Group turnover of EUR 42.1 million around 12 % above the previous year's level (EUR 37.5 million)
- Group operating EBIT more than doubled to EUR 4.1 million (PY: EUR 1.9 million)
- Order book as at 31 December 2021 increased significantly to EUR 73.7 million (PY: EUR 48.6 million)
FORTEC Elektronik AG is publishing its half-year report for the 2021/2022 financial year today. This can be viewed by visiting the company's website (https://www.fortecag.de/en/investor-relations/reports/).
During the first half of the current 2021/2022 financial year, the FORTEC Group generated sales of EUR 42.1 million (PY: EUR 37.5 million). The FORTEC Group was therefore able to increase turnover by 12% compared to the same period of the previous year - in an environment that continues to be characterised by the pandemic and bottlenecks in the supply chain.
Despite higher material and transport costs, profitability improved significantly during the reporting period due to sales growth and the continued good price implementation with customers. The operating earnings before interest and taxes (EBIT) more than doubled from EUR 1.9 million to around EUR 4.1 million.
The consolidated net profit grew by EUR 1.8 million to EUR 3.2 million (previous year: EUR 1.4 million). Earnings per share therefore rose from EUR 0.43 to EUR 0.98.
With the order book on 31 December 2021 standing at EUR 73.7 million (PY: EUR 48.6 million), a firm foundation has been established for the second half of the current financial year.
The company confirms the increased forecast published on 14 February 2022, supported by a solid order book and the successful business development in the first half of the year. The Management Board expects group turnover in the 2021/2022 financial year to grow by up to 15 % and group EBIT to increase by up to 20 %. FORTEC Elektronik AG's business performance will continue to be affected by the impacts of the global pandemic, the critical supply situation due to strained supply chains and the war in Ukraine. Accordingly, reliable forecasts with a longer-term perspective cannot be made at the present time.
30.03.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||FORTEC Elektronik Aktiengesellschaft|
|Augsburger Str. 2b|
|Phone:||+49 (0)89 89 44 50 0|
|Fax:||+49 (0)89 89 44 50 123|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1313907|
|End of News||DGAP News Service|
Currently there is a rather positive sentiment for Fortec Elektronik AG with 3 Buy predictions and 0 Sell predictions.
As a result the target price of €28.00 shows a slightly positive potential of 12.000% compared to the current price of €25.00 for Fortec Elektronik AG.