OTI Greentech AG (ISIN DE000A2TSL22), an international provider of innovative and sustainable chemicals and services for industrial applications listed on the Düsseldorf stock exchange, has met its earnings forecast for the year 2018 based on preliminary unaudited figures,.
Earnings before Interest, Taxes and Depreciation, EBITDA, amounted to EUR -0.45m. The projected result for 2018 was between EUR -0.3m and EUR -0.5m. OTI Greentech AG achieved the projected result, notwithstanding incurring extraordinary legal, audit and advisory expenses of approximately EUR 0.1m in connection with the restructuring of the group. Both operating companies of the group achieved a positive EBITDA result.
Group revenues in 2018 amounted to approximately EUR 4.4m, slightly below the forecast of at least EUR 4.5m. The 2018 numbers are not fully comparable to the 2017 numbers due to the repositioning of the group to focus on its core “innovative and sustainable chemicals” business and the sale of the Norwegian entities at the end of 2017.
The Annual Report of the company is due to be published by 31 May 2019 and will be available in the Investor Relations section at www.oti.ag.