FORTEC Elektronik Aktiengesellschaft publishes its half-year report – Acquisitions underpin revenue and earnings growth

FORTEC Elektronik Aktiengesellschaft publishes its half-year report – Acquisitions underpin revenue and earnings growth

• Group turnover for the first half of the 2025/2026 financial year stood at EUR 37.7 million, up around 6% on the previous year (previous year: EUR 35.6 million)

• Consolidated EBIT improved to EUR 0.4 million (previous year: EUR 0.2 million)

• Order book as at 31 December 2025 stood at EUR 44.9 million (30 June 2025: EUR 50.0 million)

• Need for restructuring at the subsidiaries FORTEC Integrated and FORTEC US

• Potential cash and non-cash cost risks identified during the financial year

• Earnings forecast for the 2025/2026 financial year revised

• Efficiency and restructuring programme aims to lay the foundations for a return to profitable growth

Germering, 26 March 2026. FORTEC Elektronik Aktiengesellschaft today published its half-year report for the 2025/2026 financial year (reporting period: 1 July 2025 – 31 December 2025) and reports an increase in turnover driven by acquisitions. Although the first six months of the current financial year were characterised by subdued performance in the data visualisation sector and pressure from suppliers in the power supply sector, consolidated EBIT also increased slightly.

At EUR 37.7 million (previous year: EUR 35.6 million), consolidated revenue was 6% higher than in the previous year, mainly due to the acquisition of Nottrot B.V. The Group’s EBIT for the first half of the year increased slightly to around EUR 0.4 million (previous year: EUR 0.2 million). Net profit for the half-year stood at EUR 0.2 million, in line with the previous year (previous year: EUR 0.2 million). The order book fell from EUR 50.0 million as at 30 June 2025 to EUR 44.9 million as at 31 December 2025, underscoring the difficult operating environment for the business. Nevertheless, valuable groundwork was laid during the reporting period for two contracts in the low millions range, which were finalised in January 2026.

“The first half of the year has shown that, whilst our core business is fundamentally profitable, we are falling significantly short of our potential overall. We want to and will change this, and will involve the future Executive Board in this process to enable the long-term stable and profitable development of FORTEC,” explains Henrik Christiansen, CFO of FORTEC Elektronik Aktiengesellschaft.

From an operational perspective, the first half of the year was dominated by the integration of the acquisitions of Nottrot B.V. and Advantec Electronics B.V. in the Benelux countries. In addition, as part of a review, the Executive Board identified an increased need for restructuring and potential financial risks within the Group and, as a result, initiated a restructuring and efficiency improvement programme. The cross-site programme is currently being developed in collaboration with external consultants and will be communicated and implemented in the coming months. It involves the adjustment of staffing levels, a review of the profitability of key sites, and the restructuring of the subsidiaries FORTEC Integrated and FORTEC US. This may also result in non-cash expenses arising from impairments and write-downs on assets due to the changed economic conditions. In this context, the Executive Board anticipates cash outflows for severance payments, as well as restructuring and consultancy costs, in the range of approximately EUR 1.0 million to EUR 1.5 million. The non-cash expenses are also expected to be in the low single-digit million range, but cannot currently be quantified with sufficient certainty.

For this reason, the Executive Board revised its full-year forecast on 24 March 2026. Accordingly, the Executive Board now expects consolidated revenue of between EUR 76 million and EUR 80 million (previously: EUR 80 million to EUR 85 million) and an operating EBIT (adjusted for one-off effects) that is either in the black or slightly positive. Unadjusted EBIT is expected to be negative due to the anticipated one-off effects (previously: EUR 0.9 million to EUR 2.1 million), but cannot currently be quantified precisely due to the uncertainties mentioned. This forecast is complicated by the current geopolitical and global economic uncertainties and is subject to corresponding risks. Although the current war in the Gulf region between the USA/Israel and Iran has only a limited direct impact on FORTEC, indirect effects are evident due to massive uncertainty in the economy and in relation to logistics. Furthermore, due to the expected return of higher inflation rates, the Group anticipates rising other operating expenses that are independent of revenue, such as those in the energy sector.

The governing bodies will continue to analyse the potential challenges and risks facing FORTEC and determine the necessary countermeasures. Due to changes within the management team and the announced appointment of a new Executive Board, this process may extend into the new financial year and should, where possible, involve the new composition of the Executive Board. Against the backdrop of further economic developments and the adjustment of the short-term forecast, the Executive Board will then also reassess the previous statement regarding the medium-term forecast for 2030 and the further revenue targets.

“FORTEC looks back on a challenging first half-year, and we must assume that, for the first time in the company’s history, we will report a loss. However, with the planned efficiency and restructuring programme and simultaneous provisioning for financial risks, we are positioning the company for a successful future and can reduce the existing uncertainties. The stated aim is to return FORTEC to an attractive level of profitability on a permanent basis,” comments Ulrich Ermel, COO of FORTEC Elektronik Aktiengesellschaft.

Key financial indicators

*EBIT (Earnings before Interest and Taxes):

Profit before financial items and income tax.

**EBITDA (Earnings before Interest, Taxes, Depreciation and Amortization):

Profit before financial items, income tax and depreciation and amortisation of intangible assets and property, plant and equipment.

***Operatives EBIT / operatives EBITDA:

EBIT or EBITDA adjusted for non-operating or non-period-related effects (one-off cost effects) to illustrate the underlying operational performance.

The half-yearly report is available on the company’s website at https://www.fortecag.de/en/Investor-Relations/Reports/.

Ulrich Ermel, Henrik Christiansen

Executive Board

FORTEC Elektronik Aktiengesellschaft | Augsburger Str. 2b | 82110 Germering | Germany
Phone: +49 89 894450 232

aktie@fortecag.de | www.fortecag.de

FORTEC Elektronik Aktiengesellschaft (ISIN: DE0005774103, WKN: 577410), headquartered in Germering, was founded in 1984 as an internationally active distributor of standard solutions in the fields of power supplies, embedded systems and displays. In addition, the FORTEC Group now offers customised developments and complete system solutions. Since April 2020, FORTEC Elektronik Aktiengesellschaft has been responsible, as a holding company, for the management of affiliated companies, the Group’s strategy and key aspects of administration. FORTEC Elektronik Aktiengesellschaft has subsidiaries in Germany, Switzerland, the UK, the USA and the Netherlands.

For the sake of readability, the generic masculine form has been used throughout the text. It goes without saying that all genders are addressed equally, without any intention of discrimination.