DGAP-News: ​​​​​​​MAX Automation SE decides to close iNDAT Robotics and continues to adapt its strategy

PRESS RELEASE

MAX Automation SE decides to close iNDAT Robotics and continues to adapt its strategy

Dusseldorf, 8 February 2022 - MAX Automation SE (ISIN DE000A2DA58), a company listed in the Prime Standard of the Frankfurt Stock Exchange, is disposing of its persistently loss-making subsidiary iNDAT Robotics GmbH. Despite considerable efforts to achieve a turnaround by both the management and employees, it was not possible to generate sustainable positive earnings. The corona pandemic and the automotive crisis have further intensified iNDAT's situation after it was already exposed to high price and competitive pressure inherent in its business model. In addition to the operating losses expected for 2021, MAX Automation SE has budgeted an amount of a similar magnitude for its liquidation.

Around 100 employees are affected by the closure of iNDAT Robotics GmbH. A reconciliation of interests as well as a social plan are being negotiated with the works council and are intended to mitigate the consequences of the job losses. Liquidation is to take place after the orderly termination of customer projects.

"We deeply regret having to close iNDAT, in view of the losses in the past years and the lack of prospects for a turnaround, we unfortunately no longer see any possibility to continue the company, however. In the interest of the MAX Group, we must consistently divest ourselves of companies that hinder the growth of the other subsidiaries and endanger the Group. The goal is to generate attractive cash flows and to generate additional funds, through disposals of portfolio companies, for example, in order to achieve a regular dividend for our shareholders in the future. We are taking a very targeted approach to this," said Dr. Christian Diekmann, CEO/CFO of MAX Automation SE.

Contact:

Marcel Neustock

Investment Management

Phone: +49 - 211 - 9099 110
[email protected]
www.maxautomation.com

Contact for media representatives:

Susan Hoffmeister

CROSS ALLIANCE communication GmbH

Phone: +49 - 89 - 125 09 03 33
[email protected]
www.crossalliance.de

About MAX Automation SE

MAX Automation SE, headquartered in Düsseldorf, is a medium-sized finance and investment company focused on the management and acquisition of investments in growth companies operating in niche markets. The present portfolio of companies consists of ten portfolio companies and their respective subsidiaries (if applicable) which develop, manufacture, and distribute a diversified portfolio of technologically complex machinery, equipment, and integrated automation solutions as well as complementary services such as consulting, production support, maintenance, and repair for their customers both in Germany and internationally. The products and solutions of the portfolio companies are used in various end industries and for numerous industrial applications, including automotive, electronics, recycling, raw materials processing, packaging, and medical technology industries. MAX Automation SE has been listed in the Prime Standard of the Frankfurt Stock Exchange since 2015 (ISIN DE000A2DA58) and generated sales of 307 million euros in 2020.

www.maxautomation.com

Legal Notice

To the extent that projections or expectations are expressed in this press release or statements relate to the future, such projections or expectations of the statements may involve known or unknown risks and uncertainties. Actual results or developments may differ depending on changes in general conditions. Neither MAX Automation SE nor any of its affiliated companies assume any obligation to update any forecasts, expectations or statements contained in this release.