EnWave Acquires Remaining 49% Non-Controlling Interest in NutraDried LLP

EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the "Company" – https://www.youtube.com/…) today announced it has purchased an additional 49% interest in NutraDried LLP (“NutraDried”) and now owns 100% of the business. The 49% was sold by NutraDried Creations LLP (“Creations”), a Washington State concern. Total cash consideration for the acquisition was US $1,800,000 (CAD $2,266,000) (the “Acquisition”).

NutraDried has been the most profitable business unit for the Company. Fiscal 2017 net income was $716,000 and revenues were $6,556,000. Based on the $2,266,000 purchase price for the 49%, the purchase price multiples were 6.5 times income and 0.7 times revenues.

EnWave expects NutraDried to continue contributing positive earnings, revenue growth and cash flow for the Company. NutraDried’s revenues have been increasing each year, reporting $6,556,000 for fiscal year 2017, up 30 times in three years from $221,000 in 2014, its first year of operations.

The Acquisition enhances EnWave’s strategy to commercialize its industry-leading Radiant Energy Vacuum (“REV™”) dehydration technology on a global basis. NutraDried has served as an integral sales tool for the Company as it showcases the commercial viability of REVTM in the consumer-packaged goods sector. To date, EnWave has leveraged the success of NutraDried’s Moon Cheese® product to attract eight other companies to sign royalty-bearing commercial license agreements for cheese snack production internationally. Additionally, the high-volume, continuous nutraREV® line has de-risked the technology investment for prospective royalty partners.

The Acquisition will allow NutraDried to pursue additional product opportunities using its installed 100kW nutraREV® processing line, including new product line extensions, and will demonstrate the value proposition for using REV™ to introduce new healthy snacking alternatives. It is not EnWave’s intent to compete directly with current or prospective royalty partners; rather, the Acquisition will allow the Company to develop new product demonstration concepts to promote further and more rapid commercialization for REVTM products.

EnWave’s primary business focus will continue to be its royalty-licensing business model and the rapid deployment of REV™ machinery for use in multiple market verticals around the globe.

NutraDried manufactures and distributes Moon Cheese®, an all-natural dried cheese snack produced using REVTM technology. NutraDried produces Moon Cheese® in cheddar, gouda, mozzarella and pepper jack flavours at its manufacturing facility located in Ferndale, Washington, and distributes it in over 20,000 retail locations across Canada and the United States. Notable retail points of distribution include Starbucks, Target, Rite Aid, CVS, Safeway, Loblaws, Save-On-Foods, and most recently, Costco’s Midwest division.

About EnWave
EnWave Corporation, a Vancouver-based advanced technology company, has developed Radiant Energy Vacuum (“REV™”) – an innovative, proprietary method for the precise dehydration of organic materials. EnWave has further developed patent-pending methods for uniformly drying and decontaminating cannabis through the use of REV™ technology, shortening the time from harvest to marketable cannabis products.

REV™ technology’s commercial viability has been demonstrated and is growing rapidly across several market verticals in the food, and pharmaceutical sectors including legal cannabis. EnWave’s strategy is to sign royalty-bearing commercial licenses with industry leaders in multiple verticals for the use of REV™ technology. The company has signed over twenty royalty-bearing licenses to date, opening up nine distinct market sectors for commercialization of new and innovative products. In addition to these licenses, EnWave has formed a Limited Liability Partnership, NutraDried LLP, to develop, manufacture, market and sell all-natural cheese snack products in the United States under the Moon Cheese® brand.

EnWave has introduced REV™ as the new dehydration standard in the food and biological material sectors: faster and cheaper than freeze drying, with better end product quality than air drying or spray drying. EnWave currently has three commercial REV™ platforms:

1. nutraREV® which is used in the food industry to dry food products quickly and at low-cost, while maintaining high levels of nutrition, taste, texture and colour;

2. powderREV® which is used for the bulk dehydration of food cultures, probiotics and fine biochemicals such as enzymes below the freezing point, and

3. quantaREV® which is used for continuous, high-volume low-temperature drying.

An additional platform, freezeREV®, is being developed as a new method to stabilize and dehydrate biopharmaceuticals such as vaccines and antibodies. More information about EnWave is available at www.enwave.net.

EnWave Corporation
Dr. Tim Durance
President & CEO

For further information:

John P.A. Budreski, Executive Chairman at +1 (416) 930-0914
E-mail: jbudreski@enwave.net

Brent Charleton, CFA , Senior Vice President, Sales and Business Development at +1 (778) 378-9616
E-mail: bcharleton@enwave.net

Deborah Honig, Corporate Development, Adelaide Capital Markets at + 1 (647) 203-8793
E-mail: dhonig@enwave.net

Safe Harbour for Forward-Looking Information Statements: This press release may contain forward-looking information based on management’s expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company’s strategy for growth, product development, market position, expected expenditures, and the expected synergies following the closing are forward-looking statements. All third party claims referred to in this release are not guaranteed to be accurate. All third party references to market information in this release are not guaranteed to be accurate as the Company did not conduct the original primary research. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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ISRA announces stock split and higher dividend – Further acquisitions targeted

ISRA VISION AG (ISIN: DE 0005488100), one of the world’s top companies for industrial image processing (machine vision) and a global leader in surface inspection of web materials and 3D machine vision applications, has announced that the Executive Board and the Supervisory Board will be proposing a stock split at the Annual General Meeting on March 28, 2018. Following an capital increase from company funds, each shareholder will receive four more ISRA shares at no charge. For every share held before the split, shareholders will thus own five shares after the split. The share price will be divided by five accordingly. Shareholders’ voting rights or the company’s market capitalization or equity will not be affected.

