Frankfurt (pta027/08.07.2020/12:30) - Altech Advanced Materials AG ("AAM / the Company") (FRA: AMA1) has closed its first half year of business 2020 with an expected net loss (individual financial statements according to HGB) of TEUR 382 (reference period / RP: TEUR -102).
The preliminary result is mainly the result of other operating income of TEUR 20 (RP: TEUR 81), which mainly consists of income from the disposal of securities of TEUR 20, personnel expenses of TEUR 74 (RP: TEUR 66 thousand) and other operating expenses of TEUR 324 (RP: TEUR 46). The financial result was TEUR -4 (RP: TEUR -97).
Other operating expenses mainly consist of costs of the capital increase, including costs for the preparation of a securities prospectus of TEUR 104, investor relations costs of TEUR 54, charges passed on for a member of the Management Board since February 2020 from Altech Chemicals Ltd. of TEUR 50, Supervisory Board compensation of TEUR 44, legal and consulting fees of TEUR 43 and costs of the financial statements and audit of TEUR 12.
Balance sheet as of June 30, 2020 in accordance with HGB will show a total equity of around TEUR 104 (December 31, 2019: TEUR 486).
In the forecast report of the last annual financial statements for the 2020 financial year, the Management Board assumed a net loss of around TEUR 567 without taking into account other operating income. The previous year's forecast for the first half of 2020 was exceeded due to the high additional costs for the preparation of the renewed capital increase including the new securities prospectus and accompanying measures. In the first half of the year, monthly costs of around TEUR 66 were incurred compared to expected average costs of around TEUR 47 per month. These were offset by unplanned income from capital investments of TEUR 20.
Based on the current organizational and personnel structure, average monthly costs of around TEUR 36 are expected for the second half of 2020. Thus, a net loss of around TEUR 600 is currently expected for 2020. Annual costs of TEUR 460 are expected for the following years. The Management Board currently expects that the company will receive additional liquid funds from the capital increase with subscription rights in the amount of approximately EUR 738 thousand through the issue of 671,037 no-par value shares, which is currently being applied for entry in the commercial register, and through the planned private placement in the second half of 2020. For the private placement, a placement agent agreement was concluded with an international Swiss bank, which will assist in the placement. The private placement is now scheduled to be completed by September 2020. No statements can be made at present about the placement volume.
The aforementioned preliminary results are based on the preliminary assessment of the first half of 2020 made by the Management Board on 8 July 2020. The figures stated in this release are subject to the final preparation of the half-year financial statements.
The Management Board(end)
|emitter:||Altech Advanced Materials AG|
Ziegelhäuser Landstraße 3
|contact person:||Hansjörg Plaggemars|
|phone:||+49 6221 64924-0|
|stock exchanges:||regulated market in Frankfurt; free market in Dusseldorf; open market in Berlin|