DGAP-News: Clere AG publishes report on the third quarter of 2015 / 2016
12.05.2016
DGAP-News: Clere AG / Key word(s): Interim Report/9-month figures
Clere AG publishes report on the third quarter of 2015 / 2016
12.05.2016 / 07:31
The issuer is solely responsible for the content of this announcement.
—————————————————————————
Bad Oeynhausen, 12 May 2016 – Today, Clere AG published its report on the
third quarter of 2015 / 2016 for the period 1 July 2015 until 31 March
2016. During the first nine months, the continuing operations were
characterized by administration and consultancy costs in connection with
the transaction and the ongoing legal disputes. The disposal gain had a
significantly positive impact on the consolidated net income. The transfer
of ownership of the operating units was executed towards the end of the
reporting period; after the end of the reporting period, the change of name
to Clere AG and the capital reduction was entered into the commercial
register.
Group’s overall results influenced by sales profit
As the sold operating business was re-classified as “discontinued
operations”, no sales revenues are reported in the published report for the
third quarter – reporting will resume again upon inception of future
business operations.
During the period under review, earnings before interest and taxes (EBIT)
were EUR -5.1 million and thus 1.9 million below the previous year’s value.
This is primarily due to other operating expenses. These were mainly
composed of increased expenditure for legal and advisory services in
connection with the legal disputes in the USA (EUR 2.1 million) as well as
higher investor relations expenditure for the ordinary and the
extraordinary general meetings (EUR 0.9 million).
Due to the absence of foreign currency gains and the concurrent lower
interest rates, the Group obtained a slightly negative finance income,
which in turn resulted in earnings before taxes (EBT) in the amount of
EUR -5.1 million. During the same period in the previous year, EBT still
amounted to EUR 4.0 million due to currency gains.
As a consequence of the reversal of deferred taxes, tax expenses increased
during the first nine months so that, after taking into account taxes on
income and profit, earnings of the continued operations amounted to EUR
-7.9 million (previous year: EUR 2.5 million). The discontinued operations,
on account of the disposal gain, achieved earnings after taxes in the
amount of EUR 44.0 million. During the period under review, the overall
consolidated net income thus amounted to EUR 36.1 million (previous year:
EUR 4.5 million).
The reduction of equity by EUR 34.2 million to EUR 199.9 million ensues
both from the dividend pay-out (EUR 64.8 million) and the consolidated net
income (EUR 36.1 million). By the end of the period under review, the
equity ratio increased to 91.4 % due to the reduced balance sheet total,
compared to 88.1 % at the end of the previous business year.
At the balance sheet date, the Group still had cash in the amount of
roughly EUR 217.0 million. Hence, the Group has sufficient funds for
financing the capital reduction as well as the establishment of the future
business.
Significant events after conclusion of the reporting period
After the end of the reporting period on 8 April 2016, the change of the
company name to Clere AG and the new business purpose as well as the
capital reduction and the reverse stock split at a 10:1 ratio became
effective. The payout of the capital reduction to the shareholders will
take place in about six to seven months.
Moreover, on 19 April 2016, the arbitration proceedings in the USA between
the sellers of Balda C. Brewer and BIUSA LLC were settled. The amount of
EUR 0.5 million to be paid was within the boundaries of what was expected
and had already been reserved.
“Clere AG has made significant steps forward in the last few months. Based
on further steps such as changing the company name and the termination of
the arbitration proceedings in the USA, we can now concentrate exclusively
on the new alignment of the company”, says Oliver Oechsle, sole Management
Board Member of Clere AG and emphasizes: “We are currently looking into
potential investment options that will return us to profitability – with a
focus on solid returns and a long-term dividend payout policy”.
Note to the publishers:
The report on the third quarter of 2015 / 2016 can now be downloaded on the
company’s website www.clere.de.
Contact / contact person
Daniela Münster
Deekeling Arndt Advisors
Tel: +49 (0) 5734 922 2555
Mobile: +49 (0) 174 335 8111
E-mail: daniela.muenster@deekeling-arndt.de
About Clere
After the sales of the operating business, Clere AG’s business model will
be about investments and shareholdings in the field of environmental and
energy technology. Moreover, the “new Balda” will carry out active asset
management and participation and financing of small and medium sized
businesses.
www.clere.de
—————————————————————————
12.05.2016 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.
Media archive at www.dgap-medientreff.de and www.dgap.de
—————————————————————————
Language: English
Company: Clere AG
Bergkirchener Str. 228
32549 Bad Oeynhausen
Germany
Phone: +49 (0) 57 34 / 9 22-0
Fax: +49 (0) 57 34 / 9 22-2604
E-mail: info@clere.de
Internet: www.clere.de
ISIN: DE000A2AA402
WKN: A2AA40
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart
End of News DGAP News Service
—————————————————————————
462843 12.05.2016