Furthermore, the Executive Board and the Supervisory Board will continue the sustainable dividend policy of past years and will be proposing a dividend of EUR 0.59 per current share at the Annual General Meeting for the 2016 / 2017 financial year. ISRA is therefore increasing its dividend for the eighth time in a row to allow its shareholders to successively participate directly in the company’s operational development.

The integration of Polymetric GmbH, which was acquired in January 2018, is progressing rapidly. In addition to this technologically motivated takeover, as announced in December 2017, the company is continuing its strategy of further growth through acquisitions in addition to organic business expansion. Several acquisition projects are in progress and some are at an advanced stage. The company is assuming one further deal in the current financial year.

After a good start into the new 2017 / 2018 financial year, ISRA is still gearing its strategic and operational planning towards structural expansion in all areas of the company in preparation for the next big step in revenues beyond EUR 200 million. Management is planning low double-digit revenue growth for the 2017 / 2018 financial year, as in the previous year, with margins at least remaining stable. The company will publish a detailed forecast at the end of February 2018.

 

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Strategy 2022: Jenoptik will intensify its focus on key competencies in photonics

 

 

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• New records for 2017: revenue of around 748 million euros (+9.2 percent) and EBIT of almost 78 million euros (+17.6 percent)
• Target for 2018 is to increase revenue with further rise in profitability above previous forecast
• New Group strategy is based on more focus, innovation, and internationalization

Jenoptik achieved new record figures in the fiscal year 2017. According to provisional calculations, revenue grew 9.2 percent to around 748 million euros (prior year 684.8 million euros). EBIT improved at a faster rate than revenue, to just under 78 million euros (prior year 66.2 million euros), equating to an EBIT margin of 10.4 percent (prior year 9.7 percent). Jenoptik saw a strong fourth quarter in terms of order intake; over the full year, the company received new orders with a combined value of approximately 803 million euros (prior year 733.8 million euros). Overall very good business performance was facilitated by strong demand from the semiconductor equipment industry and, on a regional level, strong growth in the US. Despite a substantial increase in capital expenditure, the free cash flow remained at a good level of around 72 million euros (prior year 79.4 million euros). “Our highly encouraging performance and solid financial resources let us look into the future with a lot of optimism,” says Stefan Traeger, President & CEO of JENOPTIK AG since May 1, 2017.

Focus on photonic technologies

The new strategy will enable a clearer focus on photonic technologies in all of the company’s initiatives and developments: “In a nutshell, this is Jenoptik’s strength and its core area of expertise: our photonics-based products and services provide our customers with the competitive edge they need. We’re going to concentrate our work on applications for attractive and promising photonic markets and continue to develop our business by focusing on ‘More Light’,” says Stefan Traeger. Areas of particular interest for Jenoptik will include information processing, smart manufacturing, sensing and metrology, as well as biophotonics.

The future organizational structure will shore up the focus on photonic technologies for high-growth markets and combine activities based on equal business models and a similar understanding of markets and customers. The OEM business will be concentrated under the headline “Light & Optics”, the business with the capital goods industry under “Light & Production,” and the business with the public sector under “Light & Safety”. “This leads to three divisions with shared technological competencies in photonics,” says the Jenoptik CEO. These competencies cover expertise relating to optics, sensors, imaging, robotics, data analysis, and human-machine interfaces. The activities carried out in today’s Defense & Civil Systems segment, which are based on mechatronic technologies, will be operated under a new, independent brand. “This will allow us to better reflect specific market and customer requirements in this business segment,” says Stefan Traeger.

For 2018, the first steps involved in implementing this new strategy, which is supported by Jenoptik’s Supervisory Board, include developing the divisions’ strategic trajectories in line with the Group strategy and implementing active portfolio management. Chief Financial Officer Hans-Dieter Schumacher: “Our business and reporting structures will accordingly change on January 1, 2019. Up until the end of 2018, Jenoptik will continue to report on the basis of its current segment structure.”

Information and preliminary figures for the segments

The Optics & Life Science segment ended the 2017 fiscal year with new revenue and earnings records, primarily due to a very positive pace of growth in the semiconductor equipment industry. Revenue rose 17 percent to over 259 million euros; EBIT improved significantly to more than 50 million euros (prior year 221.5 and 33.4 million euros respectively). Both divisions, Optical Systems as well as Healthcare & Industry, contributed to the segment’s growth in 2017. As part of the future strategy, these divisions will be merged. The combined business will continue to be a key OEM partner for customers in the semiconductor equipment, communications, and biophotonics industries with optical components, modules, and systems for applications.

The Mobility segment reported growth of around 9 percent, to approximately 270 million euros (prior year 247.7 million euros). EBIT came to just under 19 million euros, roughly 6 million euros below prior year (prior year 24.4 million euros), in particular due to one-off costs in a traffic safety project. As part of the revised strategy, the two divisions of this segment, Automotive and Traffic Solutions, will focus on attractive end-customer markets in the fields of industrial manufacturing, public safety, and infrastructure. The key driver of growth here is projected to be the combination of our expertise with modern sensor systems, imaging, and data competency.

Revenue in the Defense & Civil Systems segment exceeded 219 million euros in 2017, with an EBIT of around 19 million euros, matching the high levels of the prior year (prior year 218.3 and 19.1 million euros respectively). Going forward, the photonic businesses of this segment will be carved-out and merged with the activities in today’s Optics & Life Science segment. The non-photonic business will commercialize its products and services under a new brand name in future, in order to better position it in the market place. 

Growth is to further accelerate in coming years

For 2018, the Executive Board confirms its original growth target, aiming for revenue to be between 790 and 810 million euros. EBIT margin is expected to be in a range between 10.5 and 11.0 percent, up versus prior forecasts of around 10 percent.

