FORTEC Elektronik AG Reports Stability in H1 2023/2024 Financial Results

FORTEC Elektronik AG has confirmed its preliminary financial results for the first half of the 2023/2024 financial year, showcasing a stable performance amidst challenging economic conditions. The company reported a group turnover of EUR 47.0 million, which is closely aligned with the previous year's performance, signaling a slight decrease from EUR 49.4 million. The group's EBIT remained robust at EUR 4.5 million, marginally falling from EUR 4.6 million in the prior year.

The financial statement emphasized contributions from different segments, with the data visualisation segment generating EUR 29.1 million and the power supplies segment contributing EUR 17.8 million to the total turnover. The company also highlighted a slight improvement in the EBIT margin to 9.6%, moving closer to its medium-term target range.

Despite the slight decrease in consolidated net profit from EUR 3.4 million to EUR 3.2 million, FORTEC's performance indicates a solid operational foundation. The order book normalized to EUR 68.0 million as of December 31, 2023, from a higher figure of EUR 83.0 million six months earlier, which the company attributes to improved delivery capacity.

CEO Sandra Maile expressed optimism regarding the year's overall target and introduced the strategic "Strong Together 2030" initiative aimed at fostering medium-term growth. The company remains positive about meeting its forecast for the financial year, assuming stable economic conditions and the effectiveness of its Q2 measures.