Altech Advanced Materials AG (FRA: AMA) has closed its first half of the 2024 financial year (1 January - 30 June 2024) with an expected half-year loss (individual financial statements according to HGB) of around EUR -818 thousand (comparative period: around EUR -992 thousand).

The preliminary half-year result includes sales revenue of around EUR 54 thousand (comparative period: EUR 23 thousand), other operating income of around EUR 191 thousand (comparative period: EUR 0 thousand), personnel expenses of around EUR 388 thousand (comparative period: EUR 167 thousand) and other operating expenses of around EUR 649 thousand (comparative period: around EUR 765 thousand). The financial result totalled around EUR -26 thousand (comparative period: around EUR -83 thousand).

Other operating income consists of income from the complete reversal of a provision for onerous contracts (EUR 191 thousand), which could be reversed in full due to the share price of Altech Advanced Materials AG being EUR 4.88 per share as at 30 June 2024. The provision for onerous contracts is used to be able to service the options issued in the 2023 financial year as part of the issue of the convertible bond, for which a cash settlement -  dependent on the share price performance - is planned.

Personnel expenses increased by EUR 221 thousand compared to the previous period, mainly due to the issue of virtual options under the AAM virtual option programme 2023 ("VOP 2023"), which led to further personnel expenses of around EUR 183 thousand (comparative period: EUR 0 thousand).

Other operating expenses mainly consist of costs for the VOP 2023 for the employees of the two investments (EUR 291 thousand), costs for capital market notifications and communication (EUR 184 thousand), legal and consulting costs (EUR 54 thousand), Supervisory Board remuneration (EUR 43 thousand) and costs for preparing and auditing the financial statements (EUR 25 thousand).

The preliminary balance sheet as at 30 June 2024 in accordance with the German Commercial Code (HGB) shows equity of around EUR 7,870 thousand (31 December 2023: EUR 5,039 thousand).

In the forecast report of the last annual financial statements for 2024, the Executive Board assumed a loss of around EUR 1.6 million to EUR 2.1 million. The Executive Board is currently maintaining this forecast.

The aforementioned preliminary result is based on the preliminary assessment of the first half of the 2024 financial year carried out by the Executive Board on 9 July 2024. The figures stated in this announcement are subject to the final preparation of the half-year financial statements.

The Executive Board


Explanatory part

About Altech Advanced Materials AG

Altech Advanced Materials AG (ISIN: DE000A31C3Y4), based in Frankfurt am Main, is a holding company listed on the regulated market of the Frankfurt Stock Exchange. The company's aim is to participate in the market for solid-state batteries for stationary battery use with CERENERGY.

Another focus is on lithium-ion batteries. An innovative anode material based on high-purity aluminium oxide (HPA) - Silumina Anodes™ - is intended to significantly increase the performance of this battery for electromobility.

Further information at: www.altechadvancedmaterials.com

Altech Advanced Materials AG
Executive Board: Iggy Tan, Uwe Ahrens, Hansjörg Plaggemars
Ziegelhäuser Landstraße 3
69120 Heidelberg
info@altechadvancedmaterials.com
Tel: + 49 6221 649 2482
www.altechadvancedmaterials.com

Press contact
Ralf Droz / Doron Kaufmann, edicto GmbH
Tel: +49 (0) 69 905505-54
e-mail: AltechAdvancedMaterials@edicto.de