Endor AG publishes half-year report 2023

  • Consolidated revenues of EUR 41.3 million in the first six months, in line with budget despite decline
  • Revenue turnaround in second quarter, up 39% compared to previous quarter
  • Forecast confirmed: Revenue at previous year’s level (Range EUR 105 to 125 million); EBITDA margin in lower double-digit range

Landshut, 31 August 2023 – Endor AG today published its half-year report 2023. According to the report, the company’s consolidated revenues in the first six months of 2023 amounted to EUR 41.3 million, compared to EUR 79.3 million in the previous year (-48%). Both the first and second quarters were below the previous year’s figures. However, the company suc-ceeded in implementing a significant turnaround in revenues in the second quarter, increasing consolidated revenues by 39% compared with the previous quarter to EUR 24.0 million (Q1/2023: EUR 17.3 million; Q2/2022: EUR 32.8 million). The previous year’s very good half-year revenue was positively impacted by the strong increase in sales of GT-DD products in connection with SONY’s “GT7” game launch.

“Our half-year revenues are at the level planned for the period. It is particularly pleasing that momentum has picked up significantly in the second quarter after we were still affected in the first quarter by the problems with the availability of goods due to the worldwide chip supply difficulties,” reports Thomas Jackermeier, CEO of Endor AG. “With our product launches planned for the rest of the year, as well as the successful launch of CSL DD in the main-stream market in June, we continue to see very good prospects for the full year 2023 and maintain our forecast.”

Earnings before interest, taxes, depreciation and amortization (EBITDA) generated in the first six months of 2023 amounted to -3.1 million euros, compared to 19.0 million euros in the first half of the previous year. The operating result (EBIT) was -4.4 million in the first half of 2023, compared with 17.7 million in the first half of the previous year. “The further expansion of our Group structures, the establishment and restructuring of our team, and the investment pro-gram launched in the IT infrastructure is currently still weighing heavily on our earnings, given the year-on-year decline in revenues. We had to invest in the essential structures and see the current timing as sensible and good for this. In the long term, we are sticking to our target of an EBIT margin of up to 25%,” Thomas Jackermeier continued.

For the full year 2023, the Executive Board of Endor AG expects consolidated revenues to remain roughly at the previous year’s level (Range EUR 105 to 125 million) and an EBITDA margin in the lower double-digit range.

Note: The quarterly statement is available via the following link: https://endor.ag/investor-relations/?lang=en. Endor AG will hold an investor call on the current figures on 5 September at 15:00 (CEST). Interested investors can obtain their dial-in details via the following link: https://montegaconnect.de/event/m7uzspk1nzzatw6daccdthmn8eixjy31.


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 gaming consoles and PCs, as well as driving school simulators. Endor thinks of itself as a “brain factory” and is focused on the creative side of the business. Product development and prototype construction is conducted by Endor on its own and in conjunction with specialized technology partners, primarily in Germany (“Germaneering”), while its products are manufactured primarily in Asia.

Endor sells its products primarily to end customers in Europe, the US, Canada, Australia and Japan under the FANATEC brand, largely via e-commerce. 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.


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

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