Jenoptik aims to see accelerated growth in the years ahead. By 2022, revenue is expected to show an increase in the mid- to high-single-digit percentage range per year on average. The EBITDA margin will also improve, to around 16 percent by 2022. Provisional calculations indicate the 2017 EBITDA margin to be slightly above 14 percent. “We want to outgrow our markets and gain shares in our market segments”, says Stefan Traeger. The mid-term growth targets defined in the new strategy include active portfolio management with potential divestments and acquisitions.

“Now that we’ve eliminated debt and established the Jenoptik brand, we’re in an ideal position to move Jenoptik into the next stage of its development,” says CFO Hans-Dieter Schumacher. With a sharper focus on photonic technologies, topics such as internationalization and innovation become even more important for the company: Jenoptik’s R+D output including customer-specific projects is due to grow to approximately 10 percent of revenue by 2022 (2017: approx. 8.6 percent). 

International diversity will also distinguish Jenoptik more strongly than in the past. Stefan Traeger: “That means international teams and more decisions being taken locally.” There will be production facilities and local R+D teams in all key regions, and at least one division will be based outside of Germany by 2022. “We’re building on prior achievements and are now entering a new period of accelerated growth. Our strategic reorientation gives our employees and our shareholders a clear perspective in a strong company,” summarizes Stefan Traeger.

This announcement can contain forward-looking statements that are based on current expectations and certain assumptions of the management of the Jenoptik Group. A variety of known and unknown risks, uncertainties and other factors can cause the actual results, the financial situation, the development or the performance of the company to be materially different from the announced forward-looking statements. Such factors can be, among others, changes in currency exchange rates and interest rates, the introduction of competing products or the change of the business strategy. The company does not assume any obligation to update such forward-looking statements in the light of future developments.

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oneclick starts Webinar Series featuring the topics Productivity, Mobility and Security in IT

How can I organise cloud resources in a simple way and use them to my advantage? How is it possible to save up to 75% of IT costs using a new provisioning model of software applications and data? What do I need to do to fulfil the technical requirements of GDPR? These and other questions will be answered in the newly developed webinar series of oneclick AG, a pioneer in cloud technology. The free webinars are interactive. Following the presentation of a topic by an expert moderator, individual situations and challenges of the participants will be discussed. On the one hand, the webinars target businesses of any sector and any size, which are engaged with the potentials of the cloud. On the other hand, the webinar series is intended as a knowledge transfer tool for systems integrators towards end customers. There will also be answers to many important questions for this target group, for example how to achieve the transformation from a conventional systems integrator to a managed service provider with a user-based revenue model.

"We still see a great need for information regarding cloud technologies“, says Dominik Birgelen, CEO of oneclick AG. "A promising age has started for companies through digital transformation. The challenge is to use these technical developments for one’s own business. Companies benefit in different areas from the opportunities of digitalisation, for example in communication, during internal processes and in collaboration. For us, the digital workspace is the key component of a successful digitalisation strategy. Via this workspace, all applications and data required for work in the office, distributed locations or the home office are provided in an efficient way. Due to the mobile workspace, companies are now able to offer flexible working time models and enable simple, but secure access to company software using various terminal devices. At the same time, they increase an employer’s appeal and employees are able to perform their work more easily, more quickly and overall better. With our webinar series, we want to support companies on their way to digital transformation and offer food for thought and orientation.“

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SMA Solar Technology AG and Danfoss A/S Connect Supermarkets with the Energy Sector

SMA Solar Technology AG (SMA/FWB: S92) and Danfoss A/S are planning to launch a joint venture aimed at connecting various technical components in the food retail segment through a combination of the SMA energy management platform ennexOS and the Danfoss System Manager SM800 to integrate supermarkets into the energy system. Supermarket operators can use the integrated solution developed by the planned joint venture to sustainably reduce their operating expenditure and optimize their carbon footprint. Becoming a key component of the flexible energy system of the future can generate new sources of revenue for the supermarket. The first pilot project will begin shortly.

The future of the energy system depends on whether we develop solutions that provide flexibility to efficiently integrate renewable energy sources. Intelligent building technology is the key to success. The joint venture planned by SMA and Danfoss aims to provide supermarket operators with an integrated solution that interconnects cooling and refrigeration technology, photovoltaics, energy storage technology and e-mobility. Intelligently managing loads and integrating the overall system into the energy market allows supermarket operators to reduce their operating expenditure, optimize their carbon footprint and considerably improve their long-term competitiveness. In addition, they will become a key component of the energy system of the future.

“Our expertise in photovoltaics, battery-storage systems and energy management is a complementary fit with Danfoss’ long-standing experience in cooling and refrigeration technology and its access to customers in the food retail segment,” said Dr.-Ing. Jürgen Reinert, Board Member for Operations and Technology of SMA Solar Technology AG. “I am delighted that this planned joint venture will allow us to further expand our strategic partnership with Danfoss.”

“The food retail segment is both of strategic importance and a playing field for innovation,” said Jürgen Fischer, President of Danfoss Cooling. “Innovative products from cooling and heating technology combined with photovoltaics, energy storage and charging stations will be used in the supermarket of the future. Supermarkets will not only provide fresh goods, but also transform the utility grid, which will become more reliable, greener and more flexible. Danfoss and SMA are very well positioned to tap into this new market. As part of this planned joint venture, headquartered in Hamburg, Germany, we will work together to develop our tried-and-tested technology and secure ourselves a leading market position in this segment.”

SMA’s newly founded subsidiary, coneva GmbH, will cooperate with Danfoss’ Cooling Segment to design a service offering tailored to the individual requirements of the food retail segment. “The SMA energy management platform ennexOS is an ideal tool for optimizing the energy consumption of retailers using parameters like the current electricity prices, outside temperature, solar irradiation and temporary grid requirements,” explained Jochen Schneider, general manager of coneva GmbH. “Surplus self-generated electricity can either be sold directly or stored in electric and thermal storage systems. The integration into the energy market also allows us to secure the supply of cost-effective, environmentally friendly energy. In addition, we can integrate charging stations.”

