Experts predict officials will set the cap at £3,576 per year for the average household
DGAP-News: Endor AG / Key word(s): Half Year Report Endor AG presents strong revenue and earnings figures for the first half of 2022 19.08.2022 / 09:39 The issuer is solely responsible for the content of this announcement.
Endor AG presents strong revenue and earnings figures for the first half of 2022
Group turnover increased by 124 percent to 79.3 million euros
Group EBIT reaches 17.7 million euros after 2.6 million euros in the previous year
EBIT margin of 22 percent after 7 percent in the previous year
Forecast for the current business year confirmed
Landshut, 19 August 2022 - Endor AG today published its business figures for the first half of 2022. The developer of high-quality input devices such as high-end steering wheels and pedals in the simracing market achieved a turnover of 79.3 million euros. This corresponds to a doubling, or an increase of 124 percent compared to the previous year's value of 35.4 million euros.
The biggest boost came from rising sales in connection with the SONY launch of the game software "Gran Turismo 7" and thanks to the significantly improved availability of goods. Endor AG benefited from the fact that it developed the first official direct drive wheel for the Gran Turismo™ series with its Fanatec brand, the Gran Turismo™ DD Pro.
Thomas Jackermeier, CEO of Endor AG: "We are very happy about the business development in the first half of the year. It is also particularly positive that the recent structural adjustment to the strong growth course has largely been completed, which stabilised our cost base."
Due to the structural adjustment made at that time, the company still recorded a temporarily weaker result in the first half of 2021. In the first half of 2022, however, the result rose sharply. The group EBIT (operating result) reached 17.7 million euros after 2.6 million euros in the previous year. An increase of 567 per cent. The EBIT margin was 22 percent after 7 percent in the previous year.
Despite the strong development, the sales trend cannot be extrapolated for the year as Endor AG benefited in the first half of the year from a strong special boom due to Gran Turismo. The development in the remaining two quarters depends heavily on the stability of the supply chains - especially in China - and the availability of goods.
The Executive Board confirms the forecast for the full year 2022. Accordingly, it expects consolidated revenue to be in the low three-digit million range for the first time, with a simultaneous moderate increase in EBIT.
The complete 2022 half-year report can be viewed at the following website: https://endor.ag/investor-relations/
Endor AG will hold a conference call regarding the half-year figures on 19 August 2022 at 2 pm CET. If you are interested, please contact the Investor Relations department.
About Endor AG www.endor.ag
Endor AG develops and markets high-quality input devices such as high-end steering wheels and pedals for racing simulations on game consoles and PCs as well as driving school simulators. As a “brain factory”, the company’s focus is on the creative sector. Endor carries out product development and prototype construction under its own direction and together with specialized technology partners, primarily in Germany (“German engineering”). The products are mainly produced in Asia.
Endor sells its products under the FANATEC brand via e-commerce primarily to end customers in Europe, the USA, Canada, Australia and Japan. Endor also sells driving school simulators in cooperation with Vogel Verlag. Endor AG, based in Landshut, was founded in 1997 and currently employs 147 people. Within the group, 192 people work for Endor worldwide, including freelancers. In 2021, the company generated a consolidated turnover of 81.3 million euros.
Endor AG, Investor Relations, Phone: +49(0)871-9221 222, E-Mail: ir@endor.ag
Anita Schneider/Frank Ostermair, Better Orange IR & HV, Phone: +49(0)89-8896906 17, E-Mail: ir@endor.ag
19.08.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart
Analysts had forecast £2.8bn for the month.
Singapore-based firm counts 50 million users worldwide
The price of dogecoin jumped this week after the new Dogechain platform gained traction from retail investors.
DP World saw its profit soar by more than 50% in the first six months of the year.
European and US stocks mostly fell Friday, with investors focused firmly on central bank interest rate hikes as the US dollar rallied.
