Endor AG presents strong revenue and earnings figures for the first half of 2022
- Group turnover increased by 124 percent to 79.3 million euros
- Group EBIT reaches 17.7 million euros after 2.6 million euros in the previous year
- EBIT margin of 22 percent after 7 percent in the previous year
- Forecast for the current business year confirmed
Landshut, 19 August 2022 – Endor AG today published its business figures for the first half of 2022. The developer of high-quality input devices such as high-end steering wheels and pedals in the simracing market achieved a turnover of 79.3 million euros. This corresponds to a doubling, or an increase of 124 percent compared to the previous year’s value of 35.4 million euros.
The biggest boost came from rising sales in connection with the SONY launch of the game software “Gran Turismo 7” and thanks to the significantly improved availability of goods. Endor AG benefited from the fact that it developed the first official direct drive wheel for the Gran Turismo™ series with its Fanatec brand, the Gran Turismo™ DD Pro.
Thomas Jackermeier, CEO of Endor AG: “We are very happy about the business development in the first half of the year. It is also particularly positive that the recent structural adjustment to the strong growth course has largely been completed, which stabilised our cost base.”
Due to the structural adjustment made at that time, the company still recorded a temporarily weaker result in the first half of 2021. In the first half of 2022, however, the result rose sharply. The group EBIT (operating result) reached 17.7 million euros after 2.6 million euros in the previous year. An increase of 567 per cent. The EBIT margin was 22 percent after 7 percent in the previous year.
Despite the strong development, the sales trend cannot be extrapolated for the year as Endor AG benefited in the first half of the year from a strong special boom due to Gran Turismo. The development in the remaining two quarters depends heavily on the stability of the supply chains – especially in China – and the availability of goods.
The Executive Board confirms the forecast for the full year 2022. Accordingly, it expects consolidated revenue to be in the low three-digit million range for the first time, with a simultaneous moderate increase in EBIT.
The complete 2022 half-year report can be viewed at the following website: https://endor.ag/investor-relations/
Endor AG will hold a conference call regarding the half-year figures on 19 August 2022 at 2pm CET. If you are interested, please contact the Investor Relations department.
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.
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