technotrans SE

Interim / Quarterly Report • Aug 11, 2020

TECHNOTRANS AT A GLANCE

	Δ previous year	1/1/ – 30/6/2020	1/1/ – 30/6/2019	2019
Revenue (€ '000)	–7.3%	95,138	102,591	207,927
Technology (€ '000)	–5.3%	69,435	73,337	148,424
Services (€ '000)	–12.1%	25,703	29,254	59,503
EBITDA (€ '000)	–16.5%	6,316	7,563	16,008
EBITDA margin (%)		6.6	7.4	7.7
EBIT (€ '000)	–31.3%	2,818	4,099	8,338
EBIT margin (%)		3.0	4.0	4.0
Net profit for the period(€ '000)	–34.2%	1,781	2,707	6,089
as percentage of revenue		1.9	2.6	2.9
Earnings per share (€)	–34.2%	0.26	0.39	0.88
Balance sheet total assets (€ '000)	4.3% *	152,283	140,861	146,003
Equity (€ '000)	2.1% *	76,679	71,688	75,067
Equity ratio (%)		50.4	50.9	51.4
Net debt1 (€ '000)	6.6% *	25,827	29,550	24,232
Net working capital ratio2 (%)		22.2	20.4	20.2
Free cash flow3 (€ '000)		–1,256	1,058	7,648
Employees (reporting date)	–2.0%*	1,445	1,435	1,474
Employees (FTE) (average)	–0.1%	1,280	1,281	1,280
Personnel expenses (€ '000) 4	1.2%	39,685	39,225	77,679
as percentage of revenue 4		41.7	38.2	37.4
Revenue per employee (FTE) (€ '000)	–7.2%	74	80	162
Number of shares at end of period		6,907,665	6,907,665	6,907,665
Share price max (€) 5		20.85	30.00	30.00
Share price min (€) 5		10.14	21.00	15.52

* Change since December 31, 2019

1Net debt for the period = Interest-bearing financial liabilities including lease liabilities according to IFRS 16./. cash and cash equivalents

2Net working capital ratio = Net working capital / revenue (rolling four quarters)

3Free cash flow = Net cash from operating activities + cash used for investments according to cash flow statement

4Previous year's figures adjusted due to a reclassification. Please refer to the notes to the consolidated financial statements for

detailed information

5Xetra closing price

PRESENTATION OF SIGNIFICANT EVENTS AND BUSINESS PERFORMANCE IN THE FIRST SIX MONTHS OF 2020

technotrans generates positive half-year result in COVID-19 environment

KEY FIGURES AT A GLANCE

• › CONSOLIDATED REVENUE OF € 95.1 MILLION REALISED AND THUS ONLY 7.3 PERCENT BELOW THE PREVIOUS YEAR
• › EBITDA REACHES € 6.3 MILLION WITH AN EBITDA MARGIN OF 6.6 PERCENT
• › EBIT AMOUNTS TO € 2.8 MILLION; EBIT MARGIN AT 3.0 PERCENT
• › EBIT ADJUSTED FOR ONE-TIME EFFECTS AMOUNTS TO € 4.0 MILLION; ADJUSTED EBIT MARGIN AT 4.2 PERCENT ABOVE THE PREVIOUS YEAR
• › EARNINGS PER SHARE OF THE FIRST HALF YEAR 2020 AT € 0.26
• › EQUITY RATIO REMAINS SOLID IN LINE WITH TARGET AT 50.4 PERCENT
• › CASH AND CASH EQUIVALENTS AMOUNT TO € 22.8 MILLION
• › FREE CASH FLOW AT € -1.3 MILLION

General conditions

The corona pandemic that spread globally led to a slump in the world economy in the first six months of the 2020 financial year. Drastic measures to contain the infections increasingly paralysed economic and social life. In addition to quarantine regulations, the governments imposed extensive travel and contact restrictions, which brought international trade show operations to a standstill and made business trips almost impossible. In many places the business activities of entire companies came to a standstill. Global government support measures are intended to help reduce the economic impact of the corona crisis and to stabilize the economic situation as quickly as possible.

The technotrans Group, with its export-oriented business, is likewise severely affected by the effects of this pandemic. We have implemented far-reaching measures to protect our employees and maintain business operations. Until today, production continues without interruption at all German sites. In close cooperation with our customers and suppliers, we continuously stand by them as a reliable partner, even in this challenging environment.

Thanks to its sound capital structure and liquidity position, technotrans can tackle the difficult underlying conditions from a position of strength. Nevertheless, the technotrans Group cannot escape the effects of COVID-19: After comparatively moderate restrictions on business development in the first quarter, which initially only affected the international locations in China, France, Spain and Italy, these restrictions were extended to all locations of the Group in the second quarter of 2020 as a result of the global spread of the COVID-19 pandemic.

In view of the sluggish business development, the Board of Management immediately initiated far-reaching measures to adjust the cost structure. In combination with the Group's diversified positioning, these have contributed to minimise the adverse effects on the technotrans Group in the first half of the financial year 2020.

However, in times of a global pandemic such as COVID-19, these are not sufficient to meet the original expectations for business performance.

As a result, there were delays in the conclusion of contracts and planned acceptance tests. There were no significant cancellations of orders in the reporting period.

Due to the COVID-19-related severe restrictions on the ability to plan the course of business, the Board of Management withdrew its forecast for the financial year 2020 on April 30, 2020. A new forecast will be published as soon as this is possible with sufficient accuracy.

Effects of the COVID-19 pandemic on business performance

COVID-19 was declared a global pandemic on March 11, 2020 as it became more widespread. The resulting global economic consequences have expanded at the beginning of the second quarter of the financial year 2020.

Production at the German plants of the technotrans Group was not interrupted throughout the entire period under review. The supply of components and parts for production was always secured throughout the first half of the year.

technotrans continued to take comprehensive precautions to protect its employees against infection. During the period under review, there were no infections within the workforce during business operations.

Due to the COVID-19 pandemic, incoming orders weakened, especially in the second quarter of 2020.

At the beginning of the second quarter of 2020, the Board of Management immediately adjusted the available personnel capacities to the changed demand. In June 2020, 640 employees or 57 percent of the domestic workforce was on

short-time work. The resulting capacity reduction of 25 percent was thus significantly higher than the 17 percent drop in quarterly revenue. Personnel expenses decreased from € 21.6 million in the first quarter of 2020 to € 18.1 million in the second quarter of 2020.

