Examination of any justification for the value of the investment in RWT Hornegger & Thor GmbH

The auditor of RWT AG identified the following reportable matters during the audit of the annual financial statements of RWT AG (“Company”) as at January 31, 2025 and today exercised its duty to report to the Management Board and the members of the Supervisory Board of RWT AG in accordance with Section 273 (2) UGB:

The company holds a 100% stake in RWT Hornegger & Thor GmbH. Its economic development in the financial year 2024/2025, which ended on January 31, 2025, did not go according to plan. Both the expected revenue and the planned earnings after taxes could not be achieved due to the insolvency of the main customer KTM. In the current financial year 2025/2026, the consequences of the KTM insolvency have continued in the form of significant revenue losses and a negative quarterly result.

The economic development of RWT Hornegger & Thor GmbH is therefore largely dependent on the successful acquisition of new customers and the future of KTM.

The existence and development of RWT AG are in turn largely dependent on the future business performance of RWT Hornegger & Thor GmbH, meaning that any threat to the existence of the subsidiary has a direct impact on the wholly-owned parent company RWT AG.

In our view, the current situation described above therefore represents a risk that could jeopardize the continued existence of RWT AG.

In addition, the auditor recommended a review of the recognition of the same-period dividend distribution recognized by the subsidiary RWT Hornegger & Thor GmbH with regard to Section 82 (5) GmbHG.

Statement of the Executive Board:
The Executive Board will work together with the auditor to provide the documents requested by the auditor (impairment test on the carrying amount of the investment, updated corporate planning) to assess the effects of the KTM insolvency and the steps taken in the meantime to turn around the subsidiary. This is also intended to assess any necessary impairment of the investment in the subsidiary RWT Hornegger & Thor GmbH.

The Executive Board

 

 

Legal notice / Disclaimer:

This notification is a mandatory notification pursuant to Art 17 of the Market Abuse Regulation. This announcement constitutes neither an offer to purchase securities nor a solicitation of an offer to purchase securities of RWT AG. Any future offer of securities of the company will be made in accordance with and on the basis of the applicable capital market regulations.

 

THIS NOTICE IS NOT INTENDED FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN PART OR IN WHOLE IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY OTHER COUNTRY IN WHICH PUBLICATION OR DISTRIBUTION WOULD BE ILLEGAL.

 

 

Further information and contact:

 

RWT AG
Gseng 90

A-5442 Rußbach

Austria

 

 

Contact person

Reinhard Thor

+43 6242 471 10

r.thor@r-w-t.com