Ekotechnika AG appoints new Executive Board member and reports positive performance in financial year 2015/2016

Inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014

Ekotechnika AG appoints new Executive Board member and reports positive performance in financial year 2015/2016

25 January 2017 Ad hoc Announcements

  • Björne Drechsler to join management team effective 1 March 2017
  • Financial year 2015/2016 saw business operations stabilise
  • EBIT of EUR 5.3 million and sales revenues of EUR 117.2 million

Walldorf, 25 January 2017 – The Supervisory Board of Ekotechnika AG (primary market; ISIN: DE000A161234), the German holding company of the EkoNiva-Technika Group, the largest dealer of international agricultural machinery in Russia, has announced the appointment of an additional member to its Executive Board. As of 1 March 2017, Björne Drechsler will serve as new Executive Board member and CFO of Ekotechnika AG, working alongside CEO Stefan Dürr, the current sole director.

Mr Drechsler previously served as managing director and CEO of GEA Farm Technologies Russia, a Russian subsidiary of the German GEA group, for twelve years. In the past 18 months, he was also responsible for the Equipment Sales activities of GEA group in Russia and Central Asia. A business studies graduate from HWR Berlin, who speaks Russian fluently and is very much familiar with the agricultural equipment business thanks to his long-standing experience in selling GEA process technology in the country.

Moreover, the Supervisory Board has approved Ekotechnika AG’s consolidated financial statements for the past fiscal year 2015/2016 (30 September) which show that the company’s business performance has continued to stabilise. According to the statements, Ekotechnika AG is reporting consolidated sales revenues of EUR 117.2 million (previous year: EUR 109.0 million) as well as a clearly positive operating result (EBIT) of EUR 5.3 million (previous year: EUR -1.2 million).

The detailed group financials as well as the complete consolidated financial statements are to be published at www.ekotechnika.de/en/investor-relations/financial-publications/ on 2 February 2017.