The asset and financial situation remained solid. An additional positive liquidity effect was generated by the decision of the Annual General Meeting in May not to pay a dividend for the 2019 financial year.

At the end of the second quarter, there was a corona-related decline in incoming orders and more difficult delivery conditions. This led in particular to a higher level of inventories as of June 30, 2020.

Development in our markets

In terms of sales markets, the COVID-19 pandemic had a considerable impact on business with customers in the printing industry in the first half of 2020. Postponed investments due to the high level of uncertainty and postponed repairs led to lower demand for technotrans equipment and services on the part of both press manufacturers and end customers.

Contrary to the general market trend, business in the laser and machine tool industry remained at the previous year's level. The broader diversification on the customer side and a continuous growing business of the next-generation chip manufacturing business ("Extreme Ultra Violet"/EUV process) had a stabilizing effect.

The plastics sector developed in line with expectations. Our Group companies located there achieved an increase in revenue compared to the previous year.

The development of the growth markets in the reporting period was as follows:

In the area of electromobility, technotrans has successfully acquired serial orders worth a mid-single-digit million euro amount and hereby further extended its leading position for cooling systems for battery-powered or hybrid rail vehicles.

The commitment to medical and scanner technology continued to develop positively. The pre-series order for the technotrans solution for blood cooling has been signed. The first units are scheduled for delivery from the fourth quarter of 2020.

Sales of cooling systems for baggage scanners also developed positively. Airports took advantage of the slump in passenger numbers to modernise their facilities as required by law.

Compared to the previous year, the high-power charging infrastructure showed less dynamics. The high revenue of the previous year could not be maintained in the reporting period.

The first half year of 2020 in figures

The technotrans Group posted total consolidated revenue of €95.1 million in the period under review. This shows a decline of 7.3 percent compared to the previous year, which is mainly due to COVID-19.

Despite the adverse conditions, a positive operating result before interest and taxes (EBIT) of € 2.8 million was achieved (previous year: € 4.1 million). The EBIT margin decreased by one percentage point year-on-year to 3.0 percent (previous year: 4.0 percent). It thus reached the lower threshold value of the original forecast, which was withdrawn due to the planning uncertainty caused by corona.

EBIT includes one-off structural costs of € 1.8 million and a oneoff income of € 0.6 million from a completed fine proceeding of the German Federal Financial Supervisory Authority (BaFin). Adjusted for these effects, EBIT reached € 4.0 million, which corresponded to an EBIT margin of 4.2 percent and was thus higher than in the previous year.

The Technology segment posted revenue of € 69.4 million (previous year: € 73.3 million) with an EBIT of € -0.7 million. The revenue weight in the Group increased by 1.5 percentage points to 73 percent compared to the previous year. The EBIT margin was -1.0 percent (previous year -0.2 percent).

The Services segment generated revenue of € 25.7 million due to the Corona-related restrictions (previous year: € 29.3 million). The share of revenue in the Group fell to 27 percent accordingly. EBIT amounted to € 3.5 million, corresponding to an EBIT margin of 13.6 percent (previous year 14.5 percent).

The equity ratio as of June 30, 2020 was 50.4 percent (December 31, 2019: 51.4 percent).

As of June 30, 2020, the Group employed 1,445 people. Compared with December 31, 2019, the number of employees has decreased by 29 employees. The average full employment equivalent (FTE) was 1,280 employees. The structural measures currently being implemented provide for a total reduction in jobs of at least five percent by the end of 2020.

Investments: New production site Reisner Cooling Solutions

Construction progressed more quickly than expected. The financing of the new building according to KfW 55 standard is fully covered by long-term, low-interest subsidised loans.

Changes in the Supervisory Board

The Shareholders' Meeting on May 20, 2020 elected Andrea Bauer as a new member of the Supervisory Board of technotrans SE. Ms. Bauer succeeds Dieter Schäfer, who left the Supervisory Board for personal reasons. She is a tax consultant, auditor and certified public accountant and was most recently a member of the Board of Management of VDM Metals Holding GmbH and CFO of the VDM Metals Group. She is currently a member of the Supervisory Board of Aurubis AG.

INTERIM GROUP MANAGEMENT REPORT

Business performance of the technotrans Group for the first six months of the 2020 financial year

ECONOMIC REPORT

General and industry-specific economic environment

The COVID-19 pandemic is the main determining factor in the economic framework conditions in the first half of the 2020 financial year. Whereas in the first quarter of 2020 individual regions such as China and Southern Europe were initially affected, COVID-19 has now triggered a worldwide recession.

The International Monetary Fund (IMF) has further revised its expectations downwards in its June outlook. It now expects a contraction of the global economy in the year 2020 by 4.9 percent (April: -3.0 percent). In Europe, the IMF even expects a contraction of 10.2 percent. The decisive factor in this respect are the extensive burdens of the COVID-19 pandemic in France, Italy and Spain. For Germany, a minus of 7.8 percent is expected for the year 2020 (outlook as of April: -7.0 percent).

With the spread of the COVID-19 pandemic, the order situation in the German mechanical and plant engineering industry has deteriorated dramatically. According to VDMA calculations, the price-adjusted order intake in the period from January to June 2020 was overall 16 percent down on the previous year. In selected technotrans markets, the slump in orders for specific industries is in some cases even more severe: Orders for printing presses, for example, were 35 percent down compared to 2019. Incoming orders for plastics machinery fell by 20 percent according to the VDMA.

In contrast, important sentiment indicators such as the purchasing managers' index and the ifo business climate index brightened up in June. A rise in production in the manufacturing sector since June also provided cautious optimism. Nevertheless, a high degree of uncertainty remains: Still no vaccine has been found; infection rates in the US and other major economies remain at negative record levels. In Germany, short-time work was applied for around eight million employees.

Overall statement on business progress

The global spread of the COVID-19 pandemic in major sales markets increasingly impaired the business performance of the technotrans Group over the course of the first half of the year.

The diversified structure and measures initiated by the Board of Management at an early stage to adjust personnel and material costs helped to limit the adverse effects on the Group's financial situation.

The development of technotrans' markets in the first half of the year was correspondingly heterogeneous.

In the printing industry, the slump in demand for equipment due to a continuing reluctance to invest led to a sharp decline in revenue. The more difficult travel conditions and restricted access possibilities put additional pressure on the service business.

In the plastics processing sector, the continuing weakness in the automotive-related injection moulding technology was largely compensated by sales successes in the extrusion sector. Our companies achieved higher revenue compared with the previous year.

