Endor AG with new record results in sales and earnings in the first quarter of 2022
Landshut, 17 May 2022 – Endor AG, international player in the e-sports and simracing market, was able to significantly increase turnover and earnings in the first quarter, as already announced in mid-March. The supplier of high-quality input devices such as high-end steering wheels for racing simulations on game consoles and PCs was able to more than double its quarterly sales at the group level and generated 46.5 million euros (previous year: 21.9 million euros).
Thomas Jackermeier, CEO of Endor AG: “We are very pleased with the new record turnover in the first quarter, which has once again confirmed the strong business development that we have already observed in the fourth quarter of 2021. We have also received a real boost from the launch of the Gran Turismo 7 gaming software and from the fact that availability of goods has once again improved significantly. However, I would also like to point out that turnover and profit cannot be extrapolated for the year. In the first quarter, we benefited from a strong boom due to Gran Turismo. The other quarters, however, depend heavily on the supply chains, especially in China, and the availability of goods.”
Experience has shown that the introduction of popular racing games provides significant additional momentum in the steering wheel business. The Gran Turismo series is popular with consumers worldwide and is considered a blockbuster in the scene. Endor AG and its Fanatec brand developed the Gran Turismo™ DD Pro, the first official direct drive wheel for the Gran Turismo™ series. Customer sales in the Group increased by over 200% in March compared to the same month last year due to the delivery of the GT DD RWP PRO product. In March alone, incoming orders of approx. 18.7 million euros were generated. The orders on hand at the end of the month amounted to 5.3 million euros.
On the earnings side, the Endor Group achieved an EBIT of 12.1 million euros in the first quarter (previous year: 3.9 million euros), resulting in an EBIT margin of 26% after 18% in the previous year. The bottom line is a profit of 8.2 million euros (previous year: 2.6 million euros).
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 a simultaneous increase in EBIT compared to the previous year. In 2021, Endor achieved consolidated sales of 81.4 million.
The quarterly statement is available at the following link: https://endor.ag/investor-relations/
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 simu-lators. 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 custom-ers in Europe, the USA, Canada, Australia and Japan. Endor also sells driving school simula-tors 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, includ-ing freelancers. In 2021, the company generated a consolidated turnover of 81.4 million euros.
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