mic Aktie
WKN DE: A0KF6S / ISIN: DE000A0KF6S5
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22.09.2016 14:23:11
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DGAP-News: mic AG
DGAP-News: mic AG: mic AG board announces refocusing - one-time balance sheet cleanup - transparent display of portfolio values
- preliminary net loss of about EUR15.2mn for HY1 2016 - significant actions implemented to reduce costs take effect - total portfolio value on 6/30/2016 is about EUR33.8mn
Munich, 22 September 2016 - The new board of mic AG, listed on the entry standard at the Frankfurt stock exchange (ISIN DE000A0KF6S5), detected high impairments in the interim financial statements, caused by standards set by the more focused corporate strategy.
Hence, for the first six months of 2016, a net loss of about EUR15.2mn occurred, according to current calculations. This is induced by write-downs of valuations on company shares (EUR10.6mn) and to receivables (EUR4.1mn) plus an operative loss (EUR0.5mn). At 6/30/2016, the direct investments µ- GPS Optics GmbH, ProximusDA GmbH und SmartM GmbH were written off entirely. Moreover, further write-downs of indirect subsidiaries are accounted to the "Business Units" micData AG and Wearable Technologies AG. Amounting for these write-offs, mic AG's equity on 6/30/2016 accumulates to EUR30.2mn, according to preliminary calculations. With a balance sheet total of EUR38.3mn, mic AG's equity ratio is set at 78.85% at the end of the first six months 2016.
"During the past months, it was recognized that the modified and refined strategy has significant implications onto the portfolio valuation. This one-time revaluation was imperatively necessary in order to get a reliable core statement for our total portfolio. Our portfolio valuation after the write-odowns amounts for about EUR33.8mn", Christian Damjakob, who became a board member of mic AG as COO on 8/25/2016, is quoted. "With our specified course, we are concentrating only on those portfolio companies that are in a 100% accordance with our strategy. Consequently, we focus on profitably establishing our disruptive technologies by service- and sales-acquisition in dynamically growing markets."
"With the clear plan of refocusing onto a core team of specialists inside mic AG, we can concentrate entirely on our classic buy&build in the deep- technology segment", Claus-Georg Müller, mic AG's CEO, says.
The portfolio's book value at 6/30/2016 of about EUR33.8mn is compounded by: micData AG EUR5.03mn 4industries AG EUR10.55mn Smarteag AG EUR9.54mn Wearable Technologies AG EUR1.50mn Lifespot Capital AG EUR4.76mn Other direct investments EUR2.40mn
Furthermore, the major shareholder mic-holding AG will swap the main fraction of its shareholder loans with mic AG of approximately EUR4.6mn (6/30/2016) into shares of mic AG. Due to this implementation, mic AG's equity ratio will rise to approximately 91%.
"Provided that the equity swap is going to happen, the portfolio's book value per share will account between EUR2.38 and EUR2.78. Given the current stock price of EUR 1.17, mic-shares show a discount of 50% to the portfolios's book value" mic-board member Christian Damjakob explains. "The second period of 2016 will be shaped by the induced refocusing strategy. By no later than the first quarter 2017, the refocusing strategy's strength and the clear, strategically focused portfolios of mic AG will have perceptible positive impacts onto the key performance indicators."
For interested shareholders and press staff, mic AG will arrange a web- conference today at 9/22/2016, 15:30 (UTC+2) in German. Here, mic-board member Christian Damjakob will explain the new strategy, giving detailed measures. In case you are interested in participating, please send your contact details to elke.kohl@mic-ag.eu.
Mic-AG will publish the detailed interim results on 9/30/2016.
About mic AG
Mic AG is an active investor with a long-term investment horizon, which is listed in the Entry Standard at the Frankfurt Stock Exchange. Its portfolio companies with disruptive technologies are complemented by shareholdings in medium-sized companies the fields of optical, industrial, medical and IT measuring and evaluation technology ("Internet of Things", hereinafter referred to as "IoT"). Within the scope of a "Buy and Build- Strategy", mic AG consolidates entire technological sectors and markets. In that respect, the goals of increasing value, scaling effects and profitability are generally the ones of most import. With the aid of an experienced and renowned team, mic AG focuses on its core competences, finding innovative technology companies capable of being expanded, and developing the respective subsidiaries, viz. the business units. The business units help the mic Group to position its shareholdings on the market, both rapidly and successfully, and it assists them in locating additional funds. Due to setting the course in this strategic way, mic AG has increasingly developed, in recent years, to become the technology provider for industrial companies, international organisations and a sovereign clientèle worldwide.
Contact mic AG:
Elke Kohl Investor Relations Manager Denisstr. 1b D-80335 München Tel: +49 - 89-244-192-200 Fax: +49 - 89-244-192-230 elke.kohl(at)mic-ag.eu www.mic-ag.eu ISIN: DE000A0KF6S5 | WKN: A0KF6S | Symbol: M3B
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22.09.2016 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. Archive at www.dgap.de
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Language: English Company: mic AG Denisstr. 1b 80335 München Germany Phone: +49 (0)89 244 192-212 Fax: +49 (0)89 244 192-220 E-mail: info@mic-ag.eu Internet: www.mic-ag.eu ISIN: DE000A0KF6S5 WKN: A0KF6S Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart, Tradegate Exchange; Open Market (Entry Standard) in Frankfurt End of News DGAP News Service ---------------------------------------------------------------------------
504559 22.09.2016
DGAP-News: mic AG / Key word(s): Half Year Results
mic AG: mic AG board announces refocusing - one-time balance sheet cleanup -
transparent display of portfolio values
22.09.2016 / 14:23
The issuer is solely responsible for the content of this announcement.
