UMT United Mobility Technology AG: UMT publishes preliminary figures for financial year 2023 and recognizes impairment loss

München (pta035/24.06.2024/22:35) - - Significant increase in total operating performance in 2023
- Risk adjustment and depreciations at both Buchberger companies and at UMS GmbH according to the principle of prudence
- Further sales growth expected for 2024

UMT United Mobility Technology AG ("UMT AG", Securities identification number WKN: A2YN70, ISIN: DE000A2YN702) announced preliminary figures for financial year 2023 today.

UMT AG's total performance increased by TEUR 527 to TEUR 558 in the past financial year (previous year: TEUR 31). This was due to the increase in revenues of TEUR 216 (previous year: TEUR 20) and other operating income (TEUR 342, previous year: TEUR 11). As a result, gross profit also increased by TEUR 529 to TEUR 553 in the reporting year (previous year: TEUR 24). While earnings before interest, taxes, depreciation and amortization (EBITDA) improved significantly in the reporting year to TEUR -150 (previous year: TEUR -1,337), earnings before interest and taxes (EBIT) fell to TEUR -31,539 (previous year: TEUR -10,450) as a result of depreciation and amortization totaling TEUR 31,389. As a result, earnings before taxes (EBT) deteriorated to TEUR -31,474 (previous year: TEUR -10,373). UMT AG closed financial year 2023 with a net loss for the year of TEUR -31,492 (previous year: TEUR -10,379).

Due to the unpredictable outcome of the legal dispute and in order not to burden the future business orientation with risks from the Buchberger investment, the Management Board decided to make an impairment loss for the two Buchberger companies in UMT AG's 2023 annual financial statements today. Even in the event of a positive outcome for UMT AG in the second instance, which is not foreseeable for UMT AG, the investment is subject to further uncertainties. The companies are currently and indefinitely unusable for investment management measures, consolidation or resale and, in the opinion of the Management Board, are therefore permanently impaired. In addition to the uncertain legal situation, the economic situation of the Buchberger companies is also not transparent.

The two Buchberger companies were written down to a residual carrying amount of TEUR 100. The investment in Buchberger Baugeräte Handel GmbH was written down from TEUR 12,700 to TEUR 83 and the investment in Buchberger Baumaschinen Vermietung + Service GmbH from TEUR 2,600 to TEUR 17.

The investment in UMS United Mobile Services GmbH ("UMS GmbH") was written down from TEUR 8,486 to TEUR 2,886. The decision to write down UMS GmbH by TEUR 5,600 was made due to the valuation carried out for reasons of prudence because of the current realignment of the company and the general economic situation. In addition, a further write-down requirement of TEUR 10,589 was taken into account as part of the valuation of a loan granted to UMS GmbH.

For the current financial year 2024, the Management Board expects further growth with an improvement in sales and the operating result. Further capital measures are also planned to enable the company to invest in sales and growth.

The figures published in this press release are preliminary. UMT AG's annual report (at individual financial statement level) will be published on the company's website in July 2024.

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