Endor AG: Adjustment of revenues and earnings guidance due to revenue shifts as a result of general difficulties in the global logistics chain

Landshut, August 09, 2021 - Despite strong demand remaining intact, but due to the now longer lasting general disruptions in the global logistics and goods flows, some of Endor AG's sales are expected to be postponed into next year. Accordingly, the revenues and EBIT forecast for 2021 have to be adjusted. Previously, Endor assumed a slight increase in EBIT. Now the Management Board expects EBIT to decline. Revenues were expected to exceed the EUR 100 million mark in 2021. Due to the postponements, revenues will now be lower.

Demand for Endor products remains very strong and intact. In the first half of the year, sales have matched the previous year's level, which is all the more impressive given that products in the high-volume mid-price segment in particular have been sold out since April. In particular, the wheel bases of the CSL and Clubsport series as well as numerous steering wheels are not available for several months and the high-volume and price-sensitive console market can currently only be served with the expensive Podium series. Sales in Q2 and Q3 will primarily be generated in the high-priced high-end segment. The problems in global logistics are affecting Endor on both the procurement and the sales side and are leading to restrictions in the ability to deliver, as a result of which corresponding sales are being postponed, in some cases probably into 2022. Pre-orders for the new CSL DD, which will be delivered from September 2021 and will impact sales from then on, also continue to develop very positively. In addition, a new PlayStation-compatible product in the entry-level range is planned for the end of the year, whose planned sales will also be partially postponed until Q1 2022.

Person making the notification:
Andras Semsey, CFO