The planned joint venture is likely subject to the approval of competent antitrust authorities.

About Danfoss
Danfoss engineers technologies that enable the world of tomorrow to do more with less. We meet the growing need for infrastructure, food supply, energy efficiency and climate-friendly solutions. Our products and services are used in areas such as refrigeration, air conditioning, heating, motor control and mobile machinery. We are also active in the field of renewable energy as well as district heating infrastructure for cities and urban communities. Our innovative engineering dates back to 1933 and today Danfoss is a world-leader, employing more than 26,000 employees and serving customers in more than 100 countries. We are still privately held by the founding family. More information on www.danfoss.com.

Disclaimer:
This press release serves only as information and does not constitute an offer or invitation to subscribe for, acquire, hold or sell any securities of SMA Solar Technology AG (the “Company”) or any present or future subsidiary of the Company (together with the Company, the “SMA Group”) nor should it form the basis of, or be relied upon in connection with, any contract to purchase or subscribe for any securities in the Company or any member of the SMA Group or commitment whatsoever. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended.

This press release can contain future-oriented statements. Future-oriented statements are statements which do not describe facts of the past. They also include statements about our assumptions and expectations. These statements are based on plans, estimations and forecasts which the Managing Board of SMA Solar Technology AG (SMA or company) has available at this time. Future-oriented statements are therefore only valid on the day on which they are made. Future-oriented statements by nature contain risks and elements of uncertainty. Various known and unknown risks, uncertainties and other factors can lead to considerable differences between the actual results, the financial position, the development or the performance of the corporation and the estimates given here. These factors include those which SMA has discussed in published reports. These reports are available on the SMA website at www.SMA.de. The company accepts no obligation whatsoever to update these future-oriented statements or to adjust them to future events or developments.

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Software AG closes fiscal 2017 with record-breaking quarter

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  • Digital Business Platform: most successful quarter in company’s history
  • Adabas & Natural: Strong growth in Q4
  • Profitability: Q4 operating profit margin at all-time high
  • Increase in all major operational KPIs: Total revenue, Operating profit & EBIT 
  • Accelerated growth in Cloud: Order entry up +110 percent, revenue grows by +66 percent
  • 2018 Outlook: Strong growth in IoT / Cloud expected

Software AG today released its financial results (IFRS, preliminary) for the fourth quarter and 2017 fiscal year. The company reported the most successful quarter in its history for its growth engine Digital Business Platform. Both license and maintenance revenues reached all-time quarterly highs. New strategic IoT partnerships formed in 2017 with global corporations laid the foundation for scalable and dynamic growth. Accordingly, Software AG will report its IoT / Cloud revenues separately starting in 2018. License revenue in the Adabas & Natural database business also demonstrated above average growth in the fourth quarter. Along with a total revenue increase, Software AG was also able to increase profitability. The company’s operating profit margin (EBITA, non-IFRS) set a new record in Q4, climbing 250 basis points to hit 36.7 percent. These results confirm Software AG’s growing relevance in the global IT market and underline the company’s increasing momentum in strategic IoT and Industry 4.0 projects, which lay the foundation for further profitable growth.

Software AG CEO Karl-Heinz Streibich stated: “Thanks to our initiatives in the areas of the Internet of Things and Industry 4.0, we started seeing initial results and gained increased market share in 2017. We will continue in this direction in 2018 and will extend our market leadership.”

Software AG CFO Arnd Zinnhardt added: “There is enormous growth potential in the global IoT market. This is why we established a new business area on IoT / Cloud. We have built a solid foundation for dynamic, exponential growth, and we are convinced to outperform the market in 2018.”

Fourth-Quarter 2017 Performance (Growth in percentage reported net of currency)

The Digital Business Platform (DBP) business line reported record-breaking results in the fourth quarter. At €144.7 million in revenue, Software AG concluded its most successful quarter in its history in the digital business line. This is an increase of 6 percent year-on-year.  License revenue also grew by 6 percent to total €77.8 million. Fourth-quarter maintenance revenue was €66.9 million (2016: €66.3 million), which is also 6 percent higher than last year. At the same time, Software AG succeeded in increasing cloud revenue by 66 percent with order entry up by 110 percent.

The Adabas & Natural (A&N) database line saw 14 percent growth with €74.6 million (2016: €69.5 million) in revenue. This positive development underscores the stability of the business and the loyalty of the A&N customer base. A further stabilizing factor was the company’s “Adabas & Natural 2050+” innovation program which provides support and digital innovations for customers beyond the year 2050. With this program, Software AG is contributing, in the long term, to protecting its customers‘ investments and actively modernizing their IT landscapes.

Revenue in the Consulting business line totaled €49.2 million (2016: €50,0 million) in Q4, at the previous year’s level.

In the same reporting period, total revenue grew 7 percent to €268.4 million (2016: €263.9 million). Software AG’s license revenue was also up in the fourth quarter, showing 14 percent growth at €115.3 million (2016: €107.5 million). At €103.7 million, maintenance revenue was up 2 percent year-on-year.

Fiscal 2017 performance (Growth in percentage reported net of currency)

Software AG’s Digital Business Platform business line delivered a strong performance in fiscal 2017 with 5 percent growth to €455.4 million (2016: €441.4 million).  Fiscal 2017 revenue for the Adabas & Natural (A&N) database business was at the mid forecast range at €223.7 million (2016: €234.6 million). The Consulting business segment revenue also performed well, growing 2 percent to €199.9 million (2016: €195.9 million).

At €879.0 million (2016: €871.8 million), Software AG’s total revenue was up a slight 2 percent year-on-year. Maintenance revenue grew by 3 percent year-on-year. License revenue for the fiscal year reached last year’s level totaling €256.7 million (2016: €263.0 million).

