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FORTEC Elektronik AG

Quarterly Report Nov 29, 2016

161_10-q_2016-11-29_daeb4ed9-1ac7-4a31-b9a3-ca2d659d7702.pdf

Quarterly Report

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1st Quarterly Statement 2016/2017

============================

July 01 – September 30, 2016

Content

  • Management Report
  • Consolidated Balance Sheet
  • Consolidated/Comprehensive Income Statement

FORTEC Elektronik AG Ph: +49(0)8191-91172-13 Fax: +49(0)8191-21770 Email: [email protected]

Report 1st Quarter 2016/2017

01.07.-30.09.2016

During first quarter of BY 2016/17, turnover of 18.4 million € did not reach that of previous year of 19.4 million €. The Brexit-Votum accompanied by these unsecurities induced a brake-mechanism throughout the strong export-orientated countries within Central Europe.

The FORTEC Group as industrial supplier continues to face an unsecure clientele. The Brexit-Votum as well as the election of Donald Trump for president of the U.S.A. further unsecured industrial customers. Fact is that these developments actually lead to hesitating decisions as concerns investments and consequently result in decreased turnover figures compared to previous year.

During first quarter of BY 2016/17, turnover in the field of power-supplies – due further growing market of LED-power-supplies increased with 7 million € compared to previous year of 6.7 million €; whereas the field of data visualization – business made exclusively in the industrial sector – amounting to 11.4 million € compared to 12.7 million € was definitely lower.

In general, it is expected that the German economy after the growth-down-hill during fall of year's end 2016 will again swing up to be continued during next year. At least newest indications seem to have hope for that development. The Ifo-institute confirmed this thesis of the actual Ifo-business climate, defending its high standard in November and in addition the GfK-consumer climate thus partly gained of importance.

The actual slightly decreased economic situation within our business field will not lead to any changes as to our cost situation. Still we continue to be optimistic – middle and for long – to increase our business and on top, actually continue to further build-up our business.

On occasion of our annual general meeting at February 16, 2017, we will suggest a dividend to our shareholder of 20% increase e.g. 60 Cent per share – thus participating them to our long-term and positive prognosis of our business-model.

Consolidated Balance Sheet(uncertified), according to IAS/IFRS 30.09.2016 (previous year 30.06.2016)

A
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Consolidated/ Comprehensive Income Statement (uncertified) according to IAS/IFRS

I N C O M E (in €) BY 2016/17 BY 2015/16
Sales net 18.412.996 19.416.285
Other operative income 378.266 281.642
Material expenses/costs 12.793.939 13.554.592
Expenses personnel 3.017.480 3.086.245
Depreciation 129.813 119.455
Other operative income 1.791.916 1.716.039
Operative income (EBIT) 1.058.114 1.221.596
Interest and similar income
/expenses
./. 12.417 6.329
Tax on income and profit 292.795 346.267
Period's net income 752.902 881.658
Other result * ./. 8.312 31.473
Total result 744.590 913.131
Earning per share/1st
quarter
0,25 0,30
Shares in total 2.954.943 pcs 2.954.943 pcs

01.07. - 30.09.2016 (prev.year 01.07.-30.09.2015)

* Other result includes only "success-neutral" difference of foreign currency exchange rate:

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