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FORTEC Elektronik AG

Quarterly Report • May 24, 2012

161_10-q_2012-05-24_181bedc9-a39d-49aa-ba13-95b8089ff74b.pdf

Quarterly Report

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Report 3rd Quarter 2011/2012

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

01.07.2011 – 31.03.2012

Content

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

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

Management Report 2011/12

01.07.2011– 31.03.2012

During first 9 months of BY 2011/12, the turnover of 36.8 million € again topped the figures of 35.2 million € of same period last year. Profit before tax and interest (EBIT) parallel increased from 1.770 million € to 1.851 million €. This mainly was the subsidiaries' success – in particular of the companies EMTRON and Autronic exclusively operating in the field of power supplies.

The profit after tax rose from 1.322 million € to 1.383 million €; thus resulting in a profit per share of 47 cent during these 9 months. Therefore, it is expected that the dividend payment of 50 cent per share for BY 2011/12 can again be made from net result based on the fact that the cash flow from operative business during first 9 months again achieved 77 cent per share.

The company's strength is the business of power supplies and data visualisation. The segment power supplies achieved 21.3 million € of total profit and a EBIT of 1.6 million; whereas the segment data visualization put up 15.3 million € and a EBIT of 0.25 million € and thus also added to the company's success.

Again during this BY, the segment power supplies achieved its EBIT margin of 7.5%; however, during the years to come some additional efforts are needed to catch up with this result in the segment of data visualisation.

CONSOLIDATED BALANCE SHEET (uncertified) according to IAS/IFRS 31.03.2012 (prev. years' figures 30.06.2011)

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Consolidated IncomeStatement

(uncertified), according to IAS/IFRS

01.07.2011 - 31.03.2012 (prev.year's figures 01.07.10- 31.03.11)

Income Statement BY 2011/12 BY 2010/11
Sales revenues 36.823.782 € 35.200.872 €
Other operating income 579.141 € 650.850 €
Cost of material 27.957.396 € 26.762.002 €
Expenses personnel 4.378.402 € 4.122.625 €
Depreciation 231.008 € 221.667 €
Other operating expenses 2.984.507 € 2.975.150 €
Operating income (EBIT) 1.851.610 € 1.770.278 €
Other interests and similar
income		 59.781 € 43.379 €
Taxes on income and profit 528.437 € 491.023€
Net income 1.382.954 € 1.322.634€
Earnings per share /3rd quarter 0,47 € 0,45 €
Shares outstanding 2.954.943 2.954.943

Consolidated IncomeStatement

(uncertified), according to IAS/IFRS

01.01. - 31.03.2012 (prev.year's figures 01.01. - 31.03.11)

Income Statement Q3 (1.01.-31.03.12) Q3 (1.01.-31.03.11)
Sales revenues 12.584.417 € 13.296.296€
Other operating income 179.908 € 270.264 €
Cost of material 9.414.561 € 10.255.019 €
Expenses personnel 1.452.728 € 1.313.166 €
Depreciation 81.001 € 68.014 €
Other operating expenses 924.542 € 929.058 €
Operating income (EBIT) 891.493 € 1.001.303 €
Other interests and similar
income		 19.094 € 14.493 €
Taxes on income and profit 237.025 € 286.632€
Net income 673.562 € 729.164 €
Earning per share /3rd
quarter		 0,23 € 0,25 €
Shares outstanding 2.954.943 2.954.943

Consolidated Statement of Comprehensive Income

0
1.
0
1
1 -
3
1.
0
3.
2
0
1
2
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Consolidated Statement of Chances in Equity

O
t
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9.
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6
2.
6
3
4

Consolidated Cash Flow Statement

(uncertified), according to IAS/IFRS

01.07.2011 -31.03.2012 (prev.year's figures 01.07.10 - 31.03.2011)

I. Operative business BY 2011 /12 BY 2010 /11
Net income € 1.382.954 € 1.322.634
Depreciation of tangible and intangible assets €
231.008		 €
221.667
Change of inventories € -
39.697		 € - 1.103.970
Change of accounts receivables €
190.352		 € - 1.375.022
Change of liabilities € -
53.717		 €
622.729
Change of accruals €
674.736		 €
480.704
Change of other assets € - 121.090 € -
59.500
Cash-flow from operative business ------------------
€ 2.264.546		 ------------------
€
109.242
II. Investment Activities
Cash-flow from investment activities € -
74.795		 €
777.877
III. Financial Activities
Profit earned/paid € - 1.477.471 € - 886.483
VI. Cash-flow in total €
712.280		 €
636
V. Change in liquid Funds
Cash at beginning of period € 7.589.096 € 6.355.459
Cash at end of period € 8.301.376 € 6.356.095

Annexe.

The balancing and evaluation methods of fiscal year 2010/11 according to IAS/IFRS remain unchanged. The information given in this report is only valid at day of publication and cannot be written forth. The number of full-time employees remained unchanged at 110 (prev. year 110). The group's business comprises data visualisation and power supplies.

Segment report Data
visualisation
TEuro		 Power
supplies
TEuro
Turnover 15.533 21.291
Result (EBIT) 251 1.601
Financial result 26 34
Income tax 92 437
Net income 185 1.198

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