Endor AG increases 2022 revenues by 52.0% to EUR 123.6 million according to preliminary figures

Endor AG increases 2022 revenues by 52.0% to EUR 123.6 million according to preliminary figures

Landshut, 24 March 2023 – According to preliminary figures, Endor AG generated consolidated revenues of EUR 123.6 million, compared to EUR 81.3 million in the previous year, which corresponds to an increase of 52.0%. The developer of high-quality input devices such as high-end steering wheels and pedals in the simracing market was thus able to generate increased revenues for 2022 vs. 2021. With this, Endor was able to meet its forecast of consolidated revenues in the low three-digit million range. In terms of operating profit EBIT (preliminary figures), Endor will achieve the EBIT in the double-digit millions, as in the provided prognosis.

"Overall, we could see an intact market with increasing demand dynamics in 2022, which makes us very positive about the further development of Endor AG," reports Thomas Jackermeier, CEO of Endor AG. "Due to partly limited availabilities caused by supply bottlenecks within the chip industry, we lost some momentum in the second half of the year compared to the first six months of 2022, but are still very satisfied with our overall development in 2022."

The largest share of the full-year revenue increase was achieved in the first half of 2022, with an increase of 124.0% to EUR 79.3 million (previous year: EUR 35,4 million). This had been particularly impacted by rising sales in connection with the SONY launch of the "Gran Turismo 7" gaming software and significantly improved product availability. In the second half of 2022, the momentum was limited, in particular due to a lack of availability in connection with supply difficulties in the chip industry, and revenues declined slightly by 3.5%.

Endor AG will publish its audited annual report for 2022 on 30 May, 2023. The report for the first quarter of 2023 will be published on 28 April, 2023.

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 customers 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.

Contact:

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

Press and investor enquiries:

Vera Müller/Frank Ostermair, Better Orange IR & HV, Phone: +49(0)89-8896906 17,
E-Mail: ir@endor.ag