PTA-IRE

OpenLimit Holding AG: Group Interim Report during the first half of 2015

Publication of progress report according to article 37x WpHG

Baar (Switzerland) (pta010/19.05.2015/07:32) - [ for the PDF version of the Interim Report, please click on this link: https://www.openlimit.com/en/about-openlimit/investor-relations-eng/publications.html ]

* Key figures confirm the upward trend - Turnover increases by 18% to EUR 1.36 million over the first three months of 2015 (comparison value for the first quarter of 2014: EUR 1.16 million) - Operating expense increases by 3% to EUR 1.78 million in the first quarter of 2015 compared with the previous year - Compared with the first quarter of the previous year, the operating loss (EBIT) was reduced from EUR -0.46 million to EUR -0.36 million (-22%) while the net loss was reduced from EUR -0.55 million to EUR -0.51 million (-7%)

* As of the reporting date of 31 March, the company's net cash and cash equivalents amounted to EUR 0.23 million (31/12/2014: EUR 0.97 million), while the value of accounts receivable increased from EUR 5.64 million to EUR 5.98 million in the same period. After the reporting date, incoming payments helped to reduce accounts receivable significantly

* Smart Meter Gateway rollout scheduled for 1 January 2017 by the BMWi (Federal Ministry for Economic Affairs and Energy)

* Impressive appearance by OpenLimit and Power Plus Communications AG at the E-world trade fair: 19 partners present the collaboratively developed Smart Meter Gateway

* New service contracts in the fields of energy and consumer electronics reinforce the goal of developing the consulting area and highlight the growing importance of IT security in new markets

* Several large orders mean the company has a high workload

* The signature market continues to enjoy modest growth and OpenLimit is gaining new customers

* Successful conclusion of the financing round via convertible loans as well as interim financing for working capital

General developments

(Baar, Switzerland, 19 May 2015) For the full fiscal year 2014 OpenLimit generated turnover of EUR 8.1 million in 2014 as well as achieving a positive net result for the first time. The positive trend was continued in the first quarter of 2015 with 18% growth in turnover (Q1 2015: EUR 1.36 million) compared with the prior period. Against the backdrop that OpenLimit historically generates a large share of its revenues in the second half of the year (especially in the fourth quarter), the management is satisfied with OpenLimit's performance during the period, with the latter meeting expectations. A major part of the increase in turnover resulted from reaching milestones in ongoing development projects, with a smaller percentage being accounted for by new customers. The old challenges in the areas of resource utilization and working capital management were satisfactorily resolved during the period through the hiring of third-party service providers and interim financing of outstanding accounts receivable. However, these issues remain challenging. As of the reporting date of 31 March 2015, 69 people (including management) were employed by OpenLimit (same period of previous year: 64 employees). Another significant event was the successful re-placing of a convertible loan due at the end of January. This replacement was concluded at the same conditions and with a maturity date of 31 January 2016 at the earliest.