FORTEC Elektronik AG Achieves Forecast Target for 2023/2024 Despite Challenges

According to preliminary figures, FORTEC Elektronik AG reported solid financial results for the 2023/2024 financial year, despite a challenging environment. The group achieved a revenue of approximately EUR 95 million, down 11% from the previous year's record of EUR 105.9 million. However, EBIT fell significantly to EUR 7 million, below the previous year's EUR 10.7 million. The EBIT margin consequently decreased from 10.0% to 7.4%. The Group profit stood at EUR 5.4 million, down from EUR 7.6 million last year.

FORTEC met the lower end of its revised forecast range for revenue (EUR 95 million to EUR 100 million) and EBIT (EUR 7 million to EUR 9.5 million). The order book normalized to EUR 53.4 million from last year’s EUR 83.0 million. CEO Sandra Maile highlighted the company's resilience and long-term planning amid global difficulties and confirmed secured measures and investments for future growth.

The audited financial report will be available on 30 October 2024 on the company's website.