Earnings performance

EBITA (non-IFRS) improved by 3 percent totaling €279.5 million (2016: €272.0 million) in fiscal 2017. The company’s operating profit margin rose accordingly by 60 basis points to 31.8 percent (2016: 31.2 percent) and marked a new record in the company’s history. This operating margin is in the upper half of Software AG’s forecast range, which had been raised during the year.  EBIT (IFRS) was up by 4 percent to €222.8 million (2016: €213.9 million) in 2017.

Free cash flow totaled €161,9 million (2016: €187.0 million) in fiscal 2017, which reflects 18 percent of total revenue.

Employees

As of December 31, 2017 Software AG had 4,596 (2016: 4,471) employees worldwide (full-time equivalents). Of that total, 1,935 (2016: 1,914) worked in Consulting and Services, 862 (2016: 842) in Sales and Marketing, 1,176 (2016: 1,110) in Research and Development and 623 (2016: 605) in Administration.

2018 Outlook

Based on its 2017 financial results and its current business performance, Software AG expects revenue growth in 2018 in the Digital Business Platform, excluding IoT/Cloud, of between +3 and +7 percent net of currency. Based on the high demand for Software AG solutions in the IoT and Industry 4.0 markets in particular, Software AG anticipates IoT/Cloud revenue to increase by +70 to +100 net of currency. The company foresees revenue development in the Adabas & Natural business line of between -2 and -6 percent net of currency. Additionally, Software AG expects an operating earnings margin (EBITA, non-IFRS) between 30 and 32 percent as well as an earnings per share (EPS, non-IFRS) improvement of between +5 and +15 percent for fiscal 2018.

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Schaeffler reports strong growth in 4th quarter 2017

  • Preliminary revenue figures for 2017 announced
  • 2017 revenue increases by 5.9 percent to 14.0 billion euros
  • Revenue guidance of 4 – 5 percent in growth (at constant currency) for the full year 2017 exceeded
  • Strong 4th quarter with growth of 8.5 percent at constant currency
  • Three divisions starting January 1st and new business unit for E-Mobility

Global automotive and industrial supplier Schaeffler announced its preliminary revenue figures for 2017 today. The company increased its revenue to approximately 14.0 billion euros (prior year: approximately 13.3 billion euros), growing by 5.9 percent at constant currency. Fourth quarter revenue rose to approximately 3.5 billion euros (prior year quarter: approximately 3.4 billion euros), up 8.5 percent at constant currency.

This represents one of the highest quarterly growth rates the company has generated in recent years. As a result, Schaeffler has closed the year 2017 with revenue significantly above the revenue guidance of 4 – 5 percent (at constant currency) for the full year 2017.

Both of the company’s divisions have contributed to this encouraging performance. While Automotive division revenue increased to 10.9 billion euros (prior year: approximately 10.3 billion euros), representing a constant currency growth rate of 5.9 percent, the Industrial division grew its revenue to approximately 3.1 billion euros in 2017. At constant currency, this represents a growth rate of 5.6 percent. In the 4th quarter, the Industrial division’s constant currency growth rate of approximately 9 percent even exceeded the 8.3 percent constant currency growth of the Automotive division. These figures demonstrate that the Industrial division has returned to a long-term growth path.

Thanks to the strong 3rd and 4th quarters, the Automotive division has once again grown faster than the market, i.e. global production of passenger cars and light commercial vehicles, for the full year. Given market growth of approximately 2.3 percent in 2017, the division has outperformed the market by 3.6 percent. Outperformance for the strong 4th quarter was as high as 7.2 percent.

All regions of the Schaeffler Group contributed to the increase in revenue in 2017. The Greater China region once again turned in the highest constant currency growth rate of 24.1 percent.

Asia/Pacific was up 5.7 percent at constant currency. In the Americas region, revenue was up 4.6 percent at constant currency, while Europe expanded by 1.4 percent at constant currency.

“We have once again continued along our successful course in 2017. The positive growth trend in the latter half of the years was particularly encouraging. We have exceeded our revenue guidance of 4 to 5 percent for the full year. We expect the positive revenue trend to continue in 2018,” said Klaus Rosenfeld, CEO of Schaeffler AG.

The strong growth of the Automotive division was driven by both Automotive OEM (up 6.6 percent at constant currency) and Automotive Aftermarket (up 3.2 percent at constant currency). As previously announced in October 2017, effective January 01, 2018, the Automotive Aftermarket was separated from the Automotive division of Schaeffler AG and set up as a stand-alone division headed up by Michael Söding (55). Furthermore, the company has also created an independent business division for
E-Mobility, bringing together all products and system solutions for hybrid and pure battery electric vehicles as of January 01, 2018.

“With the new organizational structure, we are continuing to consistently drive the transformation of the Schaeffler Group in 2018. We want to further improve our focus on the needs of our customers and we continue to concentrate on growth,” Rosenfeld explained.

On March 07, 2018, Schaeffler AG will present its results during its annual financial press conference in Munich.

Forward-looking statements and projections

Certain statements in this press release are forward-looking statements. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial consequences of the plans and events described herein. No one undertakes any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. You should not place any undue reliance on forward-looking statements which speak only as of the date of this press release. Statements contained in this press release regarding past trends or events should not be taken as representation that such trends or events will continue in the future. The cautionary statements set out above should be considered in connection with any subsequent written or oral forward-looking statements that Schaeffler, or persons acting on its behalf, may issue.

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Seizing the opportunities of e-commerce

16th International Trade Show for Intralogistics
Solutions and Process Management
March 13–15, 2018, Messe Stuttgart

The future of trade is on display at TradeWorld: Here, trade-friendly professionals from all industries can find solutions and services to digitize, optimize, and integrate their trade processes and benefit from the flourishing e-commerce sector. TradeWorld is part of LogiMAT, the International Trade Show for Intralogistics Solutions and Process Management, now in its 16th year.