In the growth markets, there was a steady high volume of enquiries for rail-bound battery cooling systems during the period under review. technotrans was thus able to conclude significant new business deals of serial-production character and demonstrated its strong position as a leading partner for cooling solutions in the area of railway technology.

Developments in medical and scanner technology were also positive: The demand for cooling solutions for baggage scanners developed positively. This also applied to the technotrans concept for blood cooling: The pre-series order was signed in the reporting period. This includes the delivery of a larger number of units already in the fourth quarter of 2020. In contrast, business with high-power-charging-stations (HPC) was characterized by a slowdown in momentum during the reporting period. Due to the still low availability of HPC-compatible vehicles and an increasingly difficult competitive environment, it was not possible to maintain the previous year's high level of revenue.

In contrast to the general market trend, the laser and machine tool division almost matched the previous year's level. Here, technotrans benefited from its broadly diversified customer structure as well.

"The course of business in the first half of the 2020 financial year does not meet our expectations overall. With regard to the current circumstances we can still be satisfied. Positive earnings before interest and tax (EBIT) even in times of a global crisis demonstrate that the measures initiated in the 2019 financial year are already taking effect. In addition, the systematic diversification of industries and markets over recent years has had an important, stabilising effect," says Michael Finger, Spokesman of the Board of Management of technotrans SE.

Revenue and financial performance

		HY1 2020	HY1 2019	Change in %
Revenue	€ million	95.1	102.6	–7.3
Gross profit 1	€ million	26.8	30.4	–11.8
Gross margin 1	in %	28.2	29.7
EBITDA	€ million	6.3	7.6	–16.5
EBIT	€ million	2.8	4.1	–31.3
EBIT margin	in %	3.0	4.0
Net profit for the period	€ million	1.8	2.7	–34.2
EPS	in €	0.26	0.39	–34.2

1Prior-year figures adjusted due to a reclassification

Revenue performance

The technotrans Group posted consolidated revenue of €95.1 million in the first six months of the 2020 financial year (previous year: € 102.6 million). This corresponds to a decline of 7.3 percent. Following an expected start to the financial year with still manageable corona-related restrictions and revenue of € 52.2 million, the global pandemic increasingly impacted the worldwide business activities of the technotrans Group from April 2020. This was reflected in consolidated revenue of € 42.9 million for the second quarter of the 2020 financial year, which was 17.6 percent below the previous quarter.

The technotrans Group experienced uneven demand in the relevant markets during the period under review.

The printing industry, which has recently been affected by the continuing consolidation in the end markets, recorded a generally weaker level of revenue and orders throughout the first half of 2020, particularly among OEM customers. The share of Group revenue in this area has fallen to around 35 percent (previous year: around 40 percent).

The revenue generated outside the printing industry amounted to around 65 percent in the period under review.

The laser and machine tool markets generated a revenue share of around 22 percent, plastics technology accounted for around 24 percent, while the growth markets accounted for around 16 percent, and the Technical Documentation contributed around 3 percent to the consolidated revenue.

Financial performance

In the period under review, consolidated EBIT amounted to € 2.8 million (previous year: € 4.1 million). The EBIT margin fell to 3.0 percent from 4.0 percent compared to previous year level. In absolute terms and pro rata, the result was thus at the lower end of the range originally expected bandwidth for the full year 2020, which was withdrawn due to the COVID-19 pandemic.

The EBIT for the first six months already includes € 1.8 million of the costs planned for the current financial year (€ 3.0 million) for structural and personnel measures with regard to

the strategic reorientation. The use of short-time-work at the German sites and further cost optimization measures within the Group resulted in relief of € 1.6 million in the period under review. In addition, a one-off, positive contribution to earnings of € 0.6 million was realised in March 2020 from the reversal of a provision formed in the 2019 for pending fine proceedings (BaFin).

The cost of sales, which mainly consists of material and personnel costs and other attributable costs, declined by 5.3 percent in the first six months of the 2020 financial year. The gross profit on revenue amounted to € 26.8 million (previous year: € 30.4 million); gross margin reached 28.2 percent (previous year: 29.7 percent). In selling expenses, which decreased from € 12.6 million to € 10.8 million, reflect the cancellation or postponement of attendance at trade shows due to the COVID-19 pandemic and the limited travel possibilities.

General administration and development costs remained at previous year's level, totalling € 13.5 million. The positive balance of other operating income and expenses increased by € 0.3 million.

EBITDA achieved in the period under review amounted to € 6.3 million and was thus 16.5 percent below the previous year. Scheduled depreciations amounting to € 3.5 million corresponded to previous year's level. The interest expense of €0.3 million also remained unchanged compared with the previous year. The technotrans Group posted consolidated net profit after taxes of € 1.8 million in the first six months of the 2020 financial year (previous year: € 2.7 million).

Accordingly, the return on sales fell to 1.9 percent after 2.6 percent in the previous year. Earnings per share amounted to €0.26 (previous year: € 0.39).

Net worth

Asset and capital structure (€ million)

Assets	30/6/2020	31/12/2019
Fixed assets*	68.9	68.1
Inventories	31.4	28.3
Trade Receivables	23.4	24.0
Cash	22.8	20.9
Other assets	5.8	4.7
Total assets	152.3	146.0

Equity and Liabilities	30/6/2020	31/12/2019
Equity	76.7	75.1
Borrowings*	48.6	45.1
Employee benefits	7.9	6.0
Provisions	3.3	3.9
Trade payables	5.8	6.0
Payments received	4.5	4.2
Other equity and liabilities	5.5	5.7
Total equity and liabilities	152.3	146.0

*including right-of-use assets or liabilities from lease transactions in accordance with IFRS 16.

Total assets as at June 30, 2020 increased by 4.3 percent to €152.3 million (+ € 6.3 million) compared to December 31, 2019.

On the asset side, a moderate increase in non-current assets resulted from the progress of the investment in the new production site of Reisner Cooling Solutions in Holzwickede. Property, plant and equipment amounted to € 35.1 million at the balance sheet date (December 31, 2019: € 33.3 million).

Shifts in orders by customers and a corona-related build-up of inventories led to an increase in inventories at the end of the first half of the year compared with the turn of the year. While receivables fell by 2.6 percent to € 23.4 million, inventories, at € 31.4 million, were 11.2 percent higher than as at December 31, 2019. In addition, new borrowing of short-term funds led to an increase in cash and cash equivalents and at the same time to a rise in current assets (from € 76.2 million to € 81.7 million).

