FORTEC Elektronik AG

Latest Results (20.08.2024):

Revenue Decline

FORTEC Elektronik AG reported a revenue decline of approximately 11% in the third quarter of the fiscal year 2023/2024 compared to the same period in the previous year. The revenue for this quarter was 70.0 million EUR, down from 78.5 million EUR in the third quarter of the previous fiscal year.

EBIT Decrease

The company's EBIT (Earnings Before Interest and Taxes) for the third quarter of the fiscal year 2023/2024 was significantly lower than the previous year. EBIT stood at 5.7 million EUR, a notable decrease from 8.5 million EUR in the same quarter of the previous fiscal year, primarily due to increased operational costs.

Net Profit Drop

FORTEC Elektronik AG's net profit for the third quarter of the fiscal year 2023/2024 was 3.9 million EUR, down from 6.1 million EUR in the same period of the previous year. This represents a substantial decline in profitability, reflecting the challenging economic conditions and increased costs.

Equity and Liquidity

As of March 31, 2024, FORTEC Elektronik AG's equity was 56.2 million EUR, up from 55.0 million EUR as of June 30, 2023. The company's liquid assets also increased to 18.8 million EUR from 13.2 million EUR over the same period, indicating a stronger liquidity position.

Adjusted Outlook

FORTEC Elektronik AG has adjusted its financial outlook for the fiscal year 2023/2024. The company now expects revenue to be between 95.0 million EUR and 100.0 million EUR, down from the previous forecast of 106.0 million EUR to 116.0 million EUR. The expected EBIT has also been revised to a range of 7.0 million EUR to 9.5 million EUR, from the earlier estimate of 9.5 million EUR to 11.0 million EUR.