Global Magnetite Nanoparticles Market Global Magnetite Nanoparticles Market Dublin, Aug. 19, 2022 (GLOBE NEWSWIRE) -- The "Magnetite Nanoparticles Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering. The global magnetite nanoparticles market reached a value of US$ 65.84 Million in 2021. Looking forward, the publisher expects the market to reach a value of US$ 126.11 Million by 2027, exhibiting a CAGR
Global Precious Metals Market Global Precious Metals Market Dublin, Aug. 18, 2022 (GLOBE NEWSWIRE) -- The "Precious Metals Market for Automotive Applications - A Global and Regional Analysis: Focus on Metal Type, Component, End User, and Region - Analysis and Forecast, 2022-2031" report has been added to ResearchAndMarkets.com's offering. The demand for precious metals for automotive applications is anticipated to grow with the increasing demand for catalytic convertors from the automotive indus
BERLIN (Reuters) -A charge to fund gas imports into Germany to boost national stocks has been set at 0.59 euro per megawatt hour (MWh), gas market operator Trading Hub Europe said on Thursday, feeding into a sharp rise in consumer energy costs. The gas storage levy, set to kick in from Oct. 1, comes on top of another levy on end-consumers designed to distribute the cost of replacing Russian gas to utilities like Uniper. However, to cushion the blow to consumers, Chancellor Olaf Scholz said sales tax on gas would be reduced to 7% from 19%.
SHANGHAI/BEIJING (Reuters) -China's banking regulator is scrutinising property loan portfolios of some local and foreign lenders to assess systemic risks, sources with knowledge of the matter said, as a crisis in the real estate sector worsens and weighs heavily on the economy. As part of their assessment, the China Banking and Insurance Regulatory Commission (CBIRC) is looking at banks' loan book exposure to developers to find out if those credit decisions were made according to the rules, one of the sources said. The aim is to measure risks to the financial system from the ongoing property sector turmoil in the world's second-largest economy, two of the sources said.
Sophie Flynn had a decade-long professional football career before becoming co-founder of global payments platform Transact365.
Thin tubes known as catheters are put into the body during various procedures. Medical add-ons called stabilization devices are used to firmly retain the catheter in place. There are expected to be significant growth opportunities for the catheter stabilization devices market as a result of the growing use of catheter stabilization devices in a variety of end-users, including home care settings, hospitals, ambulatory surgical centers, clinics, diagnostic centers, and others.New York, Aug. 19, 20
Medical Injection Molded Plastics Market Size, Share & Trends Analysis Report By Product (Polypropylene (PP), Acrylonitrile Butadiene Styrene (ABS)), By Application, By Region, And Segment Forecasts, 2022 - 2030New York, Aug. 19, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Medical Injection Molded Plastics Market Size, Share & Trends Analysis Report By Product,, By Application, By Region And Segment Forecasts, 2022 - 2030" - https://www.reportlinker.com/p063152
Russian oil firm Lukoil said on Thursday a decision by Norway's Aker Energy to postpone the submission of a development plan for its Pecan oilfield off Ghana over sanctions concerns had no lawful grounds. Aker Energy, controlled by Aker ASA, owns 50% of the deepwater block off Ghana where the Pecan field is located, while Lukoil holds 38%, Ghana National Petroleum Corp. has 10%, and Fueltrade 2%.
A rocker switch is a type of switch that, when pressed, moves back and forth by raising one end and depressing the other, much like a seesaw, as opposed to tripping or remaining depressed.New York, Aug. 18, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Rocker Switch Market Size, Share & Industry Trends Analysis Report By Switching Configuration, By Vertical, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06315052/?utm_source
Extreme ultraviolet lithography, or EUVL, is one of the leading next-generation lithography (NGL) techniques used to print lines as thin as 30 nm and create microprocessors and microchips.New York, Aug. 18, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Extreme Ultraviolet Lithography Systems Market Size, Share & Industry Trends Analysis Report By Equipment (Light Source, Mirrors, Masks), By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportli
The Evening Standard New Homes Awards celebrate the ambitious projects and new neighbourhoods being created in the capital and beyond.
The pound fell towards its lowest level this year amid predictions that Britain's borrowing bill would soar to £170bn and a string of dire economic data triggered a sterling sell-off.
Rising mortgage rates and deposits are making life tougher for aspiring homeowners. By Vicky Shaw.
Global Luxury Packaging Market Global Luxury Packaging Market Dublin, Aug. 19, 2022 (GLOBE NEWSWIRE) -- The "Luxury Packaging Market, By Material, By End-User Industry, By Region - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering. The process of luxury packaging involves design, research, development and manufacturing. This type of packaging enhances the image of a brand. According to research, consumers are more willing to p
The white goods retailer posted a £37m pre-tax loss for the year to March 31, falling from a £20m profit in the previous year.