Outlook

Due to the global economic situation, in particular with regarding to construction materials in Europe, it is extremely difficult to estimate output in the second half of 2023. The order situation is at a low, and we will slow down production capacities so as not to tie up even more capital in inventories. Fixed costs cannot be reduced to the same extent, which further burdens the cost situation for now. If demand increases, we can respond quickly and ramp up production again. Due to slower production, we expect a reduction in inventories and also in accounts receivable. Although the reduction in working capital will have a positive impact on liquidity, the loss situation will diminish this impact.

We are working on a concept to reduce the high debt burden with the associated interest in order to obtain opportunities for targeted investments in value chain and growth.

On behalf of the Board of Directors and Management

Markus Brütsch

Chairman of the Board of Director

Fabian Leu

co-CEO / CTO

Markus Pfannkuch

co-CEO / CSO