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ENDOR AG Endor AG: Adjustment of revenues and earnings guidance due to revenue shifts as a result of general difficulties in the global logistics chain

Directive transparence : information réglementée

09/08/2021 22:00

DGAP-Ad-hoc: Endor AG / Key word(s): Change in Forecast
Endor AG: Adjustment of revenues and earnings guidance due to revenue shifts as a result of general difficulties in the global logistics chain

09-Aug-2021 / 22:00 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Endor AG: Adjustment of revenues and earnings guidance due to revenue shifts as a result of general difficulties in the global logistics chain

Landshut, August 09, 2021 - Despite strong demand remaining intact, but due to the now longer lasting general disruptions in the global logistics and goods flows, some of Endor AG's sales are expected to be postponed into next year. Accordingly, the revenues and EBIT forecast for 2021 have to be adjusted. Previously, Endor assumed a slight increase in EBIT. Now the Management Board expects EBIT to decline. Revenues were expected to exceed the EUR 100 million mark in 2021. Due to the postponements, revenues will now be lower.

Demand for Endor products remains very strong and intact. In the first half of the year, sales have matched the previous year's level, which is all the more impressive given that products in the high-volume mid-price segment in particular have been sold out since April. In particular, the wheel bases of the CSL and Clubsport series as well as numerous steering wheels are not available for several months and the high-volume and price-sensitive console market can currently only be served with the expensive Podium series. Sales in Q2 and Q3 will primarily be generated in the high-priced high-end segment. The problems in global logistics are affecting Endor on both the procurement and the sales side and are leading to restrictions in the ability to deliver, as a result of which corresponding sales are being postponed, in some cases probably into 2022. Pre-orders for the new CSL DD, which will be delivered from September 2021 and will impact sales from then on, also continue to develop very positively. In addition, a new PlayStation-compatible product in the entry-level range is planned for the end of the year, whose planned sales will also be partially postponed until Q1 2022.

Person making the notification:
Andras Semsey, CFO


Information and Explanation of the Issuer to this News:

About Endor AG www.endor.ag

Endor AG develops and markets high-quality input devices such as high-end steering wheels and pedals for racing simulations on game consoles and PCs as well as driving school simulators. As a 'brain factory', the company's focus is on the creative sector. Endor carries out product development and prototype construction under its own direction and together with specialized technology partners, primarily in Germany ('German engineering'). The products are mainly produced in Asia.

Endor sells its products under the FANATEC brand via e-commerce primarily to end customers in Europe, USA, Canada, Australia and Japan. Endor also sells driving school simulators in cooperation with Vogel Verlag. Endor AG, headquartered in Landshut, was founded in 1997 and currently employs 165 people. Within the group, 206 people work for Endor worldwide, including freelancers. In 2020, the company generated a consolidated turnover of 90 million euros according to preliminary figures.

Contact:

Endor AG, Investor Relations, Phone: +49(0)871-9221 222, E-Mail: ir@endor.ag

Press and investor enquiries:
Anita Schneider/Frank Ostermair, Better Orange IR & HV, Phone: +49(0)89-8896906 17,
E-Mail: ir@endor.ag


09-Aug-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: Endor AG
E.ON-Allee 3
84036 Landshut
Germany
Phone: +49-(0)871-9221-122
Fax: +49-(0)871-9221-221
E-mail: ir@endor.ag
Internet: www.endor.ag
ISIN: DE0005491666
WKN: 549166
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart
EQS News ID: 1225157

 
End of Announcement DGAP News Service

1225157  09-Aug-2021 CET/CEST

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