At the end of the first half of the financial year, the technotrans Group had healthy levels of cash and cash equivalents amounting to € 22.8 million (December 31, 2019: € 20.9 million). On the equity and liabilities side, equity capital of € 76.7 million was reported on the balance sheet date. This corresponds to an equity ratio of 50.4 percent (December 31, 2019: 51.4 percent). While trade payables, including advance payments received, remained unchanged at the level at the end of 2019, financial liabilities (including € 4.1 million in lease liabilities pursuant to IFRS 16) rose by € 3.5 million (+7.8 percent) to € 48.6 million. In connection with the structural measures implemented in the first half of the year, outstanding employee benefits also increased from € 6.0 million to € 7.9 million.

Financial position

Liabilities to banks amounted to € 44.6 million at the end of the reporting period (December 31, 2019: € 40.5 million). They are spread across several banks and are characterised by a balanced maturity structure. Net debt, calculated from financial liabilities less cash and cash equivalents, increased by 6.6 percent to € 25.8 million compared to December 31, 2019. In addition, financing funds from credit lines and loan commitments in the amount of € 13.5 million were available.

Cash flow (€ million)	HY1 2020	HY1 2019
Cash flow from operating activities	6.2	7.5
Net cash flow from operating activities	2.7	6.2
Cash flow from investing activities	–4.0	–5.2
Free cash flow	–1.3	1.1
Cash flow from financing activities	3.2	–6.0

Cash flow from operating activities realized in the period under review amounted to € 6.2 million compared to € 7.5 million in the previous year. Investments led to liquidity outflows of € -4.0 million (previous year: € -5.2 million). A significant portion of this is attributable to the final payment for the new termotek site in Baden-Baden and payments for the construction of the new site of Reisner Cooling Solutions in Holzwickede. As a result of the higher cash outflow in net working capital compared with the same period last year, free cash flow in the first half of 2020 was still negative at € -1.3 million (previous year: € 1.1 million). Compared with the first quarter of the current financial year, free cash flow improved by € 0.8 million.

SEGMENT REPORT

Development of the segments 2019/2020 (in € million)

-1,4 -0,7 0,0 0,7 1,4 2,1 Q1 - 0.3 Q2 1.1 - 0.4 - 1.2 › 2019 › 2020 EBIT Technology

		Technology		Services		technotrans Group
		HY1 2020	HY1 2019	HY1 2020	HY1 2019	HY1 2020	HY1 2019
EBIT margin	in %	- 1.0	–0.2	13.6	14.5	3.0	4.0
Q1	in %	- 0.8	2.9	14.5	15.0	3.4	6.3
Q2	in %	–1.2	–3.5	12.4	14.0	2.5	1.5

After a good start to the year, the revenue and earnings performance of the Technology segment was severely impacted by the corona pandemic in the second quarter of the financial year 2020. With revenue of € 31.4 million, no positive contribution on earnings (EBIT € -0.4 million) could be generated. Except for the growth markets, all other sub-markets declined noticeably in the second quarter.

At € 69.4 million, the segment's revenue contribution for the first six months was € 3.9 million (-5.3 percent) lower than in the previous year. At the end of the first half of the financial year, the share of consolidated revenue amounted to 73.0 percent (previous year: 71.5 percent). The segment result in the reporting period amounted to € -0.7 million (previous year: €-0.1 million). The EBIT margin fell accordingly from -0.2 percent to -1.0 percent. The downturn is mainly due to the COVIDrelated weak revenue and extraordinary structural costs for capacity adjustments, as well as extraordinary income from the termination of proceedings for the imposition of a fine (BaFin), which is allocated pro rata to the Technology segment. In total, these accounted for - € 1.0 million. Adjusted for these extraordinary effects, segment-related EBIT reached € +0.3 million with an EBIT margin of 0.4 percent, thus exceeding the previous year's figure.

Revenue for the Services segment reached € 25.7 million in the first half of the year and was thus 12.1 percent down on the prioryear level of € 29.3 million.

The corona-related lockdown in many of technotrans' sales markets, coupled with considerable travel restrictions for our international service engineers, had a particularly negative impact on the technotrans Group's service business in the second quarter of 2020. The area of Technical Documentation was also affected.

With an EBIT of € 3.5 million in the first six months (previous year: € 4.2 million), the Services segment continues to prove robust in terms of earnings. The segment EBIT margin decreased from 14.5 per cent to 13.6 per cent. Here extraordinary one-offs affected the segment's performance. Adjusted segment EBIT amounted to € 3.7 million with an EBIT margin of 14.5 percent (previous year: 14.5 percent).

Employees

As per June 30, 2020 the technotrans Group employed 1,445 people worldwide. This represents a decrease of 29 employees compared to December 31, 2019.

Based on the full-time employee equivalents (FTE), the number of employees has fallen to 1,270 since the beginning of the year. The Technology segment had 1,053 employees at the end of the reporting period. This represents a decrease of 17 persons compared to December 31, 2019. The Services segment had 392 employees at the end of the first six months compared with 404 at the end of 2019 financial year.

REPORT ON OPPORTUNITIES AND RISKS

Regarding the relevant risks to the technotrans Group's future development and the risk management implemented within the Group, we refer to the comments in the last Annual Report for 2019.

The current opportunity and risk profile of the five major risk Groups described there is currently as follows:

General and industry specific risks

In the period under review, technotrans identified the COVID-19 pandemic as a further significant risk in addition to the risks presented in the Annual Report. This gives rise to a considerable risk in respect of business operations and the further development of the business activities of the technotrans Group. In order to be able to react adequately and quickly to emerging risks, the relevant markets are being closely monitored. The development of revenue, liquidity and cost control are generally the focus of attention.

In order to ensure the continuation of business operations, the Group's crisis management reacted at a very early stage and proactively implemented comprehensive measures to protect employees against infection. As a result, the Group of companies has so far been spared from an infection with COVID-19 in its business operations and has been able to maintain its operations with restrictions but without interruption. Extensive travel arrangements, the cancellation of all relevant trade shows and conferences and restrictions on visits to customers not only restrict sales activities within the Group, but also the handling of existing customer projects. Depending on the continuation of these circumstances in the countries of final shipment, there will be obstacles to the generation of sales and the acquisition of new orders. Within Germany, the structural change in the automotive sector and the corona pandemic with its global economic effects mean that investment projects cannot be implemented as originally anticipated. From the current perspective, the Board of Management expects only delays and not a complete loss of business opportunities.

