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DGAP-News: Endor AG / Key word(s): Annual Results
Endor AG publishes audited figures for the financial year 2021
- Group sales of EUR 81.3 million (previous year: EUR 90.2 million) confirmed in 2021
- EBIT (consolidated earnings before financial result and taxes) of EUR 6.6 million in 2021 after EUR 20.7 million in the previous year
- Positive outlook for the current financial year
Landshut, 31 May 2022 - Endor AG today published its audited business figures for 2021. According to the figures, the developer of high-quality input devices such as high-end steering wheels and pedals in the simracing market achieved a turnover of 81.3 million euros, which is just under 10 % below the previous year's value. The company was still able to record an increase in demand for its products, but this could not be converted into a renewed increase in turnover due to delivery bottlenecks and disruptions in the worldwide logistics chains. This prevented a temporarily subdued sales development, especially in the second and third quarters of 2021, which did not run parallel to the very good demand.
In the fourth quarter of 2021, however, Endor AG was again able to achieve record sales of 30.0 million euros, thus leaving the sales slowdown at the middle of 2021 behind. The strong sales development continued in the first quarter of 2022 with a new sales record of 46.5 million euros.
EBIT (consolidated earnings before financial result and taxes) amounted to EUR 6.6 million in 2021 after EUR 20.7 million in the previous year. The lower result is due to the decline in sales, whereas the structures have already been adjusted to the originally planned strong growth and higher sales volumes, which increased the cost base. The EBIT margin in 2021 was 8% after 23% in the previous year.
Overall, the revenue and earnings forecast adjusted in August 2021, according to which the Executive Board expected a decline in EBIT and revenue below the 100-million-euro mark, was achieved.
Thomas Jackermeier, CEO of Endor AG: "We are pleased that we are now back on our strong growth path and can fully take off. To this end, we have aligned the entire structure of the company in 2021 in such a way that we will be able to handle sales of 250 to 300 million euros in the future without having to make major adjustments again."
Overall, the Executive Board expects consolidated sales for the 2022 financial year to be in the low three-digit million range for the first time, with EBIT increasing at the same time compared to the previous year.
The complete Annual Report 2021 can be viewed at the following website: https://endor.ag/investor-relations/
Endor AG will hold a conference call on 31 May 2022 at 2 p.m. CET to discuss the 2021 financial figures. If you are interested, please contact the Investor Relations department.
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 school simulators in cooperation with Vogel Verlag. Endor AG, based in Landshut, was founded in 1997 and currently employs 147 people. Within the group, 192 people work for Endor worldwide, including freelancers. In 2021, the company generated a consolidated turnover of 81.3 million euros.
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31.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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