EQS-Adhoc: EEII AG: EEII AG publishes annual results 2020
Ad-Hoc Information: EEII Annual Results Zug, April 28, 2021EEII AG reports on the annual results 2020EEII is reporting a loss for the fiscal year 2020 of CHF 2'909'222 (2019: profit CHF 2'763'927). The impact of the Covid-19 pandemic has weighed heavily on the valuation of EEII's assets. By the end of the year, the company's last investment - Gazprom - was down 38 % or CHF 2'256'000 for the period. While EEII's operating expenses fell slightly to CHF 395'500 (2019: CHF 422'900), dividend income also dropped 24.6 % to CHF 235'500 (2019: CHF 312'500). The net asset value (NAV) as of December 31, 2020, fell by 38.3 % to CHF 3.06 per share (2019: CHF 4.96). As reported earlier, EEII AG is going through a transformative period, with the agreed change in ownership still pending.
2020 has been a disruptive year for many and certainly a decisive one for EEII AG. Following the strategic decision to sell all of its investments in Ukraine and in KAZ Minerals PLC, the company regrouped its balance sheet, with only one investment remaining - Gazprom. The holding in the Russian energy company remains, despite the difficult market conditions in the energy sector, a substantial source of cash flow to cover the operating expenses.
The pending change in EEIIs ownership opens new opportunities for the company and its shareholders. After the closing of the transaction between Gehold AG, Zug and NACALA WORLDWIDE AG, Luzern, a new investment focus is likely to be rapidly implemented. The Board of Directors expects the transaction to close on or before September 17, 2021.
The full annual report for 2020 as well as more detailed information are available for download under www.eeii.ch; a printed copy can be sent to the shareholders upon demand.
EEII AG's Annual General Meeting will take place May 27, 2021, at 11.00h at the registered office of the Company. The Covid-19 regulations of the Federal Office of Public Health apply. For comprehensive information about the AGM, please refer to: www.eeii.ch
For further information, please contact: Marcus H. B?hler, CEO (Tel: +41-44-552 43 43). EEII is quoted on the Swiss Exchange (SIX) (Bloomberg: EEII SW Equity).
End of ad hoc announcement Language: English Company: EEII AG Alpenstrasse 15 6304 Zug
Switzerland Phone: +41 41 729 42 80 Fax: +41 41 729 42 29 E-mail: email@example.com Internet: www.eeii.ch ISIN: CH0007162958 Valor: 940179 Listed: SIX Swiss Exchange EQS News ID: 1190024 ? End of Announcement EQS Group News Service