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Corporate News
mic AG board announces refocusing - one-time balance sheet cleanup -
transparent display of portfolio values
- preliminary net loss of about EUR15.2mn for HY1 2016 - significant actions implemented to reduce costs take effect - total portfolio value on 6/30/2016 is about EUR33.8mn
Munich, 22 September 2016 - The new board of mic AG, listed on the entry standard at the Frankfurt stock exchange (ISIN DE000A0KF6S5), detected high impairments in the interim financial statements, caused by standards set by the more focused corporate strategy.
Hence, for the first six months of 2016, a net loss of about EUR15.2mn occurred, according to current calculations. This is induced by write-downs of valuations on company shares (EUR10.6mn) and to receivables (EUR4.1mn) plus an operative loss (EUR0.5mn). At 6/30/2016, the direct investments µ- GPS Optics GmbH, ProximusDA GmbH und SmartM GmbH were written off entirely. Moreover, further write-downs of indirect subsidiaries are accounted to the "Business Units" micData AG and Wearable Technologies AG. Amounting for these write-offs, mic AG's equity on 6/30/2016 accumulates to EUR30.2mn, according to preliminary calculations. With a balance sheet total of EUR38.3mn, mic AG's equity ratio is set at 78.85% at the end of the first six months 2016.
"During the past months, it was recognized that the modified and refined strategy has significant implications onto the portfolio valuation. This one-time revaluation was imperatively necessary in order to get a reliable core statement for our total portfolio. Our portfolio valuation after the write-odowns amounts for about EUR33.8mn", Christian Damjakob, who became a board member of mic AG as COO on 8/25/2016, is quoted. "With our specified course, we are concentrating only on those portfolio companies that are in a 100% accordance with our strategy. Consequently, we focus on profitably establishing our disruptive technologies by service- and sales-acquisition in dynamically growing markets."
"With the clear plan of refocusing onto a core team of specialists inside mic AG, we can concentrate entirely on our classic buy&build in the deep- technology segment", Claus-Georg Müller, mic AG's CEO, says.
The portfolio's book value at 6/30/2016 of about EUR33.8mn is compounded by: micData AG EUR5.03mn 4industries AG EUR10.55mn Smarteag AG EUR9.54mn Wearable Technologies AG EUR1.50mn Lifespot Capital AG EUR4.76mn Other direct investments EUR2.40mn
Furthermore, the major shareholder mic-holding AG will swap the main fraction of its shareholder loans with mic AG of approximately EUR4.6mn (6/30/2016) into shares of mic AG. Due to this implementation, mic AG's equity ratio will rise to approximately 91%.
"Provided that the equity swap is going to happen, the portfolio's book value per share will account between EUR2.38 and EUR2.78. Given the current stock price of EUR 1.17, mic-shares show a discount of 50% to the portfolios's book value" mic-board member Christian Damjakob explains. "The second period of 2016 will be shaped by the induced refocusing strategy. By no later than the first quarter 2017, the refocusing strategy's strength and the clear, strategically focused portfolios of mic AG will have perceptible positive impacts onto the key performance indicators."
For interested shareholders and press staff, mic AG will arrange a web- conference today at 9/22/2016, 15:30 (UTC+2) in German. Here, mic-board member Christian Damjakob will explain the new strategy, giving detailed measures. In case you are interested in participating, please send your contact details to elke.kohl@mic-ag.eu.
Mic-AG will publish the detailed interim results on 9/30/2016.
About mic AG
Mic AG is an active investor with a long-term investment horizon, which is listed in the Entry Standard at the Frankfurt Stock Exchange. Its portfolio companies with disruptive technologies are complemented by shareholdings in medium-sized companies the fields of optical, industrial, medical and IT measuring and evaluation technology ("Internet of Things", hereinafter referred to as "IoT"). Within the scope of a "Buy and Build- Strategy", mic AG consolidates entire technological sectors and markets. In that respect, the goals of increasing value, scaling effects and profitability are generally the ones of most import. With the aid of an experienced and renowned team, mic AG focuses on its core competences, finding innovative technology companies capable of being expanded, and developing the respective subsidiaries, viz. the business units. The business units help the mic Group to position its shareholdings on the market, both rapidly and successfully, and it assists them in locating additional funds. Due to setting the course in this strategic way, mic AG has increasingly developed, in recent years, to become the technology provider for industrial companies, international organisations and a sovereign clientèle worldwide.
Contact mic AG:
Elke Kohl Investor Relations Manager Denisstr. 1b D-80335 München Tel: +49 - 89-244-192-200 Fax: +49 - 89-244-192-230 elke.kohl(at)mic-ag.eu www.mic-ag.eu ISIN: DE000A0KF6S5 | WKN: A0KF6S | Symbol: M3B
---------------------------------------------------------------------------
22.09.2016 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. Archive at www.dgap.de
---------------------------------------------------------------------------
Language: English Company: mic AG Denisstr. 1b 80335 München Germany Phone: +49 (0)89 244 192-212 Fax: +49 (0)89 244 192-220 E-mail: info@mic-ag.eu Internet: www.mic-ag.eu ISIN: DE000A0KF6S5 WKN: A0KF6S Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart, Tradegate Exchange; Open Market (Entry Standard) in Frankfurt End of News DGAP News Service ---------------------------------------------------------------------------
504559 22.09.2016
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