E-commerce has broken one record after another with years of nearly uninterrupted growth. For over 15 years now—since the dotcom bubble of the early 2000s—forecasters have been almost unceasingly ecstatic in their yearly e-commerce prognostications. The German E-Commerce and Distance Selling Trade Association (bevh), for example—in its latest trend analysis “The Economic Climate in Germany’s Interactive B2C Sector 2016/2017”—predicts another good year for business in 2017.

One in eight euros in retail revenue is generated online. And the Institute for Trade Research in Cologne (IFH Köln) concurs that there is still no end in sight for the growth of e-commerce in Germany: The trend analysts cited in the institute’s new “E-Commerce Industry Report” predict that online sales will rise to €80.4 billion by 2021.

Before all industries can reap the riches of this boom, the right conditions must be in place—and that means not only having a good product but also optimizing the end-to-end process chain. Such a process chain is subject to constant change and must be continuously tweaked and extended and increasingly integrated. This is especially true for the growing popularity of the omnichannel concept—when customers can use multiple channels to research and buy products. The omnichannel spectrum includes brick-and-mortar businesses, online shops, online marketplaces and platforms, mobile apps, phone orders, and any other method for transacting with customers, including research, purchases, returns, and pre- and post-sales services.

TradeWorld provides digital inspiration for integrating sales

Trade-friendly industry professionals are keenly interested in information about and solutions for e-commerce and omnichannel, and this interest shows no signs of abating. “Visitors can also find inspiration for digitizing, optimizing, and integrating their trade processes at TradeWorld, the professional e-commerce platform that is held as part of the intralogistics trade show LogiMAT, taking place in Stuttgart from March 13 to 15, 2018,” explains Dr. Petra Seebauer, Managing Director of EUROEXPO Messe- und Kongress-GmbH in Munich, which organizes LogiMAT.

The spectrum of exhibitors, especially those participating in the TradeWorld expert forum in Hall 6, is focused on the design, control, and integrated digitization of procurement, online stores, software, payment systems, fulfillment, parcel services, and returns. “We want visitors to find new ideas and concrete solutions for developing and operationally implementing their digital trade processes in e-commerce,” says Seebauer. The TradeWorld expert forum also offers a new series of presentations each day, covering such topics as “B2B/e-commerce: Where is our journey taking us?”; “What trends will affect the e-commerce sector of tomorrow?” “The last mile: transport of the future”; “Omnichannel retailing: what not only the fashion sector should know”; “Retail logistics 4.0: taking stock!”; and “Platforms in the world of commerce.”

Branching out from TradeWorld, the surrounding halls are home to a wealth of exhibitors presenting intralogistics products and systems that help streamline such elements of e-commerce as picking, conveyor technology, packaging, labeling, and the integration of IT. More than 1,500 LogiMAT exhibitors will come together in Stuttgart from March 13 to 15. The theme: “Intralogistics from the Source: Digital—Connected—Innovative.” “Our professional platform for trade processes generates a unique synergy between intralogistics and trade, helping visitors gain direct access to e-commerce,” Seebauer adds.

A walk through Hall 6 for a sampling of trade expertise

Many businesses are still unsure of how to enter the digital world. HELIX Software + Support GmbH provides a 360° service for all companies going down this path, offering a clear and concise strategy for how they can largely eliminate paper and automate manual processes. (Hall 6, Booth G62)

FIS Informationssysteme und Consulting GmbH helps commercial enterprises develop a digital strategy. The firm specializes in SAP projects and the development of efficient solutions. FIS is a leading SAP system provider in the German-speaking world and the market leader in the technical wholesale sector with its FIS/wws end-to-end solution. FIS works hand in hand with its subsidiary Medienwerft to cover the entire spectrum of SAP issues in customer engagement and commerce. (Hall 6, Booth F63)

Once a company has developed its digital strategy, the next step is to move toward e-commerce and omnichannel. NetConnections GmbH, specialized in the development of powerful e-commerce software solutions, presents three tools to make e-commerce affordable: OscWare for automated data transmission, PayJoe for simplified monthly accounting, and ComSuite as an e-commerce add-on for SAP Business One users. (Hall 6, Booth D71)

4Sellers GmbH, a premium provider of ERP solutions, offers online merchants a database-driven solution for managing all e-commerce, regardless of whether an online or brick-and-mortar channel is ultimately used for purchase. 4Sellers has developed a solution especially for e-commerce logistics to reflect the importance of preparing and transporting the goods to the end customer for a successful shopping experience. (Hall 6, Booth F81)

Visitors need go no further than the booth of Neopost Shipping to find the answers to the challenges of cutting labor costs, increasing efficiency, and dealing with order spikes. There you can experience the CVP-500, an automated packing system for the German market offering a fast, cost-effective, environmentally friendly packing solution for e-commerce. (Hall 6, Booth D69)

For many sellers, sustainability is no longer a marketing argument—it’s part of their day-to-day business. WALTHER Faltsysteme GmbH is raising the bar in sustainable logistics. The specialist for folding reusable transport packaging will unveil a new plastic folding box manufactured from raw materials that are 93% regenerative. The innovative container has a wide variety of potential uses: Standard dimensions and state-of-the-art RFID technology ensure reliability, from highly automated intralogistics to delivery transports to subsidiary networks. (Hall 6, Booth A19)

A package only arrives at the right destination if it has the right label: BIXOLON Europe GmbH is a manufacturer of advanced, innovative, and reliable print technologies that include POS, Auto-ID, and mobile document and label printers for a range of environments. (Hall 6, Booth F16)

