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FORTEC Elektronik AG

Quarterly Report • Nov 20, 2014

161_10-q_2014-11-20_d1411e68-e50f-45ac-8aa7-a830ad534dd6.pdf

Quarterly Report

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Report 1st Quarter 2014/2015

======================= July 01 – September 30, 2014

Content

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

Report 1st Quarter 2014/2015

01.07.-30.09.2014

During 1st quarter of BY 2014/15, figures of last year were slightly topped by a turnover of 11.4 million EUR and an EBIT of 0.4 million EUR. In spite of positive lookouts, the expected economic recovery throughout the entire EUR area is still not seen.

Geo-political crisis in Europe keep on depressing the general mood. First of all, the Ukraine conflict considerably alieniates the export-orientated economy in Central Europe. In the meanwhile, the sanctions against Russia have rather economic influences on the German industry.

This political situation is the reason of the economic development within the EUR region mainly as concerns turnover and income; whereas the economy in the Anglo-American region is still dynamic. This might have a future positive effect on our participation on Display Technology Ltd., England and Apollo Display Technologies Corp,, USA within the Data Display Group in effect since 01.10.2014

Thus, we are optimistic for this BY as well as our shareholders to achieve considerable better results compared to last BY 2013/14.

The annual board meeting for BY 2013/14 will be held on February 24th, 2015. Board management and supervisors will again offer a dividend of 50 Cent per share to shareholders.

Annexe

This quarterly report is to be understood and read in accordance with years report as per 30.06.2014. Balance and evaluation methods according to IAS/IFRS compared to BY 2013/14 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 30.09.2014 (previous year 30.06.2014)

S
S
S
A
E
T		 F
Y
3
0.
0
9.
2
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1
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&
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Consolidated/ Comprehensive Income Statement (uncertified) according to IAS/IFRS

I N C O M E (in €) FY 2014/15 FY 2013/14
Umsatzerlöse 11.355.516 11.335.058
Other operative income 91.728 163.548
Material expenses/costs 8.637.346 8.729.983
Expenses personnel 1.469.968 1.453.755
Depreciation 68.703 62.062
Other operative income 860.929 854.139
Operative income (EBIT) 410.298 398.667
Interst and similar income
/expenses		 4.750 4.827
Tax on income and profit 114.398 111.213
Period's net income 300.650 292.281
Other result * 13.636 2.718
T O T A L result 314.286 294.999
Earnings per share/1st.
quarter		 0,10 0,10
Shares on market 2.954.943 pcs 2.954.943 pcs

01.07. - 30.09.2014 (prev.year 01.07.-30.09.2013)

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

Consolidated Statement of Changes in Equity

O
he
t		 ls
r a
cc
ru
a		 T
O
T
A
L
Su
bs
i
be
d
cr
i
l
ta
ca
p		 Ca
i
l
ta
p
ls
ac
cr
ua		 Ex
ha
te
c
ng
e-
ra
d
i
f
fe
re
nc
es		 Ma
ke
t
r
lu
io
t
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a
a
n
ls
ac
cr
ua		 Pr
f
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/
t r
o
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Pr
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ie
d
t c
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rw
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R		 E
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R		 E
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1.
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6
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4

Segment Report

The group's business comprises data visualization and power supplies. Due to the 111 employees (prev.year 112), a turnover of 4.9 million EUR in the segment visualization and 6.4 million EUR in power supplies is achieved.

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

Segment report Data Power
visualisiation supplies
TEuro TEuro
Turnover 4.927 6.429
Result (EBIT) 41 369
Financial result 2 3
Income tax 13 101
Net income 30 271

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

01.07. -30.09.2014 (previous year 01.07. - 30.09.2013)

I. Operative Business GJ 2014/15 GJ 2013/14
Period's net income €
300.650		 €
292.281
Depreciation on tangible/intangible assets €
68.703		 €
62.062
Change of inventories € - 376.660 €
657.435
Change of accounts receivables €
154.585		 €
493.717
Change of liabilities €
120.105		 €-1.112.217
Change of accruals € -
93.170		 € -
33.784
Change of other assets € - 144.207 € -
38.820
Cash-flow operative business € .
30.006		 €
320.674
II. Investment Activities
Investments of finance/tangible
and intangible assets		 € - 5.729.138 € - 400.149
Earnings from sales of assets €
0		 €
0
Cash-flow investment activities € - 5.729.138 € - 400.149
III. Financial Activities
Earnings from sales of financial assets €
0		 €
0
VI. Cash-flow in total € - 5.699.132 € - 79.475
V. Change in liquid Funds
Cash at beginning of period € 8.664.527 € 7.236.836
Cash at end of period € 2.965.395 € 7.157.363

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