Examination of the potential value of the stake in RWT Hornegger & Thor GmbH
In the course of auditing the annual financial statements of RWT AG as of 01/31/2025, the auditor of RWT AG („Company“) has identified the following reportable events and today exercised the duty to report pursuant to Section 273 (2) UGB towards the Management Board and the members of the Supervisory Board of RWT AG:
Die Gesellschaft ist zu 100% an der RWT Hornegger & Thor GmbH beteiligt. Deren wirtschaftliche Entwicklung verlief im am 31.01.2025 endendenden Geschäftsjahr 2024/2025 nicht plangemäß. Sowohl der erwartete Umsatz als auch das geplante Ergebnis nach Steuern konnten in Folge der Insolvenz des Hauptkunden KTM nicht erreicht werden. Im laufenden Wirtschaftsjahr 2025/2026 haben sich die Folgen der KTM-Insolvenz in signifikanten Umsatzverlusten sowie einem negativen Quartalsergebnis fortgesetzt.
The economic development of RWT Hornegger & Thor GmbH therefore depends significantly on the successful acquisition of new customers and the future of KTM.
The existence and development of RWT AG are in turn significantly dependent on the future business performance of RWT Hornegger & Thor GmbH, so that a threat to the subsidiary's existence has a direct impact on the 100%%parent company RWT AG.
The current situation presented therefore represents a risk, in our view, that could jeopardize the existence of RWT AG.
In addition, the auditor recommended a review of the recognition of the phased dividend distribution booked by the subsidiary RWT Hornegger & Thor GmbH with regard to § 82 para. 5 GmbHG.
Statement of the Executive Board:
The Board of Directors will work 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 impact of KTM's insolvency and the steps taken in the meantime to turn around the subsidiary. This will also be used to assess any necessary extraordinary write-downs of the investment in the subsidiary RWT Hornegger & Thor GmbH.
The Board of Directors
Legal Notice / Disclaimer:
This notification is a compulsory disclosure pursuant to Article 17 of the Market Abuse Regulation. This notification does not constitute an offer to sell or the solicitation of an offer to buy securities of RWT AG. Any future offering of the company’s securities will be made in compliance with and based on applicable capital market regulations.
THIS COMMUNICATION IS NOT INTENDED FOR PUBLICATION OR DISTRIBUTION OR FOR CIRCULATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE SUCH PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
Reference for further questions and contact:
RWT AG
Gseng 90
A-5442 Russbach
Austria
Contact person:
Reinhard Thor
+43 6242 471 10
r.thor@r-w-t.com