Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to €13.95, the stock trades at a forward P/E ratio of 66x. Average forward P/E is 24x in the Electronic industry in Germany. Total loss to shareholders of 44% over the past three years. Duyuru • May 31
FORTEC Elektronik AG Confirms Earnings Guidance for Fiscal Year 2025/2026 FORTEC Elektronik AG confirmed earnings guidance for fiscal year 2025/2026. For the full fiscal year 2025/2026, the Management Board continues to expect operating EBIT (adjusted for one-time effects) to be at a break-even or slightly positive level. Reported Earnings • May 28
Third quarter 2026 earnings released: EPS: €0.008 (vs €0.23 in 3Q 2025) Third quarter 2026 results: EPS: €0.008 (down from €0.23 in 3Q 2025). Revenue: €22.2m (flat on 3Q 2025). Net income: €27.0k (down 96% from 3Q 2025). Profit margin: 0.1% (down from 3.3% in 3Q 2025). Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 41 percentage points per year, which is a significant difference in performance. Price Target Changed • May 20
Price target decreased by 12% to €15.00 Down from €17.00, the current price target is provided by 1 analyst. New target price is 42% above last closing price of €10.60. Stock is down 32% over the past year. The company is forecast to post a net loss per share of €0.60 compared to earnings per share of €0.41 last year. Duyuru • Dec 19
FORTEC Elektronik AG, Annual General Meeting, Feb 11, 2026 FORTEC Elektronik AG, Annual General Meeting, Feb 11, 2026, at 10:00 W. Europe Standard Time. Duyuru • Oct 23
FORTEC Elektronik AG (XTRA:FEV) acquired remaining 63.30% stake in Advantec Electronics B.V. FORTEC Elektronik AG (XTRA:FEV) acquired remaining 63.30% stake in Advantec Electronics B.V. on October 21, 2025. With this step, FORTEC is expanding its presence in the Benelux market and merging Advantec’s activities with those of the recently acquired Nottrot B.V. Prior to the transaction, FORTEC already held a stake of around 36.7% in Advantec Electronics B.V. The Supervisory Board has initiated the process of appointing a new Management Board. Until a new Management Board is appointed – no later than 30 June 2026 – Mr. Ulrich Ermel will continue to manage the company’s affairs and, together with the Supervisory Board, ensure that the company remains capable of acting during the transition phase.
FORTEC Elektronik AG (XTRA:FEV) completed the acquisition of remaining 63.30% stake in Advantec Electronics B.V. on October 21, 2025. Duyuru • Jul 11
Fortec Elektronik Ag Revises Group Earnings Guidance for Year 2024-2025 FORTEC Elektronik AG revised group earnings guidance for year 2024-2025. For the year company now expects Group EBIT of between EUR 1.0 million and EUR 2.0 million (previously: EUR 4.0 million to EUR 6.0 million). Duyuru • Dec 18
FORTEC Elektronik AG, Annual General Meeting, Feb 13, 2025 FORTEC Elektronik AG, Annual General Meeting, Feb 13, 2025, at 10:00 W. Europe Standard Time. Reported Earnings • Nov 01
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: €1.63 (down from €2.32 in FY 2023). Revenue: €95.7m (down 9.6% from FY 2023). Net income: €5.30m (down 30% from FY 2023). Profit margin: 5.5% (down from 7.1% in FY 2023). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.0%. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. New Risk • Sep 03
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.2% per year for the foreseeable future. Minor Risk Market cap is less than US$100m (€60.5m market cap, or US$66.7m). Price Target Changed • Aug 21
Price target decreased by 15% to €28.00 Down from €33.00, the current price target is provided by 1 analyst. New target price is 55% above last closing price of €18.10. Stock is down 33% over the past year. The company is forecast to post earnings per share of €1.53 for next year compared to €2.32 last year. Buy Or Sell Opportunity • Jul 06
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to €20.20. The fair value is estimated to be €25.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 19%. Revenue is forecast to grow by 7.4% in 2 years. Earnings are forecast to grow by 23% in the next 2 years. Buy Or Sell Opportunity • Jun 14
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.0% to €20.20. The fair value is estimated to be €25.75, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 19%. Revenue is forecast to grow by 7.4% in 2 years. Earnings are forecast to grow by 23% in the next 2 years. Reported Earnings • May 30
Third quarter 2024 earnings released: EPS: €0.22 (vs €0.83 in 3Q 2023) Third quarter 2024 results: EPS: €0.22 (down from €0.83 in 3Q 2023). Revenue: €23.7m (down 19% from 3Q 2023). Net income: €708.0k (down 74% from 3Q 2023). Profit margin: 3.0% (down from 9.3% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Duyuru • May 24
FORTEC Elektronik AG to Report Q3, 2024 Results on May 29, 2024 FORTEC Elektronik AG announced that they will report Q3, 2024 results on May 29, 2024 New Risk • May 23
