Softing AG: Results in the first quarter of 2023 clearly exceeds expectations
April 18, 2023 at 10:57 am EDT
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EQS-Ad-hoc: Softing AG / Key word(s): Change in Forecast/Quarter Results
Softing AG: Results in the first quarter of 2023 clearly exceeds expectations
18-Apr-2023 / 16:56 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
In the first quarter of FY 2023, the Softing Group achieved sales and an operating result that far exceeded its own plans and expectations.
After a very good start into the new year, unexpectedly strong sales and margins in several of the Group's companies, particularly in March, contributed to the fact that the EBIT of EUR 1.5 million budgeted for the full fiscal year was already significantly exceeded in the first quarter. The improvement on the comparable quarter of the previous year amounted to several million euros.
This development was mainly driven by product deliveries from the large order backlog, which were manufactured thanks to unexpectedly rapid deliveries of previously unavailable electronic components. These products were delivered to customers before the end of March.
Nevertheless, the Executive Board continues to see the current fiscal year as burdened by significant economic and political risks. The extent to which the guidance for the full year 2023 will have to be increased is currently being examined.
The complete Quarterly Report 1/2023 can be downloaded as a pdf file from the Investor Relations page of the Softing homepage (www.softing.com) as of May 3, 2023.
Contact:
Dr. Wolfgang Trier
CEO
End of Inside Information
18-Apr-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com
Language:
English
Company:
Softing AG
Richard-Reitzner-Allee 6
85540 Haar
Germany
Phone:
+49 (0)89 456 56-333
Fax:
+49 (0)89 456 56-399
E-mail:
InvestorRelations@softing.com
Internet:
www.softing.com
ISIN:
DE0005178008
WKN:
517800
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
Softing AG is a Germany-based software and systems company. The Company operates through two segments: Industrial Automation and Automotive Electronics. The Industrial Automation segment provides tools and devices for signal and protocol analysis of industrial communication networks, gateways for linking fieldbuses to Ethernet-based communication systems and planning and administration systems, as well as interface cards, integration modules, chip solutions and communications software (stacks) for implementing bus links in systems and devices used in process and production automation. The Automotive Electronics segment offers diagnostic solutions for development, testing and production, editors for diagnostic data, diagnostic servers for the real-time processing of diagnostic data, as well as software interfaces for connecting diagnostic servers to production systems and editing and runtime systems for test sequences with connections to numerous third-party products.
SOFTING AG 
