Endor AG: Adjustment of revenues and earnings guidance due to revenue shifts as a result of general difficulties in the global logistics chain
Landshut, August 09, 2021 10:00pm – Accordingly, the revenues and EBIT forecast for 2021 have to be adjusted. Previously, Endor assumed a slight increase in EBIT. Now the Management Board expects EBIT to decline. Revenues were expected to exceed the EUR 100 million mark in 2021. Due to the postponements, revenues will now be lower.
Demand for Endor products remains very strong and intact. In the first half of the year, sales have matched the previous year’s level, which is all the more impressive given that products in the high-volume mid-price segment in particular have been sold out since April. In particular, the wheel bases of the CSL and Clubsport series as well as numerous steering wheels are not available for several months and the high-volume and price-sensitive console market can currently only be served with the expensive Podium series. Sales in Q2 and Q3 will primarily be generated in the high-priced high-end segment. The problems in global logistics are affecting Endor on both the procurement and the sales side and are leading to restrictions in the ability to deliver, as a result of which corresponding sales are being postponed, in some cases probably into 2022. Pre-orders for the new CSL DD, which will be delivered from September 2021 and will impact sales from then on, also continue to develop very positively. In addition, a new PlayStation-compatible product in the entry-level range is planned for the end of the year, whose planned sales will also be partially postponed until Q1 2022.
Person making the notification:
Andras Semsey, CFO
About Endor AG www.endor.ag
Endor AG develops and markets high-quality input devices such as high-end steering wheels and pedals for racing simulations on game consoles and PCs as well as driving school simulators. As a “brain factory”, the company’s focus is on the creative sector. Endor carries out product development and prototype construction under its own direction and together with specialized technology partners, primarily in Germany (“German engineering”). The products are mainly produced in Asia.
Endor sells its products under the FANATEC brand via e-commerce primarily to end customers in Europe, USA, Canada, Australia and Japan. Endor also sells driving school simulators in cooperation with Vogel Verlag. Endor AG, headquartered in Landshut, was founded in 1997 and currently employs 165 people. Within the group, 206 people work for Endor worldwide, including freelancers. In 2020, the company generated a consolidated turnover of 90 million euros according to preliminary figures.
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