OTI Greentech AG Reports Preliminary Financial Results for 2023

OTI Greentech AG, the international provider of innovative and sustainable chemical products and services, announced a preliminary revenue total of EUR 17.65 million for 2023. This figure slightly surpasses the company's forecasted revenue of EUR 17.3 million. The positive development in sales was attributed to strong performances in the maritime division, Uniservice, and the USA based KMI Cleaning Solutions, both of which achieved record sales figures.

Despite the growth in sales, the Group's EBITDA for the year remained slightly negative, diverging from the anticipated positive EBITDA. This result was influenced by the initial heavy set-up costs of the KMI Industrial Services Division, which decreased in the second half of 2023 but still did not compensate entirely for the losses sustained earlier in the year. On the other hand, the subsidiaries reported a collective operating EBITDA of around EUR 0.5 million after excluding group allocations.

OTI Greentech anticipates releasing its full financial results and the 2023 Annual Report on June 28, 2024, on their official website.