- OTI Greentech confirms preliminary 2015 figures: Group sales of EUR 6.3 million in the consolidation period (annualized: EUR 8.7 million), negative EBITDA of EUR -2.2 million
- Preliminary figures for Q1 2016: sales of EUR 2.2 million and EBITDA of EUR -0.3 million
- 2016 guidance: doubling of sales versus 2015 to at least EUR 16 million and significant improvement of operating result (EBITDA)
In the fiscal year ended, OTI Greentech AG focused on the integration of the new Group entities, the development of new areas of business, the securing of funds and the reduction of its cost base. As of
31 December 2015, the Group’s equity ratio was 59.71 percent. The Group consolidated loss after minority interests (including EUR 1.7 million in non-cash amortization of goodwill pursuant to German commercial law accounting rules) amounts to EUR 4.2 million.
In the first quarter of 2016, the Group posted sales of EUR 2.2 million and EBITDA of EUR -0.3 million according to preliminary calculations. The Norwegian subsidiaries reported sales of around EUR 2 million and at EUR -0.05 million almost broke even in terms of EBITDA. The measures initiated in
2015 aimed at integration and cost reduction and the development of new areas of business have already shown their effects at the start of the new fiscal year.
The reduction of minority interests in the Group should also have a positive effect on earnings. As of the end of 2015, the Company had acquired the remaining 49% interest in Visionaire Energy AS and the remaining 44.8% interest in VTT Maritime AS. VTT Maritime and Rada Engineering & Consulting
in particular are in an excellent position to benefit disproportionally from upcoming projects in 2016. VTT Maritime has established itself as a provider of complex maritime engineering services and as an expert for the safe relocation of large installations and objects at sea.
The OTI Greentech AG Group was established in April 2015 from the takeover of OTI Greentech Group AG, Zug, Switzerland, by former IP Strategy AG, Bremen. Comparative figures for 2014 are therefore not available. With its Group companies VTT Maritime, Rada Engineering & Consulting, OTI Chemicals and Uniservice Global, OTI Greentech AG has created a clear Group structure to enable long-term growth in its core areas of business.
After a positive start to the current fiscal year with a well filled order book, OTI Greentech is very confident that it will be able to improve its operating result (EBITDA) significantly in 2016. The
Company expects a positive EBITDA result and a doubling sales to at least EUR 16 million compared with 2015.