Dear Ladies and Gentlemen, Shareholders and Employees,
As a result of the outstanding efforts of the entire team at FORTEC, the challenging financial year came to a successful end on 30 June 2021 with a turnover of EUR 77.4 million and an EBIT of EUR 5.3 million. Once again, the FORTEC Group's 2020/2021 financial year was affected throughout by the impacts of the COVID-19 pandemic. Despite the tough framework conditions resulting from global supply bottlenecks, which arose for important primary products around the world, thanks to sound crisis management and supply chain management we achieved a sales result that was only 11.7% below the previous year's figure and respectable profit with an EBIT margin of 6.9%.
Operating within the challenging international environment, the FORTEC Group was able to impressively compensate for fluctuations in individual markets as a result of its regional distribution and a balanced mix of sectors and customers. This success, which came to the benefit of our customers and shareholders, was only possible due to the commitment of our dedicated employees, whose health is of the utmost priority in these times. We would therefore like to extend our thanks to all of our employees for their outstanding and passionate commitment in these unusual times. We would also like to thank all our business partners and in particular our customers, for providing the daily motivation for our entrepreneurial actions. FORTEC continues to operate in a challenging market environment due to the ongoing corona virus pandemic and the global shortage of components resulting from supply chain issues. Despite this tough backdrop, the Board of Directors anticipates a healthy 2021/2022 financial year due to the current high level of orders. With the recent foundation of aushang. online GmbH, FORTEC is expanding its product range to include software through a start-up company. This constitutes a further step by the Group towards greater added value and an expansion of its business model through annual licensing income from this software. FORTEC remains underpinned by sufficient equity capital and is therefore able to make expedient acquisitions in the short term if necessary. A Group turnover of EUR 100 million continues to be the clear target.
I would like to thank you also on behalf of my colleague on the Board of Directors for continuing to support us and stand alongside us. With your help, we can continue to develop the Group successfully in the long term. We are doing everything we can to make sure that FORTEC remains an attractive and future-oriented company, that deserves your trust.
Many thanks to you all and please stay healthy!
Sandra Maile
Chairwoman of the Board
Sandra Maile
Bernhard Staller
(Chief Executive Officer)
(Chief Operating Officer)
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FORTEC Elektronik AG published this content on 29 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 October 2021 06:47:02 UTC.
Fortec Elektronik AG is a Germany-based company which is engaged in the supply of individual components and systems in the areas of Display Technology, Embedded Systems and Power Supplies along with offering services from distribution, development, and production to complete solutions for the industry 4.0 age. Its products include single board computers, motherboard systems and panel computers and others. Display Technology & Embedded product area was transferred to the subsidiary Distec GmbH, and the Power Supplies product area to Emtron electronic GmbH.