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.3% per year for the foreseeable future. Minor Risk Market cap is less than US$100m (€66.3m market cap, or US$71.9m). Reported Earnings • Mar 28
Second quarter 2024 earnings released: EPS: €0.25 (vs €0.45 in 2Q 2023) Second quarter 2024 results: EPS: €0.25 (down from €0.45 in 2Q 2023). Revenue: €20.7m (down 15% from 2Q 2023). Net income: €812.0k (down 44% from 2Q 2023). Profit margin: 3.9% (down from 5.9% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Duyuru • Mar 23
FORTEC Elektronik AG to Report Q2, 2024 Results on Mar 27, 2024 FORTEC Elektronik AG announced that they will report Q2, 2024 results on Mar 27, 2024 Upcoming Dividend • Feb 01
Upcoming dividend of €0.85 per share at 3.3% yield Eligible shareholders must have bought the stock before 08 February 2024. Payment date: 12 February 2024. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of German dividend payers (5.0%). Higher than average of industry peers (1.4%). Reported Earnings • Nov 30
First quarter 2024 earnings released: EPS: €0.74 (vs €0.60 in 1Q 2023) First quarter 2024 results: EPS: €0.74 (up from €0.60 in 1Q 2023). Revenue: €27.1m (up 8.6% from 1Q 2023). Net income: €2.40m (up 24% from 1Q 2023). Profit margin: 8.9% (up from 7.8% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. New Risk • Nov 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.6% average weekly change). Market cap is less than US$100m (€81.3m market cap, or US$88.6m). Duyuru • Oct 28
FORTEC Elektronik AG, Annual General Meeting, Feb 07, 2024 FORTEC Elektronik AG, Annual General Meeting, Feb 07, 2024. Agenda: To consider distributing a dividend of EUR 0.85 per share from the retained earnings of the company as at 30 June 2023. Reported Earnings • Oct 28
Full year 2023 earnings: Revenues and EPS in line with analyst expectations Full year 2023 results: EPS: €2.32 (up from €1.92 in FY 2022). Revenue: €108.4m (up 22% from FY 2022). Net income: €7.55m (up 21% from FY 2022). Profit margin: 7.0% (in line with FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 25
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €20.80, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Electronic industry in Germany. Total returns to shareholders of 44% over the past three years. Duyuru • Oct 24
FORTEC Elektronik AG to Report Fiscal Year 2023 Results on Oct 26, 2023 FORTEC Elektronik AG announced that they will report fiscal year 2023 results on Oct 26, 2023 Buying Opportunity • Aug 07
Now 21% undervalued Over the last 90 days, the stock is up 8.2%. The fair value is estimated to be €35.17, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.8% over the last 3 years. Earnings per share has grown by 19%. Revenue is forecast to grow by 15% in 2 years. Earnings is forecast to grow by 14% in the next 2 years. Buying Opportunity • Jul 13
Now 20% undervalued Over the last 90 days, the stock is up 23%. The fair value is estimated to be €35.15, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.8% over the last 3 years. Earnings per share has grown by 19%. Revenue is forecast to grow by 15% in 2 years. Earnings is forecast to grow by 14% in the next 2 years. Reported Earnings • May 28
Third quarter 2023 earnings released: EPS: €0.83 (vs €0.45 in 3Q 2022) Third quarter 2023 results: EPS: €0.83 (up from €0.45 in 3Q 2022). Revenue: €31.2m (up 31% from 3Q 2022). Net income: €2.70m (up 84% from 3Q 2022). Profit margin: 8.7% (up from 6.2% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Duyuru • May 09
FORTEC Elektronik AG to Report Q3, 2023 Results on May 25, 2023 FORTEC Elektronik AG announced that they will report Q3, 2023 results on May 25, 2023 Buying Opportunity • Apr 13
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 9.9%. The fair value is estimated to be €28.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 11% in 2 years. Earnings is forecast to grow by 9.0% in the next 2 years. Reported Earnings • Mar 31
Second quarter 2023 earnings released: EPS: €0.45 (vs €0.45 in 2Q 2022) Second quarter 2023 results: EPS: €0.45 (down from €0.45 in 2Q 2022). Revenue: €25.3m (up 21% from 2Q 2022). Net income: €1.45m (flat on 2Q 2022). Profit margin: 5.7% (down from 7.0% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Feb 09
Upcoming dividend of €0.70 per share at 2.7% yield Eligible shareholders must have bought the stock before 16 February 2023. Payment date: 20 February 2023. Payout ratio is a comfortable 35% but the company is paying out more than the cash it is generating. Trailing yield: 2.7%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (1.0%). Valuation Update With 7 Day Price Move • Jan 07
Investor sentiment improved over the past week After last week's 15% share price gain to €26.00, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 18x in the Electronic industry in Germany. Total returns to shareholders of 43% over the past three years. Reported Earnings • Nov 27