All leading forecasting institutes expect a downturn in the global economy in 2020, with regional differences. Nevertheless, the sentiment indicators towards the end of the first half of 2020 slightly brighter, demand for capital goods remains at a low level. The export-oriented German mechanical engineering industry is particularly affected by this. As far as technotrans is concerned, there are particular effects in the markets for commercial printing presses that can only be partially offset by higher sales of other printing processes or the other markets served. The general and industry specific risks have therefore increased and are now classified as high (previously: medium or low).

Corporate strategy risks

There has been no change in the overall corporate strategy risks.

This also applies to the recoverability of goodwill from acquisitions made in recent years. No unscheduled depreciation is required there.

The Board of Management therefore continues to assess the corporate strategy risks as low.

Financial risks

The financial risks include in particular the liquidity risk and the bad debt risk. technotrans continues to enjoy a solid financial position and financial performance.

In order to cushion potential negative liquidity effects on the financial markets caused by the corona pandemic, technotrans Germany has drawn short-term financial resources amounting to € 5 million and further increased its already comfortable level of cash and cash equivalents. This ensures that the company will always be able to act in the foreseeable future, even under the currently difficult conditions.

The effects of the COVID-19 pandemic are affecting almost all industries and the companies operating within worldwide. The bad debt risk/insurance risk on the debit side increases accordingly. Effective systems for monitoring creditworthiness, demanding collateral and the use of insurance solutions are supporting measures to minimise risk.

The financial risk has therefore increased due to the COVID-19 pandemic. The Board of Management therefore now assesses this risk as medium (previously: low).

Economic performance risks

The difficulties in introducing the ERP system at the Group company gwk have been overcome. The project was successfully completed. IT risks as part of this risk category are therefore downgraded from medium to low. Overall, the performance-related risks are still classified as low.

Legal risks

The assessment of legal risks has not changed and is still considered to be low. In March 2020, the fine proceedings initiated by the Federal Financial Supervisory Authority (BaFin) at the end of 2019 were closed with a much lower fine than expected. The release of the provision formed in the 2019 annual financial statements resulted in a one-off positive contribution to earnings of € 0.6 million. As of June 30, 2020, provisions of €1.9 million were set aside to cover warranty and product liability claims arising from customer complaints (December 31, 2019: € 1.8 million) as a risk prevention.

Overall statement by the Board of Management on the risk situation

The Annual Report 2019 concluded that there were no discernible risks that could jeopardise the technotrans Group's going concern, and that the Group is well placed to further extend its market position and grow globally in the medium term.

This assessment unalteredly remains valid.

Despite all the current limitations, the technotrans Group continues to have good prospects of achieving the growth it is strategically striving for. The statements made in the 2019 Annual Report are basically still valid, although numerous projects are being postponed due to the COVID-19 pandemic. This has a direct impact on the short and medium-term revenue and earnings situation.

In the medium and long term, the opportunities for future business development will be determined primarily by the successful implementation of the components of the Group strategy for the years 2020-2025.

Expected future general conditions

The COVID-19 pandemic will remain the main and determining factor for the development of global economic conditions in the remaining months of the 2020 financial year. As long as the pandemic cannot be contained by means of an effective vaccine, we expect the global economy to remain highly uncertain, which could be exacerbated in the short term by potential local hotspots.

Rising production figures in the manufacturing sector and improving sentiment indicators are countered by consistently high infection rates in the US and other major economies. The IMF is correspondingly cautious in its assessment of the shortterm prospects and has again revised growth rates for 2020 downwards in its June report.

As one measure to support economic development, the German government initiated a comprehensive economic stimulus package in June 2020. Among other things, this also provides for the promotion of hydrogen technology and electromobility.

Expected business performance of the Group

Following an anticipated start to the year in the first quarter of 2020, the business progress of the technotrans Group was severely hampered in the second quarter by the effects of COVID-19. Due to the still not fully assessable consequences of the pandemic on the global economy, the supply chains and the handling of projects at our customers, visibility for the second half of the year remains very limited.

The Board of Management has taken measures to mitigate the effects of the COVID-19 pandemic and to optimize liquidity and cash flow. The primary objective is to maintain the financial independence of the Group. In order to ensure that there will always be sufficient liquidity in the coming months, the Board of Management is therefore relying on the available liquid funds and previously unused financing reserves.

The technotrans strategy fundamentally remains geared towards strengthening its worldwide market position on a lasting basis through product innovations coupled with efficiency improvements, and towards increasing return in the medium term by optimising costs and working capital.

The diversification in terms of products and markets that technotrans has practised over the past ten years is paying off. In the current times, it brings about a stabilising spread of risk.

The corona-related stresses affect the production sites to varying degrees. Sales also developed in a heterogeneous manner: The serial business (e.g. the markets for printing periphery), which is characterized by shorter visibility, currently shows increased volatility due to COVID-19. The longer-term project business is much less affected. In this area, technotrans currently acquires promising sales contracts despite the corona crisis. This secures future revenue and earnings. The concrete effects from the economic stimulus and future development package of the German government cannot yet be specified with the necessary reliability. The contained elements of electromobility and hydrogen technology are being acknowledged positively by technotrans as the Group is well positioned in these markets and sees considerable potential in the future.

Building on this stable foundation, the Board of Management is maintaining the Group-wide strategic refocusing that is so important for technotrans, irrespective of the COVID-19 pandemic, under the guiding principle of "Shaping the future through development!".

This process, designed to run until 2025, will be consistently continued and will lead to an improvement in the earnings situation. In the future, the existing mid-term strategy for achieving consolidated revenue of € 250 to 300 million (of which approx. € 50 million from acquisitions) will be embedded in this strategy.

Due to the continuing global restrictions imposed by the fight against the COVID-19 pandemic, planning for the current fiscal year remains subject to a very high degree of uncertainty. This means that there is still no basis for a reliable forecast for the 2020 financial year.

In line with general market expectations for the second half of 2020, we also expect a noticeable decline in consolidated revenue and consolidated EBIT for fiscal year 2020 compared to the previous year. . Provided that there is no second lockdown due to the COVID-19 pandemic in the further course of business, a positive consolidated EBIT is expected. An adequate liquidity position is ensured. Our objective to generate a positive free cash flow by the end of the year remains valid.

A new forecast will be published as soon as this is possible with sufficient reliability.

