Publication of Insider Information according to [Art. 17 MAR]

INDUS reclassifies portfolio companies as discontinued operations and reports preliminary, unaudited key figures for fiscal year 2022

Bergisch Gladbach, 23rd February 2023 – Based on the PARKOUR perform strategy update published in December 2022 and the related discontinuation of the previous Automotive Technology segment, INDUS Holding AG reclassified the three portfolio companies SCHÄFER, SELZER and SMA from the Automotive Technology segment to discontinued operations. In the course of the reclassification, a revaluation of the assets allocated to the reclassified participations also had to be carried out, which was still reflected in the 2022 consolidated financial statements. The reclassification results in changes to the key figures forecasted for the fiscal year 2022. The following information is based on the Group’s preliminary and yet unaudited business figures for 2022.

- Accordingly, in 2022, the sales of the discontinued operations amount to EUR 109.7 million (previous year: EUR 108.0 million) and the after-tax result of these operations amounts to EUR -123.9 million (previous year: EUR -50.2 million).

- Sales of the continuing operations increased by around 10 % to EUR 1.8 billion in the fiscal year (previous year: EUR 1.6 billion). EBIT decreased by 19 % to EUR 133.7 million (previous year: EUR 165.6 million). This includes EUR -42.8 million (previous year: EUR -2.5 million) non-cash impairment losses on goodwill, intangible assets and fixed assets. These impairments result, on the one hand, from the significant increase in the cost of capital derived from market parameters and used for measurement in 2022 as a result of the sharp increases in key interest rates by the ECB. On the other hand, they also result in part from reduced future prospects for the units affected by the impairments.

- For the Group as a whole, the after-tax result was EUR -51.0 million (previous year: EUR 47.6 million).

- The debt repayment period – the ratio of net debt to EBITDA (of continuing operations) – was 2.3 years at the end of the year and thus below the target of 2.5 years.

- The equity ratio decreased due to the high non-cash impairment charges and impairment losses and, at 36.3 %, is below the forecast of at least 40% published with the 2021 Annual Report.

The composition of sales and the operating result (EBIT) of the continuing operations correspond to the presentation on page 92 of the Annual Report 2021 of INDUS Holding AG.

Axel Meyer

COO Engineering
Axel Meyer (German citizen, born 1968) has been a member of the INDUS Board of Management since October 2017.

Until joining INDUS, he held various management positions at Schuler AG, most recently as Managing Director of Schuler Pressen and Head of the Service Division of the Schuler Group, Goeppingen, Germany.

Previously, Axel Meyer worked as a member of the Board of Management of the international management consultancy IMAGIN Prof. Bochmann AG, Eppstein im Taunus, Germany. He started his professional career in the Schuler Group's Solid Forming Division, initially in global sales and later as Division Manager.

Axel Meyer studied industrial engineering in Germany and the USA and earned a Master of Mergers & Acquisitions (LL.M.) at the Frankfurt School of Finance & Management while working. 

Gudrun Degenhart

COO Materials Solutions
Gudrun Degenhart (German citizen, born 1970) has been a member of the Board of Management of INDUS since October 2023.

She has more than 20 years of experience in the management and development of portfolio companies in Europe, USA and the Asia-Pacific regions.

Before joining INDUS, Gudrun Degenhart was CEO for the German portfolio companies of the international service group ISS. She previously worked for the thyssenkrupp Group, including as CEO of the international business unit for special lifts and as CEO of Materials Western Europe and Asia-Pacific. She gained experience in medium-sized companies as a board member of the construction technology company Schöck.

A graduate in business administration, she began her career by building up the Central and Eastern European activities of the construction specialist Lindner Group. 

Dr. Jörn Großmann

COO Infrastructure
Dr. Jörn Großmann (German citizen, born 1968) has been a member of the INDUS Board of Management since January 2019.

Up until joining INDUS, he worked for the Dutch group Aalberts Industries, with his last position being the sole managing director of Impreglon, Lüneburg, Germany.

He previously held various positions at the Georgsmarienhütte Group, initially becoming managing director of Mannstaedt, Troisdorf, Germany and later managing director of GMH Edelstahl Service Center Burg and GMH Engineering. Before Dr. Großmann became the managing director of Buderus Feinguss, Moers, Germany, he worked as a development engineer and as a technical director for Doncasters Precision Castings, Bochum, Germany.

He studied material sciences and earned a doctorate in the field of natural sciences.

Dr. -Ing. Johannes Schmidt

CEO
Dr. -Ing. Johannes Schmidt (German citizen, born 1961) has been a member of the Board of Management of INDUS since January 2006. He has assumed the position of CEO since July 2018.

Dr. -Ing. Schmidt was previously the sole managing director of ebm-papst Landshut, Germany, a manufacturer of ventilation motors and fans. During his tenure there, his main achievements included advancing the development of new product platforms and the internationalization of production sites.

Dr. -Ing. Schmidt began his career at Richard Bergner, a manufacturer of electrical instruments from Schwabach, Germany. He initially led product development before rising to the position of managing director during his 12 years at the company.

Schmidt, who studied mathematics, gained an engineering doctorate in mechanics from the Technical University of Darmstadt. 

Rudolf Weichert

CFO
Rudolf Weichert (German citizen, born 1963) is the CFO of INDUS.

Before joining the INDUS Board of Management in June 2012, he was a Partner at KPMG for nine years. He spent three of these years in Detroit, Michigan, United States, where he worked mainly with companies in the engineering, and materials trading industries.

Mr. Weichert, who holds a masters degree in business administration, worked for KPMG for about 20 years, primarily in the firm’s Duesseldorf office, where he worked mainly with multinational manufacturing corporations.