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FORTEC Elektronik AG

Quarterly Report • Nov 23, 2015

161_10-q_2015-11-23_b67ad674-f68d-4c20-b2e0-05f495171412.pdf

Quarterly Report

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Report 1st Quarter 2015/2016

======================= July 01 – September 30, 2015

Content

  • Management Report
  • Consolidated Balance Sheet
  • Consolidated/Comprehensive Income Statement
  • Statement of Changes in Equity
  • Cash Flow Statement
  • Segment Report

Report 1st Quarter 2015/2016

01.07.-30.09.2015

During 1st quarter of BY 2015/16, turnover of 19.4 million EUR considerably topped the figures of last year of 11.4 million EUR, also because of the first consolidation of Data Display GmbH of 7.7 million EUR.

After the fully consolidated sales of Data Display, the segmental turnover in the field of data visualisation is 12.7 million EUR compared to last year of 4.9 million EUR Data Display not included. Turnover of power supplies of 6.7 million EUR also increased compared to same period of last year of 6.4 million EUR.

In spite of the unsteadiness in all markets during summer time – especially the decrease of economy in China as well as in the emerging markets - we achieved to grow within our key-market of Central Europe not only as concerns acquisitions but also organic-wise.

In the Anglo-American economic region, business continued to boom extraordinarily. This had a very positive effect on our transactions resp. participations as concerns Data Display (start 01.10.2014) and its subsidiary Display Technology Ltd., England as well as Apollo Display Technologies Corp., USA.

Especially based on the consolidated participation of Data Display, FORTEC was able to top its period's end result of 0.6 million EUR considerably compared to last year of 0.3 million EUR.

Therefore, we are very optimistic for this current BY – also with respect to our shareholders – to again be able to achieve a positive result compared to previous BY of 2014/15. By achieving 20 Cent per share we are very well positioned during first quarter of this new BY.

Annexe

This quarterly report is to be understood and read in accordance with years report as per 30.06.2015. Balance and evaluation methods according to IAS/IFRS compared to BY 2014/15 remain unchanged. Information and details reported in quarterly report are only valid at date of publication and are not to be updated.

Consolidated Balance Sheet(uncertified), according to IAS/IFRS 30.09.2015 (previous year 30.06.2015)

A
S
S
E
T
S		 5
3
0.
0
9.
2
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0

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

I N C O M E (in €) BY 2014/15 BY 2015/16
Sales net 11.355.516 19.416.285
Other operative income 91.728 281.642
Material expenses/costs 8.637.346 13.554.592
Expenses personnel 1.469.968 3.086.245
Depreciation 68.703 119.455
Other operative income 860.929 1.716.039
Operative income (EBIT) 410.298 1.221.596
Interest and similar income
/expenses		 4.750 6.329
Tax on income and profit 114.398 346.267
Period's net income of
mother company		 300.650 602.808
Period's net income other
shareholders *		 0 278.850
Other result **
mother company		 13.636 3.229
Other result ** 0 28.244
other shareholders
Total result – shares of 3rd
parties not included		 314.286 606.037
Earning per share/1st
quarter – shares of 3rd
parties not included		 0,10 0,20
Shares in total 2.954.943 pcs 2.954.943 pcs

01.07. - 30.09.2015 (prev.year 01.07.-30.09.2014)

* Period's income of 50 p.c. parts of Data Display GmbH belonging to other shareholder at consolidation

** Other result includes only "success-neutral" difference of foreign currency exchange rates.

Consolidated Statement of Changes in Equity

O
t
he		 ls
r a
cc
ru
a		 T
O
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A
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Su
bs
i
be
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cr		 Ca
i
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p		 Ex
ha
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e-
ra		 Ma
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Pr
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E
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R		 E
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R		 E
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p
er		 5
2.
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4.
9
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6
8
9.
3
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8
6
6.
6
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1
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2
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1.
1
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3.
7
9
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4
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6
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io
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inc
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e		 6
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2.
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C
ha
"O
he
l
"
t
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2
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2
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D
iv
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p
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er		 2.
9
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* shares of 3rd parties not included amounting to € 5.658.152

Ba
lan
0
1.
0
7.
2
0
1
4
ce
p
er		 5
2.
9
4.
9
4
3		 8.
6
8
9.
3
6
4		 1.
0
9
1.
3
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3
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1
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1		 2
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1
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d
's
inc
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r
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om
e		 3
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6
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"O
ha
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6
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6		 0 9.
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8
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1		 2
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4
3
4.
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4

Consolidated Cash-flow Statement (uncertified) according to IAS/IFRS

01.07. -30.09.2015 (previous year 01.07. - 30.09.2014)

I. Operative Business BY 2014/15 BY 2015/16
Period's net income €
300.650		 €
602.808
Depreciation on tangible/intangible assets €
68.703		 €
119.455
Change of inventories € - 376.660 € - 272.348
Change of accounts receivables €
154.585		 € - 429.942
Change of liabilities €
120.105		 € -.110.557
Change of accruals € -
93.170		 € - 155.058
Change of other assets € - 144.207 €
29.245
Cash-flow operative business € .
30.006		 € - 216.397
II. Investment Activities
Investments of finance/tangible
and intangible assets		 € - 5.729.138 €
0
Earnings from sales of assets €
0		 €
112
Cash-flow investment activities € - 5.729.138 €
112
III. Financial Activities
Earnings from sales of financial assets €
0		 €
0
VI. Cash-flow in total € - 5.699.132 € - 216.509
V. Change in liquid Funds
Cash at beginning of period € 8.664.527 € 5.728.148
Cash at end of period € 2.965.395 € 5.511.639

Segment Report

The group's business comprises data visualization and power supplies. Due to the 202 employees (prev.year 111- employees of Data display Group not included), a turnover of 12.7 million EUR in the segment visualization and 6.7 million EUR in power supplies is achieved.

Both segments are separate business fields within the group and work independently.

Segment report Data Power
visualisation supplies
TEuro TEuro
Turnover 12.757 6.659
Result (EBIT) * 373 475
Financial result * 3 0
Income tax * 100 142
Net income * 270 333

* shares of 3rd parties not included

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