OTI Greentech AG (ISIN DE000A2TSL22), an international provider of innovative and sustainable chemical products and services for industry, listed on the Düsseldorf Stock Exchange, generated sales of EUR 17.65 million in 2023 following the first consolidation of its preliminary business figures. Sales were thus slightly above the forecast of around EUR 17.3 million.
According to preliminary calculations, Group EBITDA is expected to be slightly negative. The forecast assumed a positive EBITDA for 2023. The operating EBITDA of the subsidiaries was clearly positive and amounted to around EUR 0.5 million, excluding Group allocations.
The Group’s negative EBITDA is due to the set-up costs of the KMI Industrial Services Division, which were significantly reduced in the course of the second half of 2023. However, this was not enough to fully offset the losses of the first half of the year.
Explanatory section:
The pleasing sales performance was driven by the maritime division, Uniservice, and by KMI Cleaning Solutions, USA. With sales of EUR 5.7 million at Uniservice and USD 12.9 million at KMI Cleaning Solutions, both divisions set new sales records.
OTI Greentech is expected to publish the final figures for the 2023 financial year, together with the 2023 Annual Report, on the website www.oti.ag on June 28, 2024.