FORTEC Elektronik (FEV) Q1 24/25 earnings summary

Executive summary

• Q1 2024/2025 turnover declined 34% year-over-year to €17.5M, similar to COVID-19 pandemic levels.

• EBIT was slightly negative at €-0.2M, down from €3.5M in the prior year, mainly due to a higher cost base and lower turnover.

• Both data visualisation and power supplies segments were impacted, though power supplies performed better due to defense sector orders.

• Management remains confident in long-term growth and confirms the annual forecast despite short-term challenges.

Financial highlights

• Sales revenue fell to €17.5M from €26.6M year-over-year; EBIT margin dropped to -1.4% from 13.3%.

• Net profit for the period was €-0.3M, compared to €2.4M in Q1 last year; EPS decreased from €0.74 to €-0.09.

• Order book increased to €57.2M at September 2024, up from €53.4M at June 2024.

• Cost of materials and personnel expenses decreased, but cost ratios rose due to lower turnover.

• Other operating expenses increased to €2.3M, mainly from higher advertising, travel, and inflation-related costs.

Outlook and guidance

• Management confirms full-year guidance: turnover €95M–€110M, EBIT €6M–€8M.

• Forecast subject to significant uncertainties from geopolitical factors that could impact results.