CONSOLIDATED BALANCE SHEET

ASSETS
	30/6/2020	31/12/2019
	€ 000 | €000
Non-current assets
Property, plant and equipment	35,063	33,268
Right-of-use assets	3,388	3,846
Goodwill	23,513	23,513
Intangible assets	6,940	7,493
Other financial assets	170	185
Deferred tax	1,483	1,484
	70,557	69,789
Current assets
Inventories	31,417	28,257
Trade receivables	23,421	24,039
Income tax receivable	294	349
Other financial assets	1,583	733
Other assets	2,199	1,926
Cash and cash equivalents	22,812	20,910
	81,726	76,214
Total assets	152,283	146,003

EQUITY AND LIABILITIES
	30/6/2020	31/12/2019
	€ 000 | €000
Equity
Issued capital	6,908	6,908
Capital reserve	19,097	19,097
Retained earnings	55,456	49,367
Other reserves	–6,563	–6,394
Net profit for the period	1,781	6,089
Total equity attributable to technotrans SE shareholders	76,679	75,067
Non-current liabilities
Borrowings	33,054	33,760
Employee benefits	824	809
Other financial liabilities	2,111	2,607
Deferred tax	523	657
	36,512	37,833
Current liabilities
Borrowings	11,507	6,696
Trade payables	5,774	5,952
Prepayments received	4,465	4,242
Employee benefits	7,083	5,154
Provisions	3,280	3,891
Income tax payable	835	745
Other financial liabilities	3,338	2,991
Other liabilities	2,810	3,432
	39,092	33,103
Total equity and liabilities	152,283	146,003

CONSOLIDATED BALANCE SHEET

CONSOLIDATED INCOME STATEMENT

	1/4/ – 30/6/2020	1/4/ – 30/6/2019	1/1/ – 30/6/2020	1/1/ – 30/6/2019
	€ 000 | €000	€ 000 | €000
Revenue	42,977	49,522	95,138	102,591
of which Technology	31,401	35,218	69,435	73,337
of which Services	11,576	14,304	25,703	29,254
Cost of sales	–31,080	–35,928	–68,312	–72,162
Gross profit	11,897	13,594	26,826	30,429
Distribution costs	–4,782	–6,358	–10,756	–12,579
Administrative expenses	–4,387	–4,686	–9,599	–9,611
Development costs	–1,504	–1,911	–3,936	–3,966
Net impairment losses on financial and contract assets	–23	–43	–99	–242
Other operating income 1	288	538	1,310	1,018
Other operating expenses	–427	–369	–928	–950
Earning before interest and taxes (EBIT)	1,062	765	2,818	4,099
Financial income	14	13	14	13
Financial charges	–174	–156	–341	–329
Net finance costs	–160	–143	–327	–316
Profit before tax	902	622	2,491	3,783
Income tax expenses	–256	–163	–710	–1,076
Net profit for the period	646	459	1,781	2,707
of which:
Profit attributable to technotrans SE shareholders	646	459	1,781	2,707
Earnings per share (€)
basic/diluted	0.09	0.07	0.26	0.39

1 As part of a reclassification, the previous year's figures for revenues from personnel were retrospectively adjusted by € 236 thousand in the second quarter of 2020 and € 472 thousand in the first half of 2020.

CONSOLIDATED STATEMENT OF RECOGNISED INCOME AND EXPENSE

	1/4/ – 30/6/2020	1/4/ – 30/6/2019	1/1/ – 30/6/2020	1/1/ – 30/6/2019
	€ 000 | €000	€ 000 | €000
Net profit for the period	646	459	1,781	2,707
Other results
Items that were or must be reclassified to Income Statement
Exchange differences from the translation of foreign group companies	–43	–124	354	–29
Change in the amount recognised within equity (net investments in a foreign operation)	–107	16	–521	43
Change from first-time application of IFRS 16	0	0	0	–180
Change in the market values of cash flow hedges	1	–5	–2	–28
Deferred taxes	0	3	0	10
Change in the amount recognised within equity (cash flow hedges)	1	–2	–2	–18
Other result after tax	–149	–110	–169	–184
Overall result for the period	497	349	1,612	2,523
of which: Profit attributable to technotrans SE shareholders	497	349	1,612	2,523

CONSOLIDATED CASH FLOW STATEMENT

	1/1/ – 30/6/2020	1/1/ – 30/6/2019
	€ 000 | €000
Cash flow from operating activities
Net profit for the period	1,781	2,707
Adjustments for:
Depreciation and amortisation	3,498	3,464
Income tax expenses	710	1,076
Gain (–) / loss (+) on the disposal of property, plant and equipment	–16	–99
Foreign exchange losses (+)/ gains (–)	–116	5
Net finance costs	327	329
Other non-cash changes	0	–16
Cash flow from operating activities before working capital changes Change in:	6,184	7,466
Inventories	–3,160	–4,731
Receivables and other assets	–504	2,369
Other non-current assets	16	–14
Liabilities and prepayments	–286	3,794
Provisions	1,333	–758
Cash from operating activities	3,583	8,126
Interest received	14	0
Interest paid	–300	–291
Income taxes paid/income tax rebates	–568	–1,621
Net cash from operating activities Cash flow from investing activities	2,729	6,214
Cash payments for investments in property, plant
and equipment and in intangible assets	–4,046	–5,234
Proceeds from the sale of property, plant and equipment	61	78
Net cash used for investing activities Cash flow from financing activities	–3,985	–5,156
Cash receipts from the raising of short-term and long-term loans	7,750	4,061
Cash payments from the repayment of loans	–3,389	–2,786
Distribution to investors	0	–6,079
Cash payments from the repayment of lease liabilities	–1,189	–1,158
Net cash used in financing activities	3,172	–5,962
Net increase/decrease in cash and cash equivalents	1,916	–4,904
Cash and cash equivalents at start of period	20,910	15,566
Consolidation-related changes in cash and cash equivalents	–14	0
Cash and cash equivalents at the end of period	22,812	10,662

CONSOLIDATED STATEMENT OF MOVEMENTS IN EQUITY

	30/6/2020	31/12/2019
	€ 000 | €000
Equity at January 1st	75,067	75,244
Change in accounting policy	0	–194
Adjusted status as at January 1st	75,067	75,050
Net profit for the period	1,781	6,089
Other result	–169	7
Overall result for the period	1,612	6,096
Transactions with owners
Distribution of profit	0	–6,079
Transactions with owners	0	–6,079
Equity at the end of the period	76,679	75,067

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

Explanatory notes

Like the consolidated financial statements at December 31, 2019, the notes to the consolidated financial statements of technotrans SE at June 30, 2020 have been prepared in accordance with the International Financial Reporting Standards (IFRS) in force at the reporting date, and their interpretations, as applicable in the EU. These consolidated interim financial statements have been prepared in accordance with IAS 34 "Interim Financial Reporting" and should be read in conjunction with the consolidated financial statements published by the company for the 2019 financial year. technotrans prepares and publishes the consolidated financial statements in euros.

