DGAP-News: FORTEC Elektronik Aktiengesellschaft: financial year 2021/2022 more profitable than forecasted
DGAP-News: FORTEC Elektronik Aktiengesellschaft
/ Key word(s): Forecast/Change in Forecast
FORTEC Elektronik AG: 2021/2022 financial year more profitable than forecasted
FORTEC Elektronik AG substantiated its revenue forecast for the current financial year 2021/2022 (30 June) today, raising its operating earnings (EBIT) forecast once again.
The positive business development of FORTEC Elektronik AG validates the group’s robust business model. The 2021/2022 figures published to date also show that FORTEC has successfully overcome the operational supply chain challenges it has faced, has been able to adjust the prices of its products to the new market conditions to the greatest extent possible, and that its strategy to create more value and design-in projects is taking hold. This will result in a significant increase in profitability in the current financial year 2021/2022 compared to the previous year. For this reason, the Executive Board expects the earnings forecast made thus far for the current 2021/2022 financial year to be exceeded.
The Executive Board has firmed up the 2021/2022 forecast for Group turnover with a figure of between EUR 85 and 90 million (previously: growth of up to 15% compared to the previous year’s figure of EUR 77.4 million) and has now raised the operating earnings (EBIT) forecast to between EUR 8.0 and 8.7 million (previously: an increase of up to 20% compared to the previous year’s figure of EUR 5.3 million).
Sandra Maile made the following comments: “The successful trend in turnover and especially EBIT in the 2021/2022 financial year shows that we are on the right path with our “Grow Together 2025” strategy. Higher product complexity and a broad mix of end products, good price penetration, but also the expansion of our warehouse capacity in 2019 are now paying off.”
29.06.2022 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:||1386051|
|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.