FORTEC Elektronik Aktiengesellschaft continues its success story with the provisional figures for the 2022/2023 financial year

FORTEC Elektronik AG continues its success story with

the provisional figures for the 2022/2023 financial year

According to preliminary figures, FORTEC Elektronik AG delivered another record year in a row in the past financial year 2022/2023 despite continued geopolitical uncertainties, market volatility and distinct inflationary effects.

In the 2022/2023 financial year (01/07/2022 - 30/06/2023), the FORTEC Group increased its revenue by around 19 % compared to the previous year to EUR 106.0 million (PY: EUR 89.0 million). Earnings before interest and taxes (EBIT) is one of the most important indicators of success and increased disproportionally by 23 % from EUR 8.5 million in the previous year to EUR 10.6 million. The EBIT margin based on this increased accordingly from 9.7 % to 10,0 %. According to preliminary calculations, the Group profit of EUR 7.3 million was also significantly higher than the previous year's value of EUR 6.4 million.

FORTEC is therefore in the optimistic range of the forecast for the 2022/2023 financial year that we increased in May 2023. This expected a Group revenue of EUR 97.0 million to EUR 110.0 million and a Group EBIT of EUR 10.0 million to EUR 11.0 million.

Sandra Maile, CEO of FORTEC Elektronik AG, comments: “We once again achieved our forecast for the last financial year exactly. This reflects our precise planning and our ability to implement our aims in a dynamic and unsure environment.”

The planned takeover is not currently being pursued following extensive consideration and discussions with the seller side. Our top priority is acting responsibly in the interests of our shareholders, employees and partners. The Management Board is convinced that this decision gives FORTEC the opportunity to react flexibly to changing market conditions and to better pursue our strategic aims. The experience and knowledge gained during the acquisition process are valuable for taking even better founded investment decisions and to contribute to the company’s growth strategy.

For this reason, FORTEC has increased its focus on the HEKA project and started to found a subsidiary in Cairo, Egypt, DISTEC GmbH. With this new development location, FORTEC will use the growing technology infrastructure and the talented labour pool in order to expand development capacities and to ensure future growth of the operational locations.

The audited consolidated annual financial report will be available at https://www.fortecag.de/en/investor-relations/reports/ from 26 October 2023.

Sandra Maile

Chair of the Management Board

FORTEC Elektronik AG | Augsburger Str. 2b | 82110 Germering | Germany
Phone: +49 89 894450 232

aktie@fortecag.de | www.fortecag.de

FORTEC Elektronik AG (ISIN Share: DE0005774103, WKN: 577410), based in Germering, Germany, was founded in 1984 as an international distributor of standard solutions in the field of power supplies, embedded systems and displays. In addition, the FORTEC Group today offers customer-specific developments and complete system developments. Since April 2020, FORTEC Elektronik AG has been the holding company responsible for management of the affiliated companies, group strategy and essential parts of the administration. FORTEC Elektronik AG has subsidiaries in Germany, Switzerland, the UK and the USA.

For better legibility, the generic masculine form is used in the text. Of course, all genders are referred to equally without any intent to discriminate.