EQS-Adhoc: Brockhaus Technologies AG: Non-cash impairments in the 2024 annual and consolidated financial statements

Brockhaus Technologies AG: Non-cash impairments in the 2024 annual and consolidated financial statements

Frankfurt am Main, July 16, 2025

Brockhaus Technologies AG (“Brockhaus Technologies” or the “Company,” ISIN: DE000A2GSU42) today has recognized non-cash impairments in its annual and consolidated financial statements as of December 31, 2024, based on external valuation opinions by PwC. These accounting adjustments do not have a material impact on the preliminary revenue and adjusted EBITDA figures published on March 7, 2025, nor do they affect the cash flow. However, they do reduce consolidated net income, annual net income and equity.

In the 2024 consolidated financial statements, the goodwill of the Security Technologies segment (IHSE), previously valued at €80 million, was impaired by €40 million to €40 million. In addition, certain intangible assets recognized during the acquisitions of IHSE and kvm-tec (PPA assets) were impaired by €8 million. In the 2024 statutory annual financial statements of Brockhaus Technologies AG, the shares in IHSE – reported under financial assets – was impaired from €96 million by €45 million to €51 million.

Additionally, inventories at IHSE were written down by €1 million. This has a minor impact on adjusted EBITDA.

In fiscal year 2023, a portion of the Company’s shares in Bikeleasing was contributed to a wholly owned subsidiary of Brockhaus Technologies AG, thereby realizing hidden reserves. As a result, these shares were carried at a value significantly above their original acquisition cost. As of December 31, 2024, these transferred shares were impaired from €70 million by €23 million to €47 million. Despite the impairment, their carrying amount remains well above the original acquisition cost of €22 million. The remaining shares in Bikeleasing, which continue to be carried at original acquisition cost, remain fully recoverable.

As a result of the non-cash impairments recorded in the 2024 statutory annual financial statements, retained earnings have been fully depleted. Therefore, the Executive Board and Supervisory Board will not be able to propose a dividend distribution at the 2025 Annual General Meeting.

With regard to the delayed publication of the 2024 annual and consolidated financial statements, the Company is working closely with the auditor to finalize the remaining audit procedures as quickly as possible. The publication date for the 2024 financial statements and the date of the Annual General Meeting will be announced as soon as possible.

Contact:

Brockhaus Technologies – Florian Peter

Phone: +49 69 20 43 40 90

Fax: +49 69 20 43 40 971

Email: ir@brockhaus-technologies.com