Endor AG publishes key financial figures for the first quarter of 2023
Landshut, 05 May 2023 – Endor AG today published its report on the first quarter of 2023, according to which it achieved consolidated revenues of EUR 17.3 million, compared to EUR 46.5 million in the previous year. The revenues of the previous year were positively influenced in particular by the GT-DD products in connection with the SONY game launch “GT7”. Consolidated revenue generated in the first quarter of 2023 was in line with planning.
“The first quarter of 2023 was in line with our planning and we were able to largely overcome the problem of product availability due to a shortage of chips, which had dominated in 2022, by the end of the quarter,” said Thomas Jackermeier, CEO of Endor AG. “The simracing market continues to grow and virtual racing is becoming more popular. We are now returning to the original growth rate after last year’s positive outlier due to the launch of the GT-DD software.”
Endor AG achieved earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR -1.9 million in the reporting period (previous year: EUR 12.7 million). The operating result (EBIT) in the first quarter of 2023 was EUR -2.6 million, compared to EUR 12.1 million in the same quarter of the previous year. The EBIT margin (measured against consolidated sales) was -15% (previous year: 26%).
For the full year 2023, the Executive Board of Endor AG expects consolidated sales to be roughly at the previous year’s level and an EBIT margin in the lower double-digit range. Endor AG is also expected to develop similarly, with its absolute amounts averaging around 10% below those of the Group.
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 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 custom-ers 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 189 people. Within the group, 204 people work for Endor worldwide, including freelancers. In 2021, the company generated a consolidated turnover of 81.3 million euros.
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