DGAP-News: New start of SYSTAIC: Founder assumes control of the company
(firmenpresse) - systaic AG / Change of Personnel/Half Year Results
09.08.2010 15:06
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
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* Michael Viktor Kamp appointed to Chief Executive Officer
of systaic AG
* Hawkpoint charged with restructuring
* Focus on SYSTAIC Energy Roof
* Half-year report to be published later, preliminary data are
available
* Year's forecast was adjusted
Michael Viktor Kamp was appointed to be a further Member of the Board of
Düsseldorf-based systaic AG with immediate effect. The Supervisory Board of
the technology company nominated him to be Chief Executive Officer late in
the evening of 6 August 2010. The 62 year-old Kamp founded SYSTAIC in 2004
and, as Managing Director of systaic Deutschland GmbH, led the SYSTAIC
Energy Roof, a roof-integrated energy system, to market maturity. Even
before the company's IPO in 2007, he had retired from the operating
business, but remained closely linked to systaic AG as a consultant and as
its biggest shareholder. Former CEO Michael Pack will take over the area
Marketing and Sales on the board.
The founder's entry to the board coincides with a challenging phase for the
company. 'From a present-day perspective, systaic AG is experiencing a
marked imbalance especially because of the intensive engagement in the
power generation sector,' Kamp states. 'As early as at the start of 2009,
it became evident that the company had grown extremely quickly and was
about to skyrocket - a development which I as the main shareholder allowed
to infect me, as well. With the construction and sale of big projects on
greenfield-sites, huge sales volumes could be quickly achieved, but
simultaneously, financing needs grew as well which, as a consequence from
the financial crisis, were hard to cover then. It is now crucial to
remember the company's roots and to restore solidity and full transparency
in the interest of all stakeholders of the company in the coming months. I
will devote myself to this challenge and responsibility to the best of my
ability.'
In support of the planned re-alignment, the new CEO appointed Hawkpoint as
restructuring and finance partner with immediate effect. Hawkpoint is a
leading independent Corporate Finance adviser, specialising in
restructurings, funding advisory and Mergers&Acquisitions with offices in
Frankfurt, London and Paris. Frank Jung, Managing Director of Hawkpoint
Germany: 'Our team consists of experienced international restructuring,
recapitalising and market experts. Numerous mandates, for example the
restructuring of the Icelandic banking system on behalf of the Icelandic
finance ministry, are examples of our successful work. We appreciate Mister
Kamp's entry to the Board of Management of systaic AG, a company hard hit
by the effects of the financial crisis. We will soon present an integrative
restructuring concept we compiled together with the board'.
Crucial for the future success is the SYSTAIC Energy Roof which was defined
to be the core product of the company. The firm thus is going back to its
roots: 'With our roof which has won numerous awards, we have a complete
energy system for the production of electricity and heat. Together with
complementary products like intelligent BUS systems, storage systems and
building materials, it is already possible to fully cover the energy needs
of a single-family home with it even today,' the new CEO explains. On top
of that, the SYSTAIC Energy Roof has good prospects for success not least
because of the political parameters: In May 2010, the EU parliament adopted
the new building directive and thus significantly increased the energetic
requirements of new buildings and renovations; in future, all new buildings
all over Europe are to produce at least the same amount of energy as they
use. Residential buildings, whether new or existing, which have an energy
roof instead of a tile roof, already fulfill these tightened regulations.
Due to the board changes, the report on the first six months of 2010 will
be published on 31 August. The preliminary half-year data are available,
though. They reflect the already consistently adopted restructuring course
and the re-alignment of the company which will, among other things, lead to
sales and revaluations of subsidiaries. On sales of about 14 million euros
(30 June 2009: 120.9 million euros), the group's earnings before interest
and taxes (EBIT) according to preliminary numbers is at about minus 28
million euros (30 June 2009: 3.8 million euros). As of 30 June 2010, total
assets of the group were at about 146 million euros versus 150.7 million
euros in the comparable period of the previous year. With consolidated
equity of about 58 million euros (30 June 2009: 65.3 million euros),
SYSTAIC reported an equity ratio of about 40 per cent as of 30 June 2010
compared to 43.4 per cent as of 30 June 2009.
Due to the business performance of the SYSTAIC Group up to now, the full
year forecast for the current fiscal year has to be adjusted. The
previously communicated sales target for 2010 of 250 million to 260 million
euros included several big projects whose realisation is no longer
feasible. Sales expectations now reach from 25 to 35 million euros. A
positive group result after taxes can now no longer be expected. A detailed
forecast can only be given in the further course of the year. However, the
management expects to successfully close the first restructuring phase
until the end of the current fiscal year and to be able to announce a
positive development for 2011.
For additional information on Michael Viktor Kamp:
* 'Desertec oder Citi-Net?' podium discussion with Michael Viktor Kamp on
Center TV (in German language):
http://www.systaic.de/podiumsdiskussion.html
* IR site 'Corporate Bodies' with details on vita:
http://www.systaic.de/investorrelations-de/corporate-governance/systaic-or
gane.html
www.systaic.com
About systaic AG:
systaic AG specialises on efficient and at the same time aesthetic solar
solutions: The most important core product for consumers is the SYSTAIC
Energy Roof for buildings which generates electricity and heat from solar
energy. Building-integrated industrial solutions are a focus of the
portfolio in the large-scale segment. systaic AG was founded in November
2004 and has been listed on the Frankfurt stock exchange since March 2007,
since September 2008 in the Prime Standard. The company currently employs
about 150 people.
Contact:
systaic AG
Achim Zolke
Head of Corporate Communications
Benrather Straße 18-20
40213 Düsseldorf
Germany
Phone: 0049-211-828559-12
Fax: 0049-211-828559-229
a.zolke(at)systaic.com
www.systaic.com
09.08.2010 15:06 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: systaic AG
Benrather Straße 18-20
40213 Düsseldorf
Deutschland
Phone: +49 (0)211 828559-0
Fax: +49 (0)211 828559-29
E-mail: ir(at)systaic.com
Internet: http://www.systaic.de
ISIN: DE000A0JKYP6
WKN: A0JKYP
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Düsseldorf, Berlin, Stuttgart
End of News DGAP News-Service
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Datum: 09.08.2010 - 15:06 Uhr
Sprache: Deutsch
News-ID 31918
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