Anyone looking for more ideas need only stroll past the booth of Scandit AG, a company in the field of enterprise mobility and data capture. Scandit is a specialist for barcode scanning solutions that simplify the business processes in retail, logistics, production, and healthcare. Scandit’s software technologies and cloud services make it possible for companies to quickly develop, implement, and manage apps for smartphones, tablets, and wearables. (Hall 6, Booth B58)

BWPOST GmbH & Co KG has expanded beyond traditional postal products and now offers many more options for postal and parcel shipping. In addition to a hybrid postal portal, customers can use a carrier-neutral package entry system, so shipping decisions are based only on their own needs and wishes. BWPOST also plans to begin offering fulfillment services through its affiliates. (Hall 6, Booth D47)

Honeywell Safety & Productivity Solutions presents Mobility Edge, a new hardware and software platform for its next-generation mobile devices deployed around the world by distribution centers, transport and logistics service providers, hospitals, and retailers. The platform will be on display to industry professionals for the first time at the Honeywell booth. (Hall 6, Booth B05)

No less exciting is what’s on offer from CipherLab Europe, a provider of solutions for automatic identification and data capture. The focus here is on the rugged RK25 handheld computer and the fast 2200 series presentation scanners. All the devices specifically help business continuously optimize and streamline logistics processes. (Hall 6, Booth A55)

BLG LOGISTICS GROUP AG & Co. KG is a contract logistics provider offering smart solutions for modern, customer-driven logistics. One such solution is the new “Exoskeleton” project. Company representatives will don wearable chest and back supports while carrying out warehousing and picking processes to demonstrate this innovative solution to trade show visitors. (Hall 6, Booth F67)

Pakadoo, a spinoff of LGI Logistics Group International GmbH, presents a new last-mile solution that makes it possible to receive and return private packages directly in the office, regardless of which parcel service is involved. Pakadoo also helps businesses improve their carbon footprint by eliminating the need for multiple trips by carriers and employees. Deliveries can be consolidated, reducing urban traffic in strictly residential areas. (Hall 6, Booth G60)

The customs experts at LGI Logistics Group International GmbH join LGI subsidiary HELIX Software + Support GmbH to present together for the first time automated customs services from a single source for small and medium-sized businesses. (Hall 6, Booth G64)

Händlerbund Management AG, who is presenting a 1.5-hour expert forum entitled “Clash of trends: What trends will affect the e-commerce sector of tomorrow?” will also be on hand with its own booth to offer information on its portfolio of services. (Hall 6, Booth F76)

ibi research at the University of Regensburg is joining the Institute for Trade Research in Cologne (IFH Köln), its partner in the “Mittelstand 4.0-Agentur Handel” project, in presenting a forum on the topic of “B2B/e-commerce: Where is our journey taking us?” ibi research will also be on hand to offer consulting services. (Hall 6, Booth G68)

VuP GmbH – Vallée und Partner, a consulting firm for logistics and IT, will also be on hand to offer its consulting expertise on the implementation of digitization roadmaps. The experts will also present the expert forum “Omnichannel retailing: what not only the fashion sector should know.” (Hall 6, Booth G71)

Event organizer:
EUROEXPO Messe-und Kongress-GmbH
Joseph-Dollinger-Bogen 7; 80807 Munich, Germany
Phone: +49 (0)89 32391-245
Fax: +49 (0)89 32391-246

About TradeWorld/LogiMAT

LogiMAT 2018, the 16th International Trade Show for Intralogistics Solutions and Process Management, will take place March 13–15 on the grounds of Messe Stuttgart, directly adjacent to Stuttgart International Airport. LogiMAT, now the world’s largest intralogistics trade show with over 1,500 exhibitors, offers a comprehensive overview of everything driving the intralogistics industry, from procurement to production to shipping. International exhibitors gather early in the year to showcase innovative technologies, products, systems, and solutions for streamlining operations, optimizing processes, and cutting costs in a company’s internal logistics.

LogiMAT includes the extra bonus of TradeWorld, a professional platform for trade processes, which showcases innovative e-commerce concepts for designing, managing, and integrating digitization in the areas of procurement, online shops and marketing, payment, software, fulfillment, parcel services, returns, and after-sales. Rounding off the package is the TradeWorld expert forum in Hall 6, featuring a new series of presentations each day covering such topics as “B2B/e-commerce: Where is our journey taking us?”; “What trends will affect the e-commerce sector of tomorrow?” “The last mile: transport of the future”; “Omnichannel retailing: what not only the fashion sector should know”; “Retail logistics 4.0: taking stock!”; and “Platforms in the world of commerce.”

TradeWorld’s exhibition area and expert forum are a special strategic component of LogiMAT.

For more information, please visit: www.tradeworld.de or www.logimat-messe.de

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EnWave Announces its Fourth Quarter and 2017 Annual Consolidated Financial Results

EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the "Company" – http://www.commodity-tv.net/…) today reported the Company’s consolidated financial results for the fourth quarter and year ended September 30, 2017.

EnWave’s Radiant Energy Vacuum (“REV™”) technology continues to capture and increase market share in the food, cannabis and pharmaceutical drying industries. The superior product quality and economic advantages of using REV™ technology as an alternative to conventional options is being proven in several market verticals on a global basis. EnWave anticipates continued commercial success and growth in the worldwide deployment of REV™ technology.

During fiscal year 2017, EnWave made significant progress in broadening the use of its REVTM technology. The Company expanded its royalty portfolio to include licenses and machinery sold for both yogurt products and medicinal cannabis products, two new rapidly growing and large market verticals. The Company also added multiple new commercial licenses in several countries for previously proven products such as cheese snacks, fruit snacks and fruit ingredients. Increased sales and marketing expenditures further expanded the sales pipeline for machine sales, royalty partnerships, R&D agreements, and technology evaluation and license option agreements (“TELOAs”) with prospective partner companies.

