DGAP-News: FORTEC Elektronik Aktiengesellschaft posts significant revenue and earnings growth in the nine-month period despite challenging market conditions
DGAP-News: FORTEC Elektronik Aktiengesellschaft
/ Key word(s): 9 Month figures/Quarter Results
FORTEC Elektronik AG posts significant revenue and earnings growth in the nine-month period despite challenging market conditions
- Group turnover of EUR 66.0 million around 14% above the previous year’s level (PY: EUR 57.7 million)
- Group operating EBIT increased significantly to EUR 6.3 million (PY: EUR 3.6 million)
- Order book as at 31 March 2022 increased further to EUR 85.3 million (PY: EUR 55.0 million)
FORTEC Elektronik AG is publishing an announcement regarding the third quarter of the 2021/2022 financial year today. This can be viewed by visiting the company’s website (https://www.fortecag.de/en/investor-relations/reports/).
In the first nine months of the current 2021/2022 financial year, the FORTEC Group achieved revenue growth of around 14% to EUR 66.0 million (PY: EUR 57.7 million). Earnings before interest and taxes (EBIT) increased significantly from EUR 3.6 million to EUR 6.3 million compared to the same period last year. The EBIT margin, based on sales revenues, rose from 6.2% in the previous year to 9.6% in the reporting period.
At EUR 4.6 million, the profit for the period in the first nine months of 2021/2022 was significantly higher than in the same period of the previous year (PY: EUR 2.6 million). Earnings per share therefore rose from EUR 0.79 to EUR 1.43.
The order book of EUR 85.3 million (previous year: EUR 55.0 million), which continued to rise in the reporting period, is indicative not only of high customer demand but also of supply chain problems, but is still a good starting point for the coming months.
Against the backdrop of the positive business performance in the nine-month period, the Management Board now affirms its forecast for the 2021/2022 financial year and continues to expect Group turnover to grow by up to 15% and Group EBIT to increase by up to 20%.
FORTEC’s business performance will continue to be affected by the impact of the global pandemic, the critical supply situation due to strained supply chains, and the war in Ukraine. Particularly in view of the war in Ukraine and its geopolitical and economic consequences, it is extremely difficult to make reliable predictions about future developments at present. The 2021/2022 forecast is therefore subject to the proviso that the underlying circumstances do not worsen further.
25.05.2022 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:||1360985|
|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.