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FORTEC Elektronik AG

Quarterly Report • Nov 26, 2013

161_10-q_2013-11-26_e6c12e14-71c3-4375-b93d-efb811887be0.pdf

Quarterly Report

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Report 1st Quarter 2012/2013

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

July 01 – September 30, 2012

Content

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

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

Report 1st Quarter 2013/2014

01.07.-30.09.2013

Last year's result in FY 2012/13 could again be achieved with a turnover of 11.3 million EUR, an EBIT of 0.4 million EUR and a net income of 0.3 million EUR. Despite of a friendly atmosphere in business in general, this development in turnover and profit clearly reveals that the bottom in economy is not yet finally crossed.

Yet, an end is expected for this development phase of the economy in Central Europe. Major economy research institutes of the Federal Republic of Germany published in its October survey that an economic upswing is awaited for Germany.

These scientific institutes see a new trend for 2014 especially in the field of the investment goods' industry. According to the institute, the companies do not hesitate any more as concerns their investments and intend to make benefit of the low interests to reinvest considerably in equipment and machines.

Being a last cycle company, FORTEC will also broadly make profit beginning this next fiscal year. During this FY 2013/14, we expect a satisfactory result in general

The annual board meeting for BY 2012/13 will be held on February 20th, 2014. 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 30.06.2013. Balance and evaluation methods according to IAS/IFRS compared to BY 2012/13 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 30.09.2013 (previous year 30.06.2013)

A
S
S
E
T
S		 F
Y
3
0.
0
9.
2
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1
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3
0.
0
6.
2
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3		 E
Q
U
I
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&
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A
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I
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0
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A
No
t a
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7

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

INCOME FY 2013/14 FY 2012/13
Sales revenues 11.335.058 € 11.249.639 €
Other operative income 163.548 € 152.635 €
Material costs/expenses 8.729.983 € 8.644.295 €
Expenses personnel 1.453.755 € 1.407.150 €
Depreciation 62.062 € 63.595 €
Other operative expenses 854.139 € 908.996 €
Operative Income (EBIT) 398.667 € 378.238 €
Interests and similar
income / expenses		 4.827 € 9.518 €
Tax on income and profit 111.213 € 96.583 €
Period's net income 292.281 € 291.173 €
Other result * 2.718 € ./. 3.112 €
TO T A L result 294.999 € 288.061 €
Earnings per share/ 1.st
quarter		 0,10 € 0,10 €
Shares on market 2.954.943 2.954.943

01.07. - 30.09.2013 (prev.year 01.07.-30.09.2012)

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

Consolidated Statement of Changes in Equity

O
t
he
r c		 h.
in
om
p
re
co
m
e		 T
t a
l
o
Su
bs
i
be
d
cr		 Ca
i
l
ta
p		 Ex
ha
c
ng
e		 Ma
ke
t –
r		 Pr
f
i
/
t r
o
es
er
ve
i
ta
l
ca
p		 re
se
rv
e		 te
ra
 lu
t
io
ev
a
a
n		 Pr
f
i
t c
ie
d
o
ar
r
d
i
f
fe
re
nc
es		 re
se
rv
e		 fo
d
rw
ar
E
U
R		 E
U
R		 E
U
R		 E
U
R		 E
U
R		 E
U
R
Ba
lan
0
1.
0
7.
2
0
1
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p
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9
4.
9
4
3
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6
8
9.
3
6
4		 1.
0
1
1.
3
2
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3
2
4
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3
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1.
9
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1.
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io
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inc
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2.
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9
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3
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6
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4.
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1
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io
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t
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om
e		 2
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1.
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C
ha
"O
he
l
"
t
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1
1
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D
iv
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d
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p
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3
7		 0 9.
3
3
5.
7
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2.
1
1
9.
2
0
1

Segment Report

The group's business comprises data visualization and power supplies. Due to the 112 employees, a turnover of 5 million EUR in the segment visualization and 6.3 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 5.005 6.330
Result (EBIT) 54 345
Financial result 2 3
Income tax 17 94
Net income 39 253

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

01.07. -30.09.2013 (previous year 01.07. - 30.09.2012)

I. Operative Business FY 2013/14 FY 2012/13
Period's net income €
292.281		 € 291.173
Depreciation of tangible/intangible assets €
62.062		 €
63.595
Change of inventories €
657.435		 € - 882.428
Change of accounts receivables €
493.717		 € 445.305
Change of liabilities € - 1.112.217 € - 335.255
Change of accruals €
- 33.784		 € - 204.355
Change other assets €
- 38.820		 € - 128.298
Cash-flow operative business €
320.674		 € - 750.263
II. Investment Activities
Investments of finance / tangible
and intangible assets		 €
- 400.149		 € - 23.316
Earnings from assets €
0		 €
0
Cash-flow investment activities €
- 400.149		 € - 23.316
III. Financial Activities
Earnings from financial assets €
0		 €
0
VI. Cash-flow in total €
- 79.475		 € - 773.579
V. Change in Liquid Funds
Cash at beginning of period € 7.236.836 € 8.694.827
Cash at end of period € 7.157.363 € 7.921.248

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