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FORTEC Elektronik AG

Quarterly Report • May 30, 2013

161_10-q_2013-05-30_b9c655dc-1a21-41d6-8bf0-64532b7c56cd.pdf

Quarterly Report

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Report 3rd Quarter 2012/2013

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

01.07.2012 – 31.03.2013

Content

  • Management Report
  • Consolidated Balance Sheet
  • 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 2012/13

01.07.2012– 31.03.2013

During BY 2012/13 based on economic circumstances, the turnover of the first 9 months of 33.155 million EUR was below that of last year's period of 36.824 million EUR. Yet due to more favorable business during 3rd Quarter (January to March 2013), profit before tax and interest (EBIT), was 1.499 million EUR, still below the figures of same periods of previous years (last year 1.852 million EUR). This was mainly FORTEC's success and that of its subsidiary EMTRON; whereas the companies ROTEC and AUTRONIC – after positive results these last years - now slightly tend to "minus" due to their own high fix costs.

The profit after tax reduced from 1.383 million EUR to now 1.102 million EUR; thus resulting in a profit of 37 Cent per share compared to 47 Cent of last year's period. It is expected again a dividend payment of 50 Cent for BY 2012/13 made and earned in full up to 30.06.2013.

The company's works in the business of power supplies and data visualization. In spite of the increase in quantities sold, however, the segment data visualization with 14.9 million EUR could not meet its last year's turnover of 15.3 million EUR. And due to economic circumstances, the segment power supplies had to face a turnover decrease by 3 million EUR resulting in 18.3 million EUR.

In spite of the actual declining turnover, we expect again positive growth for the coming years 2014 – 2016. Therefore, in 4th quarter we increased our staff in distribution/product marketing in order to be able to cope with the planned economic upswing at the end of this calendar year.

CONSOLIDATED BALANCE SHEET (uncertified) according to IAS/IFRS 31.03.2013 (prev. years' figures 30.06.2012)

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

Comprehensive Income BY 2012/13 BY 2011/12
Sales revenues 33.155.376 € 36.823.782 €
Other operating income 922.473 € 579.141 €
Cost of material 25.593.848 € 27.957.396 €
Expenses personnel 4.128.801 € 4.378.402 €
Depreciation 179.912 € 231.008 €
Other operating expenses 2.676.328 € 2.984.507 €
Operating income (EBIT) 1.498.960 € 1.851.610 €
Other interest and/or similar costs 41.487 € 59.781 €
Taxes on income and profit 438.193 € 528.437 €
Net income 1.102.254 € 1.382.954 €
Other result* ./. 14.278 € 38.211 €
Result in total 1.087.976 € 1.421.165 €
Earning per share/9-months 0,37 € 0,47 €
Shares outstanding 2.954.943 2.954.943

01.07.2012 - 31.03.2013 (prev.year's figures 01.07.11- 31.03.12)

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

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

Comprehensive Income Q 3 (1.01.-31.03.13) Q3 (1.01.-31.03.12)
Sales revenues 11.774.354 € 12.584.417 €
Other operating income 174.133 € 179.908 €
Cost of material 8.997.352 € 9.414.561 €
Expenses personnel 1.357.449 1.452.728 €
Depreciation 51.489 € 81.001 €
Other operating expenses 744.673 € 924.542 €
Operating income (EBIT) 797.524 € 891.493 €
Other interest and/or similar
costs		 5.356 € 19.094 €
Taxes on income and profit 273.801 € 237.025 €
Net income 529.079 € 673.562 €
Other result * ./. 11.457 € 38.211€
Result in total 517.622 € 711.773 €
Earning per share/3.Quarter 0,18 € 0,23 €
Shares outstanding 2.954.943 2.954.943

01.01. - 31.03.2013 (prev.year's figures 01.01. - 31.03.12)

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

Consolidated Statement of Chances in Equity

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Consolidated Cash Flow Statement

(uncertifies), according to IAS/IFRS

01.07.2012 -31.03.2013 (prev.year's figures 01.07.11 - 31.03.2012)

I. Operative Business BY 2012 /13 BY 2011 /12
Net income € 1.102.254 € 1.382.954
Depreciation of tangible and intangible assets €
179.912		 €
231.008
Chang of inventories € - 250.109 € -
39.697
Change of accounts receivables €
453.416		 €
190.352
Change of liabilities € - 1.249.187 € -
53.717
Change of accruals € -
195.728		 €
674.736
Change of other assets € -
145.264		 € - 121.090
Cash-flow from operative business -------------------
€ -
104.706		 --------------------
€ 2.264.546
II. Investment Activities
Cash-flow from investment activities		 € -
95.383		 € -
74.795
III. Financial Activities
Profit earned/paid € - 1.477.471 € - 1.477.471
VI. Cash-flow in total € - 1.677.560 €
712.280
V. Change in Liquid Funds
Cash at beginning of period €
8.694.827		 €
7.589.09
Cash at end of period €
7.017.267		 € 8.301.376

Annexe.

The balancing and evaluation methods of fiscal year 2011/12 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 reduced to 110 (prev. year 112). The group's business comprises data visualization and power supplies.

Segment report Data
visualisiation
TEuro		 Power
supplies
TEuro
Turnover 14.865 18.290
Result (EBIT) 462 1.037
Financial result 19 22
Income tax 135 303
Net income 346 756

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