DGAP-News

Clere AG: publishes 2016 Annual Report

DGAP-News: Clere AG / Key word(s): Final Results Clere AG: publishes 2016 Annual Report 30.03.2017 / 07:45 The issuer is solely responsible for the content of this announcement. CLERE AG publishes 2016 Annual Report Berlin, 30 March 2017 - CLERE AG published its 2016 Annual Report today for the short fiscal year 2016 from 1 July 2016 to 31 December 2016. The short fiscal year was characterised by a realignment of business operations to renewable energies and SME financing; initial transactions in the new renewable energies business segment have been concluded.

Group result positively influenced by one-time effects

The new division did not yet participate in the annual consolidated net income totalling EUR 4.0 million; the positive result was mainly achieved by clarifying various tax-related aspects and the associated reversal of provisions in the Group.

In the reporting period, earnings before interest and taxes (EBIT) amounted to EUR -3.0 million, compared to EUR -6.7 million for the previous year. This was mainly due to the short fiscal year 2016 and other operating expenses. The EBIT mainly consisted of outlays for legal and advisory services, as well as expenses for the company's restructuring, the change in business location to Berlin and the establishment of a new team.

Because of the reversal of tax provisions, CLERE generated an annual net profit of EUR 4.0 million (previous year: EUR 32.8 million). Earnings per share thus amounted to EUR 0.67 (previous year: EUR 5.56), based on a total volume of 5,889,063 shares.

The increase in equity to EUR 148.5 million (previous year: EUR 143.8 million) mainly resulted from the annual profit for the short fiscal year 2016. The equity ratio rose to 91.8% (previous year: 66.4%) due to payments from capital reduction to the shareholders of CLERE AG in October 2016.

On the balance sheet date, the Group had cash and cash equivalents of EUR 139.6 million. Consequently, the company has sufficient funds available for its business operations.