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​​​​​​​OTI Greentech AG informs about preliminary figures for 2020

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DGAP-News: OTI Greentech AG / Key word(s): Preliminary Results
28.04.2021 / 16:10
The issuer is solely responsible for the content of this announcement.

OTI Greentech AG informs about preliminary figures for 2020

Berlin, 28 April 2021 - OTI Greentech AG (ISIN DE000A2TSL22), an international provider of innovative and sustainable chemical products and services for industry, listed on the Düsseldorf Stock Exchange, has achieved, according to preliminary, unconfirmed figures, in fiscal 2020, as planned, positive earnings before interest, taxes, depreciation and amortization (EBITDA). Improved operating results in the maritime business (UNIservice) and the ongoing strict cost control have played a decisive role to ensure that OTI reached the forecast earnings goal on a group level. Compared to the previous year, this means a further improvement of the result by around EUR 0.2 million.

The 2020 group sales revenues of around EUR 5.0 million are approximately 6.3% above prior year (2019: EUR 4.7 million). Despite the COVID-19 pandemic, OTI has hence been able to extend its sales revenues during the fiscal year. However, the forecast sales target of EUR 5.5 million was not fully met. During the second half-year, the sales revenues of the joint venture in the USA were lower than anticipated because the recovery of the relevant US industries from the COVID-19 pandemic was slower than predicted.

John C. Kisalus, CEO of OTI Greentech AG, explains: "In 2020 our focus was on the restoration of operating profitability. We have achieved this objective despite the pandemic. Together with the implementation of the balance sheet restructuring, we have laid the foundation for a profitable future. The current capital increase to finance the take-over of KMI Cleaning Solutions, Inc. will have a supporting effect, and turn 2021 into an outstanding year for the company, its employees and its shareholders. We are convinced of this."

The Annual Report of OTI Greentech AG will probably be published on 30 June 2021 and will then be available in the Investor Relations section under www.oti.ag.

About OTI Greentech AG

OTI Greentech's patented surfactant-based technology provides innovative sustainable and cost-efficient solutions for various industrial cleaning challenges, with potential for application in land remediation. Through its subsidiaries OTI Greentech Innovative Solutions and Uniservice Unisafe, OTI Greentech has more than 30 years of experience. OTI Greentech Innovative Solutions offers innovative, environmentally friendly products and solutions for the cleaning and decontamination of oil-based contaminants, and is the owner of the patented ECOSOLUT product line. Through Uniservice Unisafe a full range of products and services are provided to the global shipping industry in all major ports worldwide. Through its joint venture in the USA, the group offers innovative, sustainable and tailor-made solutions to its customers in land-based industrial cleaning. The OTI Greentech group currently has over 20 employees in Europe and the USA. The shares of OTI Greentech AG are listed on the Düsseldorf Stock Exchange (WKN A2TSL2). Corporate headquarters are located in Berlin, Germany.

Contact:

OTI Greentech AG
Dr. John C. Kisalus, CEO
info@oti.ag
Tel. +49 30 887 865 62
Friedrichstraβe 79
10117 Berlin

edicto GmbH
Dr. Sönke Knop
sknop@edicto.de
Tel. +49 69 905505-51
Eschersheimer Landstraße 42-44
60322 Frankfurt


28.04.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

OTI Greentech AG

Friedrichstraße 79

10117 Berlin

Germany

Phone:

+49 30 887 865 62

Fax:

+49 30 690 884 88

E-mail:

info@oti.ag

Internet:

www.oti.ag

ISIN:

DE000A2TSL22

WKN:

A2TSL2

Listed:

Regulated Unofficial Market in Dusseldorf

EQS News ID:

1190088


 

End of News

DGAP News Service

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