DGAP-News: Endor AG publishes audited data for the financial year 2021 | News

DGAP-News: Endor AG / Keywords: Annual results

Endor AG publishes audited figures for the financial year 2021

May 31, 2022 / 11:11
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Endor AG publishes audited figures for the financial year 2021

– Group sales in 2021 of EUR 81.3 million confirmed (previous year: EUR 90.2 million)

EBIT (profit before interest and taxes) was EUR 6.6 million in 2021 after EUR 20.7 million in the previous year

– Positive outlook for the current financial year

Landshut, May 31, 2022 – Endor AG today published its certified business data for 2021. The developer of high-quality input devices such as high-end steering wheels and pedals has achieved sales of 81.3 million euros in the simulation racing market, almost 10% below the previous year’s figure . The company was able to continue to record increasing demand for its products, but this was not translated into a renewed increase in sales due to supply bottlenecks and disruptions in global logistics chains. This was prevented by the temporarily suppressed sales development, especially in the second and third quarter of 2021, which did not run in parallel with very good demand.

However, in the fourth quarter of 2021, Endor AG again achieved record sales of EUR 30.0 million and thus set a decline in sales in mid-2021. Strong sales growth continued in the first quarter of 2022 with a new sales record of EUR 46.5 million.

EBIT (profit before interest and taxes) in 2021 was EUR 6.6 million after EUR 20.7 million in the previous year. The lower result is due in particular to the decline in sales, while the structures have already been adjusted to the originally planned strong growth and higher sales volume, which increased the cost base. The EBIT margin was 8% in 2021, after 23% a year earlier.

In total, the sales and profit forecast, adjusted in August 2021, was realized, according to which the Management Board assumed a decline in EBIT and expected sales below EUR 100 million

Thomas Jackermeier, CEO of Endor AG: “We are delighted that we are now back on our strong growth path and can move on. In 2021, we adjusted the entire structure of the company in such a way that we could achieve future sales of 250 to 300 million euros without having to make major adjustments again.

Overall, the Management Board expects that consolidated sales in fiscal 2022 will be in the low three-digit million range for the first time, with an increase in EBIT compared to the previous year.

The full 2021 Annual Report can be viewed at: https://endor.ag/investor-relations/

Endor AG is organizing a teleconference on May 31, 2022 at 14:00 CET on 2021 Business Data. Investor Relations is available if interested.

About Endor AG www.endor.ag

Endor AG develops and markets high-quality input devices such as high-end steering wheels and pedals for simulating racing on game consoles and PCs, as well as driving simulators. As Brainfactory, he focuses on the creative sector. Endor independently and together with specialized technology partners, mainly in Germany (Germaneering), conducts product development and construction of prototypes. The products are mainly manufactured in Asia.

Endor sells its products under the FANATEC brand via e-commerce primarily to end customers in Europe, the USA, Canada, Australia and Japan. Endor also sells driving simulators in partnership with Vogel Verlag. Endor AG, headquartered in Landshut, was founded in 1997 and currently employs 147 people. 192 people work in the group around the world, including freelancers. In 2021, the company achieved group sales of EUR 81.3 million.

Contact:

Endor AG, Investor Relations, phone: +49 (0) 871-9221 222, e-mail: ir@endor.ag

Press and investor inquiries:
Anita Schneider / Frank Ostermair, Better Orange IR & AGM, tel .: +49 (0) 89-8896906 17,
E-mail: ir@endor.ag

May 31, 2022 Publication of Corporate News / Financial News broadcast by DGAP – EQS Group AG website.
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