FORTEC Elektronik AG: Nine-Month Turnover and Results Decline from Previous Year

FORTEC Elektronik AG's preliminary figures reveal a turnover of EUR 70 million for the first nine months of the 2023/2024 financial year, an 11% decline compared to the previous year's EUR 78.5 million. Operating EBIT also fell by 33%, totaling EUR 5.6 million.

The company's stable order book stood at EUR 64 million as of March 31, 2024, a decrease from EUR 92.4 million in the same period last year. Due to these financial developments, the Board of Directors has adjusted the forecast, now expecting a group turnover between EUR 95.0 and 100.0 million and an EBIT between EUR 7.0 and 9.5 million for the full financial year.

Sandra Maile, CEO of FORTEC Elektronik AG, cited weak economic conditions and geopolitical challenges as contributors to the decline. Despite measures implemented in the second quarter, the company could not fully realize its plans due to sluggish market dynamics.