OTI Greentech AG (ISIN DE000A2TSL22), an international provider of innovative and sustainable chemical products and services for industry, listed on the Düsseldorf Stock Exchange, achieved a slightly negative consolidated EBITDA of minus EUR 280 thousand in 2022 according to preliminary, unaudited figures. A clearly positive Group EBITDA was expected. As expected, sales were expanded significantly to approximately EUR 16.0 million. Due to the significantly higher audit effort for the US subsidiary KMI Cleaning Solutions (‘KMI’) acquired in 2021, the Management Board and Supervisory Board have decided to publish the annual and consolidated financial statements for the fiscal year 2022 now probably on August 31, 2023. The Annual General Meeting for fiscal year 2022 is scheduled for October 19, 2023. There are no operational reasons for the postponement.
For the financial year 2023, OTI Greentech AG expects sales of EUR 18.5 to 19.5 million (+ 16 % to 23 %) and an improvement in operating EBITDA by approximately EUR 1.0 million to EUR 1.1 to 1.3 million and an consolidated Group-EBITDA of EUR 400 – 600 thousand.
OTI Greentech AG has made large investments in a new industrial division of KMI in 2022, which were fully financed from current cash flow. The decision to invest operating income in a growth segment took priority for the company over the originally planned conversion of the accounting to IFRS. This will therefore be postponed by 12 months.
OTI Greentech AG has made a good start to the 2023 financial year. In particular, the maritime segment is showing clear signs of recovery; here, sales in Q1 2023 were around EUR 1.40 million, 25% above sales in Q1 2022 and well above internal planning. At KMI, the new division is showing good development in terms of both sales and earnings. In addition, the established chemicals business also improved significantly. In Q1, KMI’s sales were around $3.41 million – 16% above the same quarter last year at.
The dates are published in the financial calendar of OTI Greentech AG at www.oti.ag/investor-relations/.