3U HOLDING AG (ISIN DE0005167902) has sold its stake in InnoHubs GmbH to co-partner WüWi Beteiligungsgesellschaft mbH, Wuerzburg. A contract on the transaction was signed on 2 June 2022 and completed as expected by 1 September 2022. The strategic goal of increasing value for the stakeholders of 3U was thus successfully implemented also with this project.

In line with the progress of the construction project, the balance sheet total of the 3U Group had increased significantly in recent months. With the closing of the sale of the investment, this development is reversed and the balance sheet total decreases again. Significant effects are in particular the deconsolidation of the pertinent property, plant and equipment and a significant reduction in the short-term receivables from buyers of space associated with the construction project. At the same time, the inflow of the purchase price of EUR 6.5 million and the repayment of the loan granted to InnoHubs GmbH improve the available liquidity position of the group.

In line with the progress of the construction project, the balance sheet total of the 3U Group has increased significantly in recent months. With the completion of the sale of the stake in InnoHubs, this development will reverse, and the balance sheet total will decrease again. Subsequent effects are in particular the derecognition of property, plant and equipment and a significant reduction in the short-term receivables from buyers of space associated with the construction project. At the same time, the inflow of the purchase price will improve the group’s available liquidity position.

The deconsolidation of the property development loan reduces liabilities to banks at group level and the income from the sale contributes to strengthening equity. At the same time, the minority interests in equity are reduced by the other shareholder’s share in the sold InnoHubs GmbH. The equity ratio will therefore increase significantly due to the reduction in the balance sheet. Effects on earnings and other balance sheet changes as a result of the sale will also be shown in detail in the Q3 consolidated financial statements as of 30 September 2022, as will the deconsolidation of weclapp SE and its subsidiaries ITscope GmbH and FinanzGeek GmbH.

The Management Board emphasises that the balance sheet effects of this transaction do not significantly exceed or fall short of their estimates in the planning. In connection with the sale of weclapp SE to a subsidiary of Exact Group B.V. agreed on 3 September 2022, the sale of the shares in InnoHubs GmbH also supports the expectation that the earnings forecasts for the 2022 financial year will be exceeded to a considerable extent.

The deconsolidation of the property developer loan significantly reduces liabilities to financial institutions at group level. The other income from the sale contributes to strengthening equity. At the same time, the minority interests in equity are reduced by the co-partner’s share in the sold InnoHubs GmbH. As a result, and due to the balance sheet contraction, the equity ratio will increase noticeably.

"Our declared corporate purpose is to increase value for our shareholders and all stakeholders," emphasises Uwe Knoke, responsible for strategy and business development on the Management Board of 3U HOLDING AG. "With diligent analysis, we identify projects, participations and investment opportunities with value enhancement potential and, if possible, develop them to successful completion. The InnoHubs project is another example of such a profitable venture. The gratifying current inflow of funds considerably expands our room for manoeuvre, and we will know how to use it responsibly."

Über die 3U HOLDING AG

3U HOLDING AG (www.3u.net) has its headquarters in Marburg, Germany, and was founded in 1997. It is the operating management and investment holding company at the head of the 3U Group For the purpose of increasing value for its shareholders, employees, customers, suppliers and all stakeholders, it acquires, operates and sells companies in the three segments ITC (Information and Telecommunications Technology), Renewable Energies and SHAC (Sanitary, Heating and Air Conditioning Technology).The 3U Group has successful and profitable business models based on megatrends in all three segments and is striving to achieve leading positions in the market, in particular with its e-commerce business area.

3U HOLDING AG’s shares are traded on XETRA, Tradegate and on the German regional stock exchanges (ISIN: DE0005167902; identifier: UUU).

Firmenkontakt und Herausgeber der Meldung:

3U HOLDING AG
Frauenbergstraße 31-33
35039 Marburg
Telefon: +49 (6421) 999-0
Telefax: +49 (6421) 999-1222
http://www.3u.net

Ansprechpartner:
Dr. Stephanie Nickel
Investor Relations Managerin
Telefon: +49 6421 999-2211
Fax: +49 6421 999-1222
E-Mail: nickel@3u.net
Dr. Joachim Fleing
Head of Investor Relations
Telefon: + 49 6421 999-1200
Fax: + 49 6421 999-1222
E-Mail: fleing@3u.net
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