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.