The initial restrictions have indeed supported consumers’ enthusiasm for gaming and also their willingness to invest in steering wheels and other equipment. However, our growth is definitely not solely attributable to this. Simracing got its biggest boost in popularity from the virtual competitions of the major racing series F1, NASCAR, WRC, etc. with real racers replacing the real races. This has allowed us to reach an audience of millions via TV and this has further fueled the already soaring popularity of simracing.

Nach intensiver Überprüfung der bisherigen Umsatz- und Ergebnisplanung hat der Vorstand Mitte des Jahres auf die negativen Effekte aus den Problemen der weltweiten Logistikbranche reagiert und revidierte die ausgegebene Umsatz- und EBIT-Prognose. Bislang ging das Unternehmen von einem leicht steigenden EBIT aus. Jetzt erwartet der Vorstand einen Rückgang des EBIT. Grund für die Prognoseänderung sind besagte weltweite Logistikprobleme, wodurch es zu einer verzögerten Warenauslieferung kommt, dadurch können Umsätze erst verzögert generiert und verbucht werden und dies wiederum führt zu einem geringeren Rohertrag bzw. Ergebnis. Umsatzseitig war Endor bislang davon ausgegangen, dass 2021 auf Konzernebene erstmal die Marke von 100 Mio. Euro übersprungen werden kann. Die aktualisierte Prognose setzt das Ziel, den sehr guten Umsatz des Vorjahres zu erreichen oder sogar leicht zu übertreffen.

If we offer lower-priced products, this will also have a slightly declining effect on the gross margin. On the other hand, however, it must be considered that we also have lower costs in the lower price range, so we do not expect a significant effect here. We would also like to emphasize that we are still very strong in the high-end segment and are continuously expanding our market share here as well.

On the one hand, we plan to cooperate with research houses. We also want to increase liquidity through an additional XETRA listing. In addition, we are currently examining how useful a secondary listing in the USA would be. In the medium to long term, uplisting to the Regulated Market is also an option. We are already taking the necessary precautions here, such as preparing reports in accordance with IFRS. However, this will still take some time.

Although we cannot make any concrete promises at this stage, our aim is to pay a dividend in the long term and thus allow our shareholders to participate in the success of the company in this way as well.

One of our great strengths is that with our three product lines (CSL, Clubsport, Podium) we offer the entire ecosystem and the products are fully compatible with each other. Our high repurchase rate is a clear sign of our very good quality and customer loyalty. We now generate 60 percent of our sales with existing customers. . Our know-how is also very special and not easily transferable. We have already gathered the best in the industry around us. Our sponsoring contracts are also concluded for several years, which ensure us a correspondingly successful marketing presence and increased awareness. Another important USP is our own e-commerce store, through which we sell our products and do not have to pass on any additional margin to retailers.

From a liquidity point of view, we are already in a very comfortable situation, this is also since customers pay for our products in advance. In addition, we have a credit line of 30 million euros and are currently negotiating the conclusion of a further credit line of 2 million euros.

We have deliberately separated the Fanatec brand name from Endor AG, i.e. we are generally open to incorporating the know-how we have acquired to date in other segments, for example the area of interactive home training would be very exciting, even if we do not have any concrete plans for this at the moment.

The logistics problems are global in nature and affect our company. In Q4 2021, we see that the situation is gradually improving. However, we do not expect a full normalization until 2022. It is important to bear in mind that this is a postponement, so the sales will not disappear but will probably be realized in 2022.

Correct, we have, for example, renewed the entire IT infrastructure, acquired extensive personnel, and made major investments in R&D and marketing. We are aligning the company in such a way that we will be able to handle sales of 200 to 250 million euros in the future without any further adjustments.

Yes, we want to be more prepared in this area in the future and are currently examining production sites in Eastern Europe, such as Romania and Hungary, in addition to production in China. On the one hand, this has the advantage that we are closer to production and, on the other hand, we are increasingly using robots and machines for production, an area in which Eastern Europe can now keep up well with China. We are also spreading our risk in this way and logistically this would also have advantages. In addition, we want to change the current shipping from our warehouse in China and start more frequent and therefore smaller shipments to react more flexibly in the future.

We do not expect an increase. Production in China already costs as much as in Eastern Europe. Perhaps the overall costs could even be reduced by such a step if we could also implement an increase in quality as a result.

With the CSL-DD line, we offer innovative direct drive technology at a price that is more than half that of our competitors. This is a great competitive advantage and can therefore be seen as a game changer. One reason why we can make this offer is that we sell our products exclusively through our own website, so margin remains considerably above average. We can therefore use the additional capital for research & development of new products or to offer product innovations at an even lower price.

For example, the cooperation with Polyphony makes us very optimistic and, in this context, the new product launches we are planning for the launch of the racing video game GT7 such as the first official Direct Drive Wheel. The past has shown that the launch 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.