EQS-News

Ekotechnika AG files requests to delist from the stock exchange and gives forecast for the 2022/2023 financial year

EQS-News: Ekotechnika AG / Key word(s): Delisting/Forecast Ekotechnika AG files requests to delist from the stock exchange and gives forecast for the 2022/2023 financial year 27.09.2023 / 17:20 CET/CEST The issuer is solely responsible for the content of this announcement. Ekotechnika AG files requests to delist from the stock exchange and gives forecast for the 2022/2023 financial year

Walldorf, 27 September 2023 – The Executive Board of Ekotechnika AG, with the approval of the Supervisory Board, today decided to withdraw the inclusion of the shares (ISIN: DE000A161234) in the Primary Market (“Primärmarkt”) of the Düsseldorf Stock Exchange and to apply for a full delisting of its shares. The inclusion in the Primary Market of the Düsseldorf Stock Exchange is thus expected to end on 31 October 2023, and the subsequent inclusion of the shares in the Open Market of the Düsseldorf Stock Exchange is expected to end on 30 April 2024.

The main reason for this decision is the ongoing conflict in Ukraine and the resulting impact on the Group. Against this background, the stock exchange listing in Germany offers no benefit to the company at present and in the view of the Executive Board for the foreseeable future.

In addition, the follow-up obligations under stock exchange regulations and capital market law resulting from the listing involve considerable financial and administrative effort, and Ekotechnika shares are hardly traded on the stock exchanges. These reasons have led the Executive Board to apply for the delisting of the company’s shares.

Stefan Dürr, CEO of Ekotechnika AG: "Our operating business has experienced massive changes and downturns within a very short period of time, especially due to the supply stop of foreign agricultural machinery manufacturers and the significant drop in demand. Therefore, we have decided to delist for cost reasons, but also due to the hardly existing trading volumes in the Ekotechnika share."

For the financial year ending 30 September, the management expects revenues in a range of EUR 175 million to EUR 185 million (revenue 2021/2022: EUR 237.5 million) and EBIT of EUR 15 million to EUR 20 million (2021/2022 EBIT: EUR 35.9 million).