Endor AG Adjusts 2024 Revenue Forecast and Withdraws Earnings Forecast

Landshut, May 29, 2024 – Endor AG reported revenues of EUR 30.5 million for the first quarter of 2024, compared to EUR 17.3 million in the previous year. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) reached EUR 1.2 million, up from EUR -1.9 million. The increase was influenced by revenue postponements from 2023, totaling around EUR 5 million due to delivery delays and product launches.

The Management Board noted significant uncertainties and adjusted its revenue forecast for the full year 2024 to EUR 105 million to EUR 115 million, down from the previously estimated EUR 115 million to EUR 125 million. This revision is attributed to a noticeable reluctance to buy among customers since the second quarter, expected to continue into the third quarter.

Additionally, the company has withdrawn its EBITDA margin forecast of 8% to 10%. The decision is due to expected one-off effects stemming from the planned StaRUG procedure, including debt waivers by banks and associated costs. As a result, a reliable forecast for the EBITDA margin is not currently possible.