Corporate | 22 April 2015 16:30


Ekotechnika GmbH: Draft of the IDW S6 report confirms that Ekotechnika is capable of being restructured


Ekotechnika GmbH / Key word(s): Bond/Capital Reorganisation

2015-04-22 / 16:30

Ekotechnika GmbH: Draft of the IDW S6 report confirms that Ekotechnika is capable of being restructured

  • Audit firm PwC submits comprehensive draft of the restructuring report (Sanierungsgutachten)
  • Report confirms that Ekotechnika GmbH is capable of being restructured provided that the operational and financial restructuring measures are implemented successfully

Walldorf, 22 April 2015 – Ekotechnika GmbH has today received the confirmation that the company is capable of being restructured on the basis of the targeted measures.

This is the result of the restructuring report (IDW S6 Sanierungsgutachten) prepared by PricewaterhouseCoopers (PwC) at the instruction of Ekotechnika GmbH. The going concern prospects are based on the restructuring concept prepared and already announced by the company, which comprises several operational and financial measures still to be implemented. In financial terms, it primarily comprises measures aimed at strengthening the company’s equity base and liquidity. To assess whether the company can continue as a going concern, the corporate concept and the financial plans and budgets were analysed and subjected to sensitivity tests.

In their draft report, the experts conclude that Ekotechnika GmbH is generally capable of being restructured provided that the restructuring measures are implemented as planned and the overall conditions for the Russian agricultural machinery sector stabilise successively.

The restructuring report (Sanierungsgutachten) is based on the IDW S6 requirements for the preparation of restructuring concepts (IDW S6 – Anforderungen an die Erstellung von Sanierungskonzepten) including the requirements of the BGH Supreme Court.

Holders of the Ekotechnika bond 2013/18 (ISIN: DE000A1R1A18) who sign a release letter may request the draft of the restructuring report (Sanierungsgutachten) from the company, which however is only available in German. At the second bondholders’ meeting on 6 May 2015 in Walldorf, the management will report in detail on the restructuring concept and the current state of the restructuring.

For further information about the restructuring of the company, visit www.ekotechnika.de/de/anleihe.html (only available in German) and http://www.ekotechnika.de/en/investor-relations/second-noteholders-meeting.html.


About Ekotechnika
Walldorf-based Ekotechnika GmbH is the German holding company of the Ekoniva-Technika Group, the largest distributor of agriculture equipment in Russia. The company’s single most important supplier is John Deere & Co., the world’s leading manufacturer in this field. In addition, Ekotechnika sells equipment from another 11 market-leading manufacturers. Its main business is in selling new equipment such as tractors but also milking equipment and precision farming technology. In addition, the company sells spare parts and provides service and maintenance. Ekotechnika’s founder and main shareholder is Stefan Dürr, who has been active in the Russian farming sector since the late eighties and has been instrumental in its modernisation over the past two decades. In 2011 the equipment business was separated from the farming business, which now operates independently under the name Ekosem-Agrar. Operating 12 locations in attractive Russian farming regions, Ekotechnika today employs around 545 people and generates sales of EUR 173 million in 2013/2014.


Contact
Ekotechnika GmbH // Johann-Jakob-Astor-Str. 49 // 69190 Walldorf // T: +49 (0) 6227 3 58 59 60 //
E: info@ekotechnika.de // www.ekotechnika.de

Media / Investor Relations
Fabian Kirchmann // IR.on AG // T: +49 (0) 221 9140 970 // E: presse@ekotechnika.de




2015-04-22 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: Ekotechnika GmbH
Johann-Jakob-Astor-Str. 49
69190 Walldorf
Germany
Phone: +49 (0) 6227 3 58 59 60
E-mail: info@ekotechnika.de
Internet: www.ekotechnika.de
ISIN: DE000A1R1A18
WKN: A1R1A1
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart (bondm); Open Market in Frankfurt
End of News DGAP News-Service
347325  2015-04-22