05.05.2017 By: Wilfried Seywald

True memory: dexwet before reboot

In memory of the deceased Dexwet inventor, founder and board member Erich Peteln, the annual general meeting for the 2016 financial year took place on 28 April in Vienna. Despite the general concern, the Management Board was able to convey a great deal of confidence for the future to the attending shareholders. After the turnaround, dexwet plans a capital increase for 2017 and profits for the first time.

Dexwet CEO Clemens Sparowitz explained the balance sheet presented in 2016, according to which operating revenues could be increased again by 46%. The balance sheet loss was reduced by around 81% to EUR 289,000. On the cost side, a rigorous savings program was implemented in the second half of 2016, so that in the fourth quarter of 2016, the company was able to report on the operational turnaround and the overcrowding of fixed costs.

At the end of the turnaround phase, the Management Board submitted two capital increases to the shareholders' meeting with the exclusion of the subscription rights for other shareholders. Only shareholders who have contributed to the ordinary accounting in 2016 within the scope of the special financing measures were granted a subscription right to a total of around 10% new shares. Both capital measures were approved unanimously by the Annual General Meeting.

"We will continue the work of Erich Peteln and help the dexwet technology to true size and meaning, according to the claim "True Filter Solutions"," CEO Sparowitz promised.

Company speaker

Mag. Clemens Sparowitz, CEO
Dexwet International AG
Techgate Vienna
Donau-City-Straße 1, 1220 Wien
Cell +43 (0) 699 1072 7575

External communications

Dr. Wilfried Seywald, PR & IR
Temmel, Seywald & Partner
Josefstädter Straße 44, 1080 Wien
Tel. +43 (0)1 4024851-0
Fax +43 (0)1 4024851-18

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