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EQS-Ad-hoc: OTI Greentech AG / Key word(s): Quarter Results/Miscellaneous Publication of inside information pursuant to Article 17 MAR OTI Greentech AG gets off to a positive start in 2024 Berlin, May 17, 2024 - OTI Greentech AG (ISIN DE000A2TSL22), an international provider of innovative and sustainable chemical products and services for industry, listed on the Düsseldorf Stock Exchange, has achieved a significant improvement in earnings in the first months of the 2024 financial year. While the operating result, EBIT, was still slightly negative at EUR -9 thousand in the first quarter of 2023, a positive operating EBIT of EUR 115 thousand was achieved in the first quarter of 2024. Both operating subsidiaries - KMI Cleaning Solutions in the USA and UNIservice Unisafe in Italy - contributed to this positive development. The results for the first months of 2024 indicate a significant improvement in operating profitability in the current year.
End of Inside Information Information and Explanation of the Issuer to this announcement: Explanatory part: This improvement in earnings was achieved through further operational cost optimization on the one hand and an improvement in the gross margin on the other. Operating revenue in the first quarter of 2024 was 11% lower than in the same quarter of the previous year. The main reason for the decline in revenue is a contract amendment with KMI's main customer. In anticipation of this potential change, KMI has already successfully focused on high-margin specialty products. In Italy, UNIservice continued to expand its Fire, Rescue & Safty (FRS) security business. OTI Greentech AG continues to pursue its strict policy of reducing administrative costs and improving services for the operating units. "The trend continues to point upwards. Our focus on profitability and operational performance is now delivering initial results. We are pleased with this development and see further increasing profitability in our operating subsidiaries. More intensive cooperation among these subsidiaries opens up a broader range of applications for our products and services," explains Dr. John C. Kisalus, CEO of OTI Greentech AG. OTI Greentech expects to publish the final figures for the 2023 financial year, together with the 2023 annual report, on June 28, 2024 on the website www.oti.ag. Contact: OTI Greentech AG
17-May-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | OTI Greentech AG |
| Friedrichstraße 79 | |
| 10117 Berlin | |
| Germany | |
| Phone: | +49 30 887 865 62 |
| Fax: | +49 30 690 884 88 |
| E-mail: | info@oti.ag |
| Internet: | www.oti.ag |
| ISIN: | DE000A2TSL22 |
| WKN: | A2TSL2 |
| Listed: | Regulated Unofficial Market in Dusseldorf |
| EQS News ID: | 1906033 |
| End of Announcement | EQS News Service |
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1906033 17-May-2024 CET/CEST
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