DGAP-News: Schaltbau Holding AG: Newly structured Syndicated Credit Agreement includes ESG component

Schaltbau Holding AG: Newly structured Syndicated Credit Agreement includes ESG component

Munich, 5 August 2021 - In view of its significantly improved profitability and balance sheet structure, Schaltbau Holding AG [ISIN DE000A2NBTL2] has signed a new Syndicated Credit Agreement with UniCredit Bank AG and Commerzbank AG as book runners. Moreover, DZ Bank AG, Landesbank Hessen-Thüringen, Oldenburgische Landesbank AG and Deutsche Bank AG are all involved as mandated lead arrangers or lead arrangers. Schaltbau will utilise the new Syndicated Credit Agreement to repay the existing agreement amounting to EUR 172 million prior to the due date. KfW is no longer part of the syndicate. The new agreement comprises revolving credit lines amounting to EUR 150 million with a term of three years and options to extend for up to two further years at substantially better conditions and without major restrictions on the use of the funds. For the first time, Schaltbau has entered into a credit agreement that includes an ESG component. Based on the annual Ecovadis sustainability rating, Schaltbau Holding AG can reduce the cost of the credit by achieving predefined targets.

"Sustainability and good, responsible corporate governance are part of our management principles and we strive to continuously improve," said Dr Jürgen Brandes, CEO of Schaltbau Holding AG. "The fact that we can also cut our credit financing costs by improving our sustainability rating is an additional bonus."

New Syndicated Credit Agreement with highly flexible financing

In the past, Schaltbau utilised its credit line in the context of liquidity management, for guarantees on major projects and to pre-finance projects. The new agreement, however, does not stipulate any significant restrictions on the use of the funds.

The Mandatory Convertible Bond issued in April with a volume of EUR 60 million, which is essentially earmarked to finance the construction of the NExT Factory as well as smaller acquisitions to strengthen the Group's core Rail business, has also significantly bolstered the structure of Schaltbau's balance sheet and given it greater financial headroom. At 30 June 2021, the equity ratio therefore stood at 38.0% (31 December 2020: 22.0%) and the debt-equity ratio dropped to 0.7 (31 December 2020: 1.9).

"The new Syndicated Credit Agreement gives us even greater flexibility in the use of our financial resources and lowers our financing costs," explained Steffen Munz, CFO of Schaltbau Holding AG. "Strategic investments and minor additional acquisitions will enable us to continue along our path of profitable growth within the framework of Strategy 2023 as planned."

About the Schaltbau Group

Schaltbau Holding AG (ISIN: DE000A2NBTL2) is listed in the Prime Standard segment of the regulated market of Deutsche Börse AG in Frankfurt am Main. With annual Group revenue in the region of EUR 500 million and around 3,000 employees, Schaltbau is an internationally leading supplier of systems and components in the field of transportation technology and the capital goods industry. With Pintsch, Bode, Schaltbau and SBRS as their core brands, Schaltbau Group companies develop a wide range of high-quality technologies and customer-specific technological solutions for rail infrastructure, rolling stock, passenger cars and commercial vehicles. As one of the few specialists for smart DC-based energy concepts, the Schaltbau Group is also a driver of innovation in the fast-growing markets of tomorrow such as New Energy / New Industry and E-Mobility.

To find out more about the Schaltbau Group, go to: https://schaltbaugroup.com

Contact

Investor Relations

Schaltbau Holding AG

Hollerithstraße 5

81829 Munich

T +49 89 93005-209

[email protected]