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FORTEC Elektronik AG

Quarterly Report Nov 26, 2009

161_10-q_2009-11-26_80e3af9b-483b-40b9-b48c-fb89e25d7b54.pdf

Quarterly Report

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Report 1st Quarter 2009/2010

======================= July 01 – September 30, 2009

Content

  • Management Report
  • Consolidated Balance Sheet
  • Consolidated Income Statement
  • Cash Flow Statement
  • Statement of Capital Changes

Report 1st Quarter 2009/2010

Also during 1st quarter of this business year and due to the industrial situation, we have faced a decrease in turnover of more than 30 p.c. compared to same period of last year.

In spite of this drastic decrease, however, we achieved to run business without any losses during this quarter at a positive cash flow of 0.5 million EUR in total. It is expected that the industrial descent will be over and in the long run we hope to overcome the bottom of this cycle within the next couple of weeks.

The number of employees of 118 was by 6 p.c. less than the average of 125 persons in FY 2008/09 and will decrease by only some during next quarter. Our goal is to keep our staff in the long run beyond this economic downswing by means of the short-time work.

Same as previous years, suggestion will be made from the board of directors on the annual general meeting on 17th December 2009 for a dividend of € 0.30 per share.

Company Information

The balancing and evaluation methods according to IAS/IFRS remain unchanged compared to BY 2008/09. The total of 7.5 million EUR sales' volume consists of 3.7 million EUR in the field of power supplies and 3.8 million EUR of data visualization.

CONSOLIDATED BALANCE SHEET (uncertified) according to IAS/IFRS 30.09.2009 (last year's figures 30.06.2009)

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Consolidated Income Statement (uncertified) according to IAS/IFRS

01.07. – 30.09.2009 (last year's figures 01.07. - 30.09.2008)

Income Statement FY 2009/10 FY 2008/09
Sales revenues 7.536.411 € 11.263.460 €
Other operating income 145.957 € 199.601 €
Cost of material 5.492.162 € 8.411.287 €
Personnel expenses 1.300.026 € 1.436.979 €
Depreciation 65.365 € 64.301 €
Other operating expenses 794.576 € 871.923 €
Operating income (EBIT) 30.239 € 678.571 €
Other interests and similar income 26.654 € 42.009 €
Taxes on income and profit 35.656 € 215.240 €
Net income 21.237 € 505.340 €
Earning per share/1st Quarter 0,01 0.17
Shares outstanding 2.954.943 2.954.943

Consolidated Cash Flow Statement

(uncertified) according to IAS/IFRS 01.07. - 30.09.2009 (last year's figures 01.07. - 30.09.2008)

I. Operative Business FY 2009/10 FY 2008/09
Net income
21.237

505.340
Depreciation of tangible and intangible assets
65.365

64.301
Change of inventories
- 83.868
€ - 773.413
Change in accounts receivables
929.895

221.107
Change of liabilities € - 621.143
505.364
Change of accruals
98.400

61.330
Change of other assets
179.207

- 49.852
Cash flow from operating business
589.093
€ - 476.551
II. Investment Activities
Investments of finance/tangible
and intangible assets
€ - 93.077 € - 121.139
Earnings from assets
0

2.073
Cash flow from investment activities € - 93.077 € - 119.066
III. Financing Activities
Earnings from finance assets
0

0
VI. Cash flow in total € 496.016 € - 595.617
V. Change in Liquid Funds
Cash at the beginning of period € 5.146.225 € 4.831.168
Cash at the end of period € 5.642.241 € 4.235.551

Company Capital. (uncertified) according to IAS/IFRS 01.07. - 30.09.2009 (last year's figures 01.07. - 30.09.2008)

Capital
stock
EUR
Capital
Reserves
EUR
Development of reserves
and accumulated profit
EUR
TOTAL
EUR
Balance 01.07.2008 2.954.943 8.689.364 5.802.462 17.446.769
Period earning 505.340 505.340
Balance 30.09.2008 2.954.943 8.689.364 6.307.802 17.952.109
Not transferable
according to § 150 AktG
according to § 47 AktG
2.954.943 8.689.364
Capital
stock
EUR
Capital
Reserves
EUR
Development of reserves
and accumulated profit
EUR
TOTAL
EUR
Balance 01.07.2009 2.954.943 8.689.364 6.443.473 18.087.780
Period earning 21.237 21.237
Balance 30.09.2009 2.954.943 8.689.364 6.464.710 18.109.017
Not transferable
according to § 150 AktG
according to § 47 AktG
2.954.943 8.689.364

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