The results achieved in the interim reporting period do not necessarily allow predictions to be made about the further development of business. The COVID-19 pandemic and the associated material uncertainties have been considered, where relevant, in estimates and judgements. At present, there is no significant risk that the COVID-19 pandemic will lead to significant adjustments to the carrying amounts of reported assets and liabilities in the second half of financial year 2020. Additional information on the effects of the COVID-19 pandemic can be found in the interim consolidated financial statements.

The consolidated balance sheet, the consolidated income statement, the consolidated statement of comprehensive income, the consolidated statement of changes in equity and the consolidated cash flow statement for the reporting periods ending on June 30, 2020 and 2019 and the notes to the consolidated financial statements have neither been audited nor reviewed by an auditor.

The accounting, valuation and consolidation methods applied in the interim consolidated financial statements as of June 30, 2020 are essentially the same as those used in the consolidated financial statements at the end of the last financial year, with the exception of the accounting policies relevant or applied for the first time in the 2020 financial year.

The technotrans Group received government subsidies in the 2020 financial year pursuant to IAS 20. Due to the materiality of the grants, IAS 20 is applied for the first time. Government grants and subsidies in accordance to IAS 20 are only recognised at fair value if there is reasonable assurance that the conditions attached to them will be met and the grants will be received. The grants are recognised in the income statement and are generally recognised in the periods in which the expenses they are intended to compensate are incurred. Government grants for assets are offset against the acquisition and production costs of the subsidized asset and thus represent a reduction in acquisition costs. The grants are recognised in the income statement on a pro rata basis in the form of lower depreciation. In the financial year under review, the Group received a grant in the form of a redemption subsidy of € 257 thousand as part of an investment measure under the KfW Energy Efficiency Programme. This subsidy reduced the production costs of the business property in Baden-Baden.

In addition, the Group received reimbursements for social security expenses to be borne by the employer. The grants amounting to €166 thousand are recognised as a deduction from personnel expenses. There are no unfulfilled conditions or other uncertainties of success in connection with these grants. The Group was not directly favoured by other forms of public aid.

In the consolidated financial statements as of June 30, 2020, the simplification in the assessment of modifications to lease relationships in accordance with IFRS 16 was used. No assessment was made as to whether a rent concession in connection with COVID-19 constitutes an adjustment to a lease in accordance with IFRS 16. Instead, rental commitments are carried as variable lease payments. As of June 30, 2020, rental concessions resulted in income of €16 thousand recognised in the income statement. The endorsement of the amendment to IFRS 16 on accounting for rent concessions in connection with the COVID-19 pandemic has not yet been given. Due to the short-term nature of the amendment and the assumption that the endorsement will be made in the near future, the amendment to the standard will be applied early.

In the 2019 financial year, all six cash-generating units or Groups of cash-generating units were subjected to regular impairment tests in accordance with IAS 36.10, which did not result in any impairment loss. The outbreak of the COVID-19 pandemic represents a triggering event for the Group in accordance with IAS 36.12, because demand has fallen in the Company's most important sales markets and operations at individual customer sites had to be temporarily suspended as a result of general lockdown measures.

Due to the slump in revenue, the cash flow forecasts for the cash-generating units or groups of cash-generating units must be adjusted. An impairment test was carried out based on the new assumptions under consideration of the current development of the cost of capital. The valuation method is the same as that used for the impairment test in the 2019 financial year. The impairment test as of June 30, 2020 did not result in any need for impairment.

Deferred tax assets for deductible temporary differences are recognised in the amount of € 1,483 thousand, as the management assumes that sufficient taxable income will be available in the long term to enable these to be utilised. Individual plans were validated and the uncertainties, especially those caused by the COVID-19 pandemic, were taken into account.

Both the German government and governments of other countries in which technotrans has subsidiaries have introduced measures to stimulate the economy and other bridging measures to overcome the COVID-19 crisis. technotrans makes use of such measures wherever possible and appropriate. The utilisation of government support measures in connection with COVID-19, such as short-time work and the postponement of tax payments, resulted in liquidity effects and an improvement in earnings in the first half of the year.

For further information, please refer to the notes to the consolidated financial statements as of December 31, 2019.

Consolidated companies

The consolidated interim financial statements include technotrans SE and its 18 subsidiaries, which are fully consolidated and over which technotrans SE has the possibility to exercise control according to IFRS 10. There has been no change in the number of Group companies compared with December 31, 2019.

Report on post balance sheet events

On July 31, 2020 technotrans issued a press release announcing that the Supervisory Board had appointed Michael Finger as Spokesman of the Board of Management of technotrans SE with effect from August 1, 2020. Dirk Engel, who held this position on an interim basis from 2018 to 2020, will in future focus more strongly on his CFO role. At the same time, the company announced that Hendirk Niestert will not extend his mandate, which regularly ends in January 2021, and therefore resigns from the Board of Management. At the same time, Michael Finger took over responsibility for all sales units, service, quality management and marketing.

No further events of significance with an impact on the earnings, financial and asset situation occurred after the balance sheet date of June 30, 2020.

RESPONSIBILITY STATEMENT BY THE MANAGEMENT

To the best of our knowledge, and in accordance with the applicable reporting principles, the interim consolidated financial statements give a true and fair view of the assets, liabilities, financial position and profit or loss of the Group, and the interim management report of the Group includes a fair review of the development and performance of the business and the position of the Group, together with a description of the principal opportunities and risks associated with the expected development of the Group.

