DGAP-News: Endor AG
/ Key word(s): Dividend/Annual Report
Endor AG publishes 2020 annual report and proposes dividend distribution for the first time
Landshut, 31 May 2021 - Endor AG today presented its final figures for the 2020 financial year. Financially, Endor AG did not feel any negative effects in 2020, a year marked by the pandemic. Both production and supply chains continued to run according to plan. In addition, the curfews boosted the consumers' enthusiasm to play and also their willingness to invest in steering wheels and other equipment encouraged the company.
Thanks to these effects, Endor AG recorded a significant increase in revenues and earnings in the 2020 financial year in addition to its already strong growth course. At the same time, the company continued to invest heavily in future growth in 2020.
Thus, the revenues of the Endor Group more than doubled in 2020 from EUR 38.8 million in the previous year to EUR 90.2 million. The Endor Group's net profit tripled from EUR 4.2 million in the previous year to EUR 12.4 million in the 2020 financial year.
The unexpectedly strong increase in demand in the entire first half of 2020 led to supply bottlenecks in all important markets in the months from April to June. This slowed down sales growth somewhat and led to an unusually high order backlog at the end of the first half of the year. As a result, the company worked to increase product availability by significantly increasing production. By the end of the third quarter, this enabled most supply bottlenecks to be resolved and pre-orders to be delivered in a revenue-generating manner.
This slowed down sales growth somewhat and led to an unusually high order backlog at the end of the first half of the year. As a result, the company worked to increase product availability by significantly increasing production. By the end of the third quarter, this enabled most supply bottlenecks to be resolved and pre-orders to be delivered in a revenue-generating manner.
The strong growth in the 2020 fiscal year is not solely attributable to the pandemic, however. Even before that, the company was able to observe a strong increase in demand in the area of simracing - i.e. virtual racing. On the one hand, Endor benefits from the fact that simracing is becoming increasingly popular and is a growth market per se, and at the same time from the fact that Endor is excellently positioned in the international market with the Fanatec brand. This development has been confirmed again in 2020.
Thomas Jackermeier, CEO of Endor AG: "We have really worked hard and intensively together in the 2020 financial year to adapt our structures to the strong growth. We would also like to thank our existing and new shareholders for their trust. We would like them to share in our success and will therefore propose the distribution of a dividend of EUR 4.00 per share for the first time at this year's Annual General Meeting."
The Management Board is also optimistic for the current financial year 2021 and expects Group sales to be in the low three-digit million range for the first time, with a slight increase in profits at the same time.
The annual report is available at the following link: https://endor.ag/investor-relations/
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 consolidated revenues of 90 million euros.
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31.05.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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