Endor AG Releases Financial Figures for the First Quarter of 2024

Landshut, May 31, 2024 – Endor AG announced its financial results for the first quarter of 2024. The company reported revenues of EUR 30.5 million, a 72.3% increase compared to EUR 17.3 million in the same period last year. However, around EUR 5.0 million of this revenue stems from sales deferred from the fourth quarter of 2023 due to supply chain issues.

EBITDA for the quarter was EUR 1.2 million, up from EUR -1.9 million the previous year, yielding an EBITDA margin of 4%. The operating result (EBIT) improved from EUR -2.6 million to EUR 0.4 million, resulting in an EBIT margin of 1%.

CEO Andres Ruff stated, "Endor is on a good restructuring path with a balanced product mix." Despite stable demand for new products, revenue growth did not meet expectations. The company is undergoing restructuring to avoid insolvency, with CORSAIR® set to provide financial stability.

Endor AG revised its 2024 revenue forecast to EUR 105 million to EUR 115 million, down from EUR 115 million to EUR 125 million, due to ongoing customer reluctance. The EBITDA margin forecast was also withdrawn.