DGAP-News: Clere AG publishes report on the third quarter of 2015 / 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


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


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




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service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

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Language: English

Company: Clere AG

Bergkirchener Str. 228

32549 Bad Oeynhausen


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


Listed: Regulated Market in Frankfurt (Prime Standard); Regulated

Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,

Munich, Stuttgart

End of News DGAP News Service


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