30 Mar 2007
Consolidated financial statement 2006 und capital increase
In 2006, Spirt Avert AG has successfully finished its restructuring. Out of its Chinese industrial activities, consolidated revenues have grown from CHF 2.8 million to CHF 6.6 million, an increase of 136%.
The consolidated gross profit for financial year 2006 amounted to CHF 1.3 million compared to CHF 1.4 million loss in the previous year.
Spirt Avert AG has reduced the company’s consolidated annual loss of CHF 8.2 million in 2005 to CHF 2.2 million in 2006, amounting to a reduction of 73%.
The loss per bearer share was thus reduced from CHF 11.81 in 2005 to CHF 0.88 in 2006.
Post balance sheet events: First capital increase for Spirt Avert AG
From the authorized capital, 1,034,976 bearer shares were offered for subscription at CHF 20.00 per share with the result that the company received CHF 20.7 million for investment projects. Full payment of CHF 20.7 million has taken place by 28 March 2007.
Subscription rights for shareholders were ruled out. During the past 18 months, the maximum price paid for Spirt Avert AG bearer shares has never risen above CHF 15.20.
Outlook for 2007
Spirt Avert will focus on creating the industrial investment holding as announced earlier.
The current political and economic climate in Switzerland provides an excellent environment for utilizing industrial and entrepreneurial skills. Spirt Avert can be seen as an aggressive and focused entity that is in a very good position to take advantage of the opportunities as they come.
As far as medium and long term industrial stake holdings in potential stock market candidates are concerned, the company will report when the time is ready.
In order to further accelerate the expansion of the company, the Board of Directors will propose the creation of newly authorized capital to the forthcoming General Meeting of Shareholders.
The Annual Report will be available for download as of 12 April 2007 under: http://www.spirtavert.ch/investor_relation
For further information please contact:
Mr. Lorenzo Schmid, Chairman of the Board
Phone +41 41 368 98 38
lorenzo.schmid@mindsetholding.ch
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