OTI Greentech AG publishes preliminary figures for 2019

OTI Greentech AG publishes preliminary figures for 2019

Berlin, 26 May 2020 - OTI Greentech AG (ISIN DE000A2TSL22), an international provider of innovative and sustainable chemicals and services for industry listed on the Düsseldorf stock exchange, announces its preliminary, unconfirmed financial figures showing that it improved both revenues and earnings while slightly missing its guidance for the fiscal year.

At around EUR 4.6 million, consolidated revenues in 2019 were higher than the previous year's figure of EUR 4.2 million, but below forecast revenues of at least EUR 5.0 million. Specifically, the planned measures to increase revenues at our joint venture in the USA could not yet be fully implemented in the second half of 2019, resulting in lower than planned income from licences.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to around EUR -0.3 million. As expected, this represents an improvement compared with the prior-year figure of EUR -0.45 million. However, OTI Greentech AG did not quite meet its target of generating a slightly positive EBITDA for 2019. The main reasons for this are the extraordinary costs in connection with the restructuring and the capital measurers implemented in 2019.

Due to the COVID-19 pandemic, the company is experiencing considerable delays particularly in the preparation of the annual financial statements of its subsidiary Uniservice Unisafe Srl, based in Genoa, Italy, which could lead to a significant delay in the preparation of the consolidated financial statements of OTI Greentech AG. As a precautionary measure, publication of the annual report will therefore be postponed to 30 July 2020 at the latest.

The Annual General Meeting for fiscal year 2019 is scheduled to take place as planned on 11 September 2020, but will probably be held as a virtual General Meeting.
 

About OTI Greentech AG

OTI Greentech's patented surfactant based technology provides innovative sustainable and cost-efficient solutions for various industrial cleaning challenges, with potential for application in land remediation. Through its subsidiaries OTI Greentech Innovative Solutions and Uniservice Unisafe, OTI Greentech has more than 30 years of experience. OTI Greentech Innovative Solutions offers innovative, environmentally friendly products and solutions for the cleaning and decontamination of oil-based contaminants, and is the owner of the patented ECOSOLUT product line. Through Uniservice Unisafe a full range of products and services are provided to the global shipping industry in all major ports worldwide. Through its joint venture in the USA, the group offers innovative, sustainable and tailor-made solutions to its customers in land-based industrial cleaning. The OTI Greentech group currently has over 20 employees in Europe and the USA. The shares of OTI Greentech AG are listed on the over-the-counter markets of the Düsseldorf Stock Exchange (WKN A2TSL2). Corporate headquarters are located in Berlin, Germany.
 

Contact

OTI Greentech AG
Dr. John C. Kisalus, CEO
info@oti.ag
Tel. +49 30 887 865 62
Friedrichstraβe 79
10117 Berlin

edicto GmbH
Axel Mühlhaus, Dr. Sönke Knop
sknop@edicto.de
Tel. +49 69 905505-52
Eschersheimer Landstraße 42-44
60322 Frankfurt