Endor AG: Confirmation of forecast at the successfully held Annual General Meeting 2022

• All items on the agenda approved with a large majority
• Balance sheet profit remains in the company to finance further growth

Landshut, 22 July 2022 – The Board of Management and the Supervisory Board of Endor AG received great approval from the shareholders at today’s virtual general meeting. All items on the agenda were approved by a large majority.

In addition to the discharge of the Executive Board and Supervisory Board, the auditing and tax consulting firm Ebner Stolz GmbH & Co. KG were elected as auditors for the 2022 financial year. Furthermore, a resolution was passed on the appropriation of the balance sheet profit.
The Executive Board and Supervisory Board had proposed to transfer an amount of 2 million euros from the balance sheet profit of 2.1 million euros to other revenue reserves and to carry forward the remaining amount of 0.1 million euros to new account.

The Executive Board also confirmed the forecast for the current financial year. According to this, the board of directors expects consolidated sales to be in the low three-digit million range for the first time, with a simultaneous moderate increase in EBIT.

Thomas Jackermeier, CEO of Endor AG: “We are very satisfied with the development so far. We were able to more than double sales in the first quarter of 2022 and achieved 46.5 million euros. We received a strong boost from the launch of the Gran Turismo 7 gaming software and from the significantly improved availability of goods. However, I would also like to point out that turnover and profit cannot be extrapolated linearly to the full year. In the first quarter we benefited from a strong special economic situation due to Gran Turismo. The development of the other quarters, however, also depends on the supply chains – especially in China – and the
availability of goods.”

GSC will prepare and publish a research report in the aftermath of the Annual General Meeting

 

 

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, 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.

Contact:

Endor AG, Investor Relations, Phone: +49(0)871-9221 222, E-Mail: ir@endor.ag

Press and investor enquiries:
Anita Schneider/Frank Ostermair, Better Orange IR & HV, Phone: +49(0)89-8896906 17,
E-Mail: ir@endor.ag