Baumot Group AG
- WKN: A2DAM1
- ISIN: DE000A2DAM11
- Land: Deutschland
Nachricht vom 28.09.2015 | 11:21
TWINTEC AG: Strategical Milestone: Twintec AG grows to reach new dimension by acquiring Kontec
DGAP-News: TWINTEC AG / Key word(s): Acquisition
Strategical Milestone: Twintec AG grows to reach new dimension by acquiring Kontec
- Substantial enhancement of Twintec's strategic positioning in the OEM market
- Kontec GmbH is one of Germany's top providers of OEM development services for engines and exhaust gas after-treatment
- In 2016, doubling of revenue and EBITDA over 2014 figures expected
- Purchase price of 7 million shares for complete acquisition
Königswinter, 28 September 2015
Twintec AG (WKN A0LSAT), a leading provider of exhaust gas after-treatment products, today announced the acquisition of Kontec GmbH effective 30 September 2015. The binding purchase agreement was signed, and the transaction is expected to be completed early in the fourth quarter of 2015. The economic transfer will take place effective 1 October 2015. The acquisition is a significant strategic and economic milestone for Twintec in connection with its envisaged growth in the OEM business over the next years. Kontec GmbH is one of Germany's top providers of OEM development services for engines and exhaust gas after-treatment. At Twintec, the acquisition will result in a considerable expansion of its OEM business, which is expected to see a surge in growth in the next few years. Twintec expects the acquisition to boost revenue to EUR 55 to 60 million and push up EBITDA to around EUR 3.5 million in the next financial year. Both figures would approximately represent a doubling of these key financials compared with the 2014 financial year. The purchase price for the complete acquisition of Kontec amounts to 7 million shares created by way of a capital increase in return for contributions in kind. Kontec founder and managing director Klaus Bänsch will be appointed to the Management Board of Twintec AG effective 1 October 2015 and assume the position of Chief Technical Officer (CTO). In return Armin Rosbach will resign as Chief Financial Officer (CFO).
Kontec develops, designs, simulates and validates engines and exhaust gas after-treatment systems for leading German OEMs. In the past, the company has repeatedly implemented successful projects for customers together with Twintec. After joining forces with Twintec, Kontec is now in the position to market complete exhaust gas after-treatment systems, such as Twintec's BNOx system for reducing nitrogen oxide emissions in the low temperature range, to OEM customers. Twintec/Kontec will therefore become the top supplier of and service provider for OEM exhaust gas after-treatment systems. With more than 450 highly qualified employees in Europe, the company now has the critical mass for long-term success in the OEM business. In 2014, Kontec GmbH generated revenue of EUR 34 million and EBITDA of EUR 1.7 million. The acquisition puts Twintec in a perfect position to benefit from the expected surge in growth in the OEM business stemming from the stricter laws taking effect starting in 2018. Twintec has already signed agreements with several renowned manufacturers that are expected to boost revenue substantially in the coming years. In addition, the Twintec technology is currently in the development phase at several manufacturers prior to a release for series production.
Besides strategic synergies, the acquisition unlocks considerable potential on the cost side as well. From 2016 onward, costs are expected to be reduced by around EUR 1.5 million per year. Combining research and development efforts will result in capital expenditure savings of some EUR 0.5 million per year. Taken together, this is expected to increase free cash flow by EUR 2.0 million. Starting in 2017, the additional business opportunities provided by the acquisition will also generate further momentum for growth. In addition to achieving organic growth, Twintec also plans to expand further by making acquisitions. The company has a good track record in this regard. Baumot AG, which was acquired in 2014, has contributed to increasing revenue, lowering costs, expanding the company's technology portfolio and improving access to international markets. Swiss-based Baumot AG was integrated into the Twintec Group very successfully in 2014.
Twintec is a leading provider of products for the after-treatment of exhaust gases, such as highly efficient SCR systems for low temperature applications reducing nitrogen oxide emissions as well as active and passive diesel particulate filters, both for fitting at manufacturers and for retrofitting on existing vehicles. The solutions are used for various applications, including in agricultural machines, construction equipment, light and heavy-duty utility vehicles and passenger cars. Twintec AG is a listed holding company with four subsidiaries and over 450 highly qualified employees. Kontec GmbH is together with its subsidiary DIF (Die Ideenfabrik) GmbH the OEM development arm of the company, providing top OEMs with development, design, simulation and validation services for low-emissions engines and exhaust gas after-treatment systems. Through its subsidiary Interkat GmbH, Twintec also provides catalytic coating services for various other industrial applications. The subsidiaries Baumot AG and Twintec Technologie GmbH serve the emissions technology market with retrofitting and aftermarket solutions along with related services.
Twintec AG's shares are listed in the Entry Standard segment of the Frankfurt Stock Exchange.
Contact for enquiries:
2015-09-28 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
|Eduard-Rhein-Straße 21 - 23|
|Phone:||+49 (0)2244 . 91 80 57|
|Fax:||+49 (0)2244 . 91 83 819|
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart; Open Market (Entry Standard) in Frankfurt|
|End of News||DGAP News Service|
Baumot Group AG: BNOx System ist die Lösung zu ...
Baumot Group AG informiert über Vollzug der Ka ...
Baumot Group AG: Planmäßige Eröffnung der inso ...
Baumot Group AG: Dr. Ingo Zemke als Aufsichtsr ...
TwintecBaumot Group: Umfirmierung und Kapitalh ...
GBC im Fokus
23. MKK – Münchner Kapitalmarkt Konferenz
Für: Institutionelle Investoren & Presse
Wann: 26. & 27. April 2017, 9 - 17 Uhr
Wo: The Charles Hotel - Rocco Forte Hotels, München
GBC im Fokus
Neovacs S.A.: Kursziel auf 3,30 € angehoben
In den letzten Monaten hatte die Neovacs S.A. einen positiven Newsflow. Im Vordergrund steht die Vertriebspartnerschaft für den chinesischen Markt, wodurch sich bis nach dem ersten Vermarktungsjahr Gesamterträge von bis zu 65 Mio. € ergeben können. Zudem verläuft der klinische Zulassungsprozess des IFNα-Kinoid zur Behandlung von SLE (Systemischer Lupus) und Dermatomyositis planmäßig. Wir haben in unsere Bewertung aktualisiert und ein Kursziel von 3,30 € je Aktie (bisher: 2,90 €) ermittelt. Das Rating lautet weiter KAUFEN.
Der AKTIONÄR News
26. April 16:19 Roche erneut mit starken Studiendaten – Jahreshoch in Reichweite
26. April 14:52 Bayer: Quartalszahlen im Schatten der Hauptversammlung
26. April 14:37 ThyssenKrupp: Fiasko beim US-Rivalen – wie geht es jetzt weiter?
News im Fokus
Deutsche Börse AG: Vorstand plant Durchführung eines Aktienrückkaufprogramms mit einem Volumen von rund 200 Mio. EUR im zweiten Halbjahr 2017
26. April 2017, 20:25
Q1 Results 2017
10. Mai 2017
Original-Research: Valneva SE (von First Berlin Equity Research GmbH): BUY Valneva SE
26. April 2017