Einhell Germany AG: Business development FY 2021

Business development FY 2021

Einhell Germany AG (ISIN: DE 0005654933) which is listed under Prime Standard of Deutsche Börse AG announces the following:

For the period January to March 2021, the Einhell Group generated revenues of € 229.6 million in comparison with the previous year of € 154.9 million. The growth in sales was achieved in all of the Group's relevant markets. Significant sales increases were especially achieved by our cordless Power X-Change devices.

According to preliminary data the pre-tax yield amounts to around 7.5% (previous year: 5.2%).

Despite the very positive business development in the first three month of financial year 2021 the board of directors will not improve its forecast. A crucial factor are the current challenges resulting from a significant increase in freight rates due to shortage of freight resources. Prices for sea freight to the destination ports relevant for Einhell have multiplied compared to 2020. At the same time, raw material prices have risen significantly. Both factors will have an impact on the performance in 2021.

Landau/Isar, 21 April 2021

The Board of Directors