EQS-Adhoc

Airopack Technology Group AG: Half year report 2016

EQS Group-Ad-hoc: Airopack Technology Group AG / Schlagwort(e):
Halbjahresergebnis
Airopack Technology Group AG: Half year report 2016

30.09.2016 / 18:00
Veröffentlichung einer Ad-hoc-Mitteilung gemäss Art. 53 KR.


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Publication of 2016 half-year report, business update and outlook

Baar, 30 September 2016 - Today Airopack Technology Group AG ("ATG") has
published its 2016 half-year report.

Half-year report
The consolidated net result in the first half of 2016 amounted to negative
EUR 16.2 million. As from the acquisition of the 50% stake in the Airolux
AG joint venture for an amount of EUR 25 million in May 2016, the losses of
Airolux AG and its subsidiaries are fully consolidated in the ATG result.
Furthermore, the consolidated result is strongly influenced by incidental
expenses of EUR 5.6 million incurred in connection with the acquisition of
the 50% stake in the Airolux AG joint venture, the financing arrangement
entered into with funds managed by affiliates of Apollo Global Management,
LLC (NYSE:APO) (the "Apollo Funds"), and the relocation of the
manufacturing facility from Switzerland to the Netherlands. The ongoing
expansion and strengthening of the organizational footprint in the
Netherlands will better position ATG for the roll-out of Airopack, but has
entailed one-time costs and coincided with a temporary production halt in
the second quarter. 2016 will be a transition year, but Group Management is
confident that the operational result of ATG will rapidly improve once this
transition has been completed and ATG can unlock its growth potential.

As at 30 June 2016, the consolidated net equity amounted to negative EUR
15.2 million. On 7 July 2016, a capital increase of approx. EUR 42 million
was completed. The pro forma shareholders' equity after completion amounted
to approx. EUR 27 million.

The 2016 half-year report is available for download on the ATG website
www.airopackgroup.com under the link - investor relations - reports
(http://www.airopackgroup.com/en/investor-relations/reports/).

Business update
Following the successful acquisition of the 50% stake in the Airolux AG
joint venture, ATG decided to close its manufacturing facility in
Switzerland and transfer manufacturing to the Netherlands, near its global
headquarters in Waalwijk. This move will reduce manufacturing and
logistical costs and improve the organizational footprint. The shut-down of
the manufacturing facility in Switzerland has been carefully managed in