OTI GREENTECH AG (FRA:DE000A0H) EQS-Adhoc: OTI Greentech AG: 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.
Transparency directive : regulatory news
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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 |
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1948285 17-Jul-2024 CET/CEST
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