EQS-Ad-hoc: OTI Greentech AG / Key word(s): Miscellaneous Publication of inside information pursuant to Article 17 MAR
Report of Loss according to §92 1 AktG: Individual financial statements 2023 of OTI Greentech AG burdened by amortization of goodwill. Equity falls below 50% of the nominal amount. Berlin, July 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 announced with the approval of the separate financial statements (listed parent company of the OTI Greentech AG Group) that impairments on financial assets in the amount of EUR 3.4 million are necessary for the 2023 financial year. The write-downs relate to the subsidiary KMI Cleaning Solutions in the USA at around EUR 2.6 million and the Swiss subsidiary OTI Innovative Solutions at around EUR 850 thousand. On the other hand, the subsidiary UNIservice/UNIsafe in Italy was written up by EUR 1.0 million. Overall, this resulted in an impairment of EUR 2.4 million, which had an impact on the balance sheet but did not affect liquidity. As a result of this devaluation, the company's equity now amounts to EUR 2.47 million (previous year: EUR 5.18 million) and is therefore less than 50 % of the nominal amount. The company has scheduled the Annual General Meeting for the 2023 financial year for September 5, 2024 and will report the loss amounting to half of the share capital at this meeting. The invitation to this Annual General Meeting will be sent out in good time. Detailed information on the development of the individual company's equity will then be provided at this Annual General Meeting. The individual financial statements for 2023 are published on the company's website in the Investor Relations section (www.oti.ag/investor-relations).
End of Inside Information Information and Explanation of the Issuer to this announcement: Explanatory part The financial statements presented by the auditors included the write-downs described above, which resulted on the one hand from lower than previously expected earnings of the subsidiaries and on the other hand from higher interest and risk premiums. On the other hand, the positive development at UNIservice showed that previous devaluations can also be reversed. The Management Board and Supervisory Board are confident that this can also be achieved with the now devalued values of the US and Swiss subsidiaries.
Contact: OTI Greentech AG Dr. John C. Kisalus, CEO info@oti.ag Phone +49 30 887 865 62 Friedrichstrasse 79 10117 Berlin
edicto GmbH Dr. Sönke Knop sknop@edicto.de Phone +49 69 905505-51 Eschersheimer Landstr. 42-44 60322 Frankfurt
17-Jul-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: | 1948285 |
End of Announcement | EQS News Service |
|
1948285 17-Jul-2024 CET/CEST
The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.
The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.
If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.
For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.
1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.