Sassenberg, August 10, 2020

technotrans SE The Board of Management

Dirk Engel Michael Finger Peter Hirsch Hendirk Niestert

Share price development from June 2019 to June 2020

TECHNOTRANS AT THE CAPITAL MARKET – THE SHARE

Total market

After an unprecedented slump in the global economy and stock markets in the first quarter, triggered by the COVID-19 pandemic, share prices have moved away from their lows of mid-March. Comprehensive monetary and fiscal policy measures worldwide and a tendency towards declining infection rates in Europe, accompanied by the easing of COVID-19-related restrictions, made investors more confident again. The DAX, for example, has recovered around 50 percent since its low for the year to date in March 2020 and at the end of June was quoted at a level of October 2019. The important stimulus indicators also developed positively in June. The purchasing managers' index for the euro zone improved by 15.6 points to 47.5 in June, but is still below the expansion threshold of 50. This also applies to Germany with an index increase from 13.5 to 45.8 points. The ifo business climate index also recovered significantly, reaching 86.2 points in June (+6.5 points). In contrast, the IMF further lowered its growth forecasts in its June report. Globally, he expects a decline in global GDP of 4.9 percent (April 2020: -3.0 percent). In relation to Germany, he expects a contraction of 7.8 percent (April 2020: 7.0 percent).

Performance of technotrans shares

Following the low of € 10.14 in the first quarter (XETRA closing price on March 20, 2020), the technotrans shares rose in the subsequent months of the reporting period. On June 30, 2020, they were quoted at €16.50 (XETRA closing price) and thus fell by -11.8 percent in the first six months of the 2020 financial year in relation to the closing price of €18.70 (XETRA as of December 30, 2019). The share price developed in a range between € 10.14 and € 20.85 in the reporting period.

Investor relations activities

Continuity and transparency remain important guidelines for investor relations work at technotrans, even in the wake of the COVID-19 pandemic. The members of the Board of Management and the IR department were available for numerous discussions with national and international, existing and potential investors and private shareholders, even under the applicable restrictions.

Due to COVID-19 conditions, dialogue took place exclusively in the form of telephone and video conferences. Restrictions also had to be accepted in the conference activities. Significant capital market conferences took place virtually, were postponed or cancelled.

Ad-hoc announcement of April 30, 2020

On April 30, 2020, technotrans issued an ad-hoc announcement concerning the amended proposal for appropriation of earnings prompted by the corona crisis, which did not provide for any dividend payment for the 2019 financial year. technotrans is fundamentally adhering to its dividend policy. In addition, due to the uncertain effects of the COVID-19 pandemic, the Board of Management withdrew its annual forecast for 2020. A new forecast will be announced as soon as this is possible with sufficient quality.

Shareholder structure

The shares of technotrans SE are held both by institutional investors and private shareholders. The composition of the institutional shareholders did not change significantly in the first six months of the financial year.

Since the beginning of the year, the share of voting rights has developed as follows based on notifications pursuant to Sections 33, 34 of the German Securities Trading Act (WpHG):

• › Midlin NV informed on March 4, 2020 about the increase in voting rights by 2.17 percentage points to 5.19 percent.
• › Universal Investments reported a change in the voting rights held from 3.01 percent to 2.99 percent on May 12, 2020.
• › LOYS Investment SA most recently reported voting rights of 5.2 percent on May 20, 2020.

The free float at the end of the reporting period amounted to around 64 percent.

Annual General Meeting

technotrans SE held its first virtual Annual General Meeting on May 20, 2020. The legal prerequisite for this was created by a recently established Act on mitigating of the consequences of the COVID-19 pandemic in civil, insolvency and criminal procedure law. This enabled the Annual General Meeting to take place on the originally planned date. Shareholders were able to submit questions, follow the Annual General Meeting online and exercise their voting rights via a specially created shareholder portal. With the aim of providing comprehensive information, the Board of Management and Supervisory Board commented on all submitted questions without exception at the Annual General Meeting. The presence of the voting share capital has reached a new all-time high of 57 percent. The shareholders approved all items on the agenda by a large majority.

FURTHER INFORMATIONEN

Shareholder structure at end of period in %

• › Freefloat: 64.4 %
• › Objectif Small Cap (F) : 5.3 %
• › Midlin NV/Teslin Capital Management (NL): 5.2 %
• › Gerlin NV/Teslin Capital Management (NL): 6.7 %
• › Loys Investment S.A. (LUX): 5.2 %
• › Allianz VIE S.A. (F): 5.1 %
• › Luxempart Pipe SARL (LUX): 5.1%
• › Universal-Investment-Gesellschaft (D): 3.0 %

IR Service

On our website https://www.technotrans.com/en/ investor-relations.html we offer you a comprehensive range of information on technotrans shares and the company.

Among other things, you will find current financial reports, analytical estimates, presentations, information on the Annual General Meeting, financial releases and the factsheet.

Note

The Interim Financial Report of technotrans SE at June 30, 2020 has been prepared in accordance with the International Financial Reporting Standards published by the International Financial Reporting Standards Board Accounting Standards Board (IASB) International Financial Reporting Standards (IFRS). It is in accordance with § 52 of the Exchange Rules for the Frankfurt Stock Exchange (FWB).

This interim financial report is published in German and English. The German version is always authoritative. This interim Group management report contains statements concerning the future development of the technotrans Group. They reflect the current views of the management of technotrans SE and are based on corresponding plans, estimates and expectations. We would like to point out that the statements contain certain risks and uncertainty factors that could lead to the actual results deviating significantly from the expected results. The figures and percentages contained in this report may be subject to rounding differences.

Directors' Holdings (Board of Management and Supervisory Board Members)

	30/6/2020
Board
Dirk Engel	22,500
Michael Finger	3,000
Peter Hirsch	2,000
Hendirk Niestert	1,756
Supervisory board
Andrea Bauer	0
Dr. Norbert Bröcker	250
Heinz Harling	64,854
Dr. Wolfgang Höper	0
Andre Peckruhn	76
Thorbjørn Ringkamp	385

FINANCIAL CALENDAR

Publication	Date
Quarterly release 1-9/2020	November 10, 2020
Event
Bankhaus Lampe Conference	August 18 – 19, 2020
Berenberg and Goldman Sachs Conference	September 22, 2020
German Equity Forum	November 16 – 18, 2020
Berenberg Pennyhill Conference	Dezember 2, 2020

Up-to-date information on events can be found on our website at the following address: https://www.technotrans.com/en/ investor-relations/financial-calendar.html.

IR CONTACT

Frank Dernesch Manager Investor Relations & Corporate Finance

Phone: +49 (0)2583-301-1868 Fax: +49 (0)2583-301-1054 Email: frank.dernesch@technotrans.de

GENERAL ENQUIRIES

technotrans SE Robert-Linnemann-Straße 17 48336 Sassenberg

Phone: +49 (0)2583-301-1000 Fax: +49 (0)2583-301-1054 Email: info@technotrans.de

Member of the technotrans group

www.technotrans.com