First quarter 2023 earnings released: EPS: €0.60 (vs €0.53 in 1Q 2022) First quarter 2023 results: EPS: €0.60 (up from €0.53 in 1Q 2022). Revenue: €25.8m (up 22% from 1Q 2022). Net income: €1.94m (up 14% from 1Q 2022). Profit margin: 7.5% (down from 8.1% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 8% per year and the company’s share price has also increased by 8% per year. Price Target Changed • Nov 16
Price target increased to €31.00 Up from €28.00, the current price target is provided by 1 analyst. New target price is 23% above last closing price of €25.20. Stock is up 32% over the past year. The company is forecast to post earnings per share of €1.93 for next year compared to €1.92 last year. Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment improved over the past week After last week's 24% share price gain to €24.40, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 17x in the Electronic industry in Germany. Total returns to shareholders of 35% over the past three years. Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €19.30, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 14x in the Electronic industry in Germany. Total returns to shareholders of 4.8% over the past three years. Reported Earnings • May 26
Third quarter 2022 earnings: Revenues in line with analyst expectations Third quarter 2022 results: Revenue: €25.4m (up 26% from 3Q 2021). Net income: €1.47m (up 23% from 3Q 2021). Profit margin: 5.8% (in line with 3Q 2021). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 5.7%, compared to a 19% growth forecast for the industry in Germany. Price Target Changed • Apr 27
Price target increased to €27.00 Up from €25.00, the current price target is provided by 1 analyst. New target price is 32% above last closing price of €20.40. Stock is up 15% over the past year. The company is forecast to post earnings per share of €1.42 for next year compared to €1.19 last year. Price Target Changed • Apr 07
Price target increased to €27.00 Up from €25.00, the current price target is provided by 1 analyst. New target price is 25% above last closing price of €21.60. Stock is up 17% over the past year. The company is forecast to post earnings per share of €1.42 for next year compared to €1.19 last year. Reported Earnings • Apr 01
Second quarter 2022 earnings: EPS misses analyst expectations Second quarter 2022 results: EPS: €0.45 (up from €0.11 in 2Q 2021). Revenue: €21.6m (up 25% from 2Q 2021). Net income: €1.47m (up 302% from 2Q 2021). Profit margin: 6.8% (up from 2.1% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.0%. Over the next year, revenue is forecast to grow 7.1%, compared to a 28% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €18.80, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 18x in the Electronic industry in Germany. Total returns to shareholders of 1.1% over the past three years. Upcoming Dividend • Feb 18
Upcoming dividend of €0.60 per share Eligible shareholders must have bought the stock before 25 February 2022. Payment date: 01 March 2022. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of German dividend payers (3.3%). Higher than average of industry peers (0.7%). Reported Earnings • Oct 30
Full year 2021 earnings released: EPS €1.19 (vs €1.47 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: €79.5m (down 9.4% from FY 2020). Net income: €3.88m (down 19% from FY 2020). Profit margin: 4.9% (down from 5.4% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Reported Earnings • May 29
Third quarter 2021 earnings released: EPS €0.37 (vs €0.51 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €21.1m (down 14% from 3Q 2020). Net income: €1.20m (down 28% from 3Q 2020). Profit margin: 5.7% (down from 6.8% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 6% per year and the company’s share price has also fallen by 6% per year. Reported Earnings • Mar 28
Second quarter 2021 earnings released: EPS €0.11 (vs €0.20 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €17.3m (down 13% from 2Q 2020). Net income: €364.5k (down 45% from 2Q 2020). Profit margin: 2.1% (down from 3.3% in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 5% per year. Reported Earnings • Nov 28
First quarter 2021 earnings released: EPS €0.31 The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: €20.7m (down 4.0% from 1Q 2020). Net income: €1.02m (down 29% from 1Q 2020). Profit margin: 4.9% (down from 6.7% in 1Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 6% per year. Analyst Estimate Surprise Post Earnings • Oct 30
Annual earnings released: Revenue beats expectations Annual revenue exceeded analyst estimates by 0.03% at €87.7m. Earnings per share (EPS) were mostly in line with analyst estimates at €1.47. Revenue is expected to shrink by 3.5% over the next year, compared to a 23% growth forecast for the Electronic industry in Germany. Reported Earnings • Oct 30
Full year earnings released - EPS €1.47 Over the last 12 months the company has reported total profits of €4.78m, down 16% from the prior year. Total revenue was €91.2m over the last 12 months, up 3.3% from the prior year. Profit margins were 5.2%, which is lower than the 6.4% margin from last year. The decrease in margin was driven by higher expenses.