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Fortec Electronics lowers forecast and cuts costs

Fortec Electronics released figures on Wednesday. In the third quarter of the 2019/2020 financial year, sales decreased from EUR 67 million to around EUR 66 million, and the operating profit before interest and taxes from EUR 6.1 million to EUR 5.2 million. “After the above-average successful 2018/2019 financial year, Fortec Elektronik AG cannot completely escape the generally weakened economic dynamics,” the company said on Wednesday.

Fortec expects the corona pandemic to continue to impact business. As a precaution, the forecast for 2019/2020 is lowered, the company said. Organic sales are now expected to decline by up to 15 percent. Before interest and taxes, the operating profit should decrease by 10 percent to 35 percent. “The board has already responded to the current challenges and has taken necessary cost-cutting measures,” said Fortec.

At a glance – chart and news: Fortec Elektronik

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