Altech Advanced Materials AG Revises Preliminary Annual Results for 2023

Altech Advanced Materials AG announced a revision of its preliminary annual results for the financial year ending December 31, 2023. Originally reported on January 23, 2023, the expected net loss has been corrected from 1,348 TEUR to 1,650 TEUR. This adjustment primarily stems from a reassessment of the Virtual Option Programme (VOP) launched in December 2023, aimed at employees and associated with the CERENERGY and Silumina Anodes projects. The company will recognize an expense of 304 thousand EUR for the VOP for 2023, potentially affecting half of this amount in liquidity to cover wage tax obligations.

The Program increases personnel expenses by 205 TEUR and other operating expenses by 99 TEUR, leading to a revised preliminary balance sheet showing equity of 5,039 TEUR. Despite this reevaluation, the updated net loss remains within the range of the Management Board’s last forecast for 2023, which anticipated a loss between 1.2 million EUR and 1.6 million EUR. These figures are subject to the final preparation of the annual financial statements, audit results, and approval by the Supervisory Board.