DGAP-News

Twintec AG announces preliminary results for 2015

DGAP-News: TWINTEC AG / Key word(s): Final Results
Twintec AG announces preliminary results for 2015

30.06.2016 / 20:14
The issuer is solely responsible for the content of this announcement.

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Twintec AG announces preliminary results for 2015

- EUR 26.8 million in revenue achieved in financial year 2015

- EBITDA adjusted for special effects of EUR -2.2 million

- Strategic realignment successfully continued by acquiring Kontec

- Forecast for 2016: consolidated revenues of approximately EUR 48 million
to EUR 52 million; EBITDA of between EUR 0.0 million and EUR 0.5 million

Königswinter, 30 June 2016 - Twintec AG (Securities Identification Number
A0LSAT), a leading provider of exhaust gas after-treatment products and
engine developer and part of TwintecBaumot Group, released its preliminary
financial results for 2015 today. Extensive organisational consolidation
work was incurred due to the Kontec GmbH acquisition. The Group's complete,
audited financial report will be published in end of July 2016. More
information about the Group and its financial figures are available on its
redesigned corporate website: http://www.twintec.de/.

Last year, the company saw itself confronted with challenging market
conditions as expected, yet managed to lay important stepping stones for a
successful business development in the future as part of its strategic
realignment. The successful acquisition of Kontec GmbH, one of the leading
German OEM development service providers for engines and exhaust after-
treatment, in October 2015 was an important milestone in the last financial
year.

In financial year 2015, the company generated revenues of EUR 26.8 million
(previous year: EUR 29.2 million), which were thus within the forecast
issued by its management. One main reason for the decline in sales was the
postponed introduction of the emissions standard Stage IIIB / FAZ IIIB
until 2018. This meant that millions in planned revenues in Turkey could no
longer be realized. In addition, the approval of TwintecBaumot Group's
technology in the United States also experienced delays. This is currently
in the final stage and is expected to be completed in September 2016,
however. In addition, the after-sales market in Europe was on the decline
as expected, but could not yet be compensated for by ambitious new markets
(Turkey, USA) or the Italian operations in the past financial year.
Earnings before interest, taxes, depreciation and amortization (EBITDA)