Fortec Elektronic AG

ots Ad hoc-Service: Fortec Elektronik Sales 1999/2000 plus 39%, Profit (EBIT) growth of 78% doubles sales growth, Semiconductor Business Profit explodes by more than 2000%

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    Aschheim b. München (ots Ad hoc-Service) - Fortec AG, Aschheim near Munich, in Fiscal Year 1999/2000 (ending June 30, 2000) has once more exceeded planned figures. According to the approved balance- sheet, the high-tech-electronic company could increase sales by 39% to 45,127 Mio.DM (Euro 23,073 Mio.). EBIT growth, reaching 78%, was twice as strong as the solid increase in sales and pushed die EBIT from 1,968 Mio.DM to 3,513 Mio.DM (Euro 1,796 Mio.). Even stronger was the growth in earnings from ordinary activities (EBT), showing an increase by 86% from 2.073 to 3,863 Mio.DM (Euro 1,975 Mio.).

    The increase was supported by all fields of business. Power supplies and semiconductors were clearly above previous year and plan, displays and embedded computers were on plan. A substantial part of the strongly overproportional profit development is contributed by the chip business. With a sales increase of 64% to 7 Mio. DM the EBIT contribution exploded by more than 2000% to 0,777 Mio.DM.

    For the current FY 2000/2001, Fortec is expecting growth rates to continue to be above average.

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