Since the beginning of the fiscal year, EnWave has signed six new royalty bearing license agreements, sold four large-scale commercial REVTM machines totaling 320kW, sold seven 10kW REVTM machines, signed 10 product development TELOA agreements and entered into a joint research project with the US Army.

Further details include:

• Signed a royalty-bearing license agreement with a major Canadian medical cannabis Licensed Producer (the “LP”). The LP has the exclusive right to use and sub-license the Company’s dehydration technology for cannabis processing in Canada. The LP has agreed to purchase a large-scale 60kW commercial REV™ machine to initiate commercial production and a small-scale 10kW commercial REV™ unit to enable advanced product development.
• Received a purchase order for a 100kW large-scale nutraREV® machine from Ereğli Agrosan (“Ereğli”), a Turkish company that produces high value natural products for the food, cosmetic and health sectors. This order expanded Ereğli’s royalty bearing production capacity by adding to its already purchased two 10kW small-scale royalty-bearing machines and one lab-scale R&D machine.
• Received purchase orders for a large commercial 100kW quantaREV® and 10kW small-scale machine from Pitalia, and expanded its license to include additional fruit products. Pitalia has purchased three REVTM machines and has expanded their total royalty-bearing processing capacity to 120kW.
• Signed a royalty-bearing license for wild blueberries with Van Dyk Specialty Products (“Van Dyk”), a major Canadian producer of wild blueberry products. Van Dyk submitted a purchase order for a large-scale 60kW royalty-bearing nutraREV® machine.
• Received purchase order for Nanuva Ingredients’ third 10kW small-scale machine, expanding its royalty bearing production capacity of high quality fruit products in Chile.
• Signed a royalty-bearing license with Ashgrove Cheese Pty Ltd. and received a purchase order for a small-scale REVTM machine for placement in Australia.
• Signed a royalty-bearing license for yogurt products with Ultima Foods, a subsidiary of one of the largest dairy cooperatives in Canada. Ultima Foods purchased a small-scale 10kW REVTM machine to enable a focused market trial in early calendar year 2018.
• Signed a royalty-bearing license with Howe Foods, the second largest producer of bananas in Australia. Howe Foods purchased a small-scale 10kW REVTM machine to initiate commercial production.
• Signed a royalty-bearing license with AvoChips, LLC (“AvoChips”), a U.S. based snack company to produce a new, and innovative avocado snack product. AvoChips purchased a 10kW REVTM machine to initiate commercial production.
• Entered into a contract with the US Army Natick Soldier R&D Center to jointly develop phytonutrient-rich field rations.
• Signed 10 new TELOAs with food and other processing companies that will evaluate the use of REVTM technology to develop new product applications.

Key Financial Highlights for 2017:

• Building sales pipeline by way of increased S&M expense to $2.2 million compared to $0.8 million for 2016, an increase of $1.4 million. EnWave Canada increased S&M expenses $0.5 million as the Company invested into building its sales pipeline for prospective royalty partners.
• Containing G&A expense with G&A for Q4 2017 being lower than Q4 2016 by $0.2 million, and G&A expense for the year was fairly consistent year over year with a slight increase of 4%. G&A expense as a percentage of revenue for 2017 was 13%, which was the same for 2016.
• Building revenues with Q4 2017 revenue of $3.6 million compared to $2.5 million for Q4 of 2016, an increase of 44%. Annual revenue of $15.9 million for 2017 was higher than the previous year of $14.9 million, an increase of 7% or $1.0 million. Continuing to be cash flow positive with cash flow from operations prior to changes in non-cash working capital(*) of $0.01 million for 2017 compared to $1.2 million for 2016, showing positive cash flows from operations before taking to account changes in working capital.
• Improved the operational structure of NutraDried by replacing its CEO, revamping finance and accounting functions, and replacing its prior marketing agent with Slant Design and Marketing, a boutique Vancouver-based marketing and branding agency.
• Reporting improved annual net income at NutraDried of $0.7 million for 2017 compared to $0.3 million in 2016, and continued to contribute to the growth of the Company. NutraDried’s success solidifies the business case for using REVTM for creating profitable consumer products and new brands for our royalty partners.
• Improving revenues and profit margins at NutraDried by tactically increasing S&M expenses by $0.9 million to allow NutraDried to sell Moon Cheese® direct to retailers and distributors through its network of brokers in the United States.
• Strengthening the balance sheet by completing a prospectus offering and concurrent private placement of 9,530,000 Units of the Company at $1.05 each for combined gross proceeds of $10 million on November 15, 2017. Each Unit consisted of one common share and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). The Warrants were accepted for listing by the TSX Venture Exchange and commenced trading under the symbol ENW.WT at the open of the market on November 22, 2017.

Consolidated Performance Summary:

($ ‘000s) Three months ended
September 30, Years ended
September 30,
2017 2016 Change
% 2017 2016 Change
%

Revenues 3,630 2,519 44% 15,954 14,933 7%
Direct costs 2,764 2,120 30% 11,654 10,383 12%
Gross margin 866 399 117% 4,300 4,550 (5%)

Operating Expenses
General and administration 466 627 (26%) 2,072 1,989 4%
Sales and marketing 754 319 136% 2,160 793 172%
Research and development 199 310 (36%) 1,138 1,656 (31%)
1,419 1,256 13% 5,370 4,438 21%

Net loss – continuing operations (1,060) (1,562) (32%) (2,986) (1,837) 62%
Net loss – discontinued operations – – – – (86) (100%)
Net loss for the period (1,060) (1,562) (32%) (2,986) (1,923) 55%
Loss per share – continuing operations:
Basic and diluted (0.01) (0.02) (0.04) (0.02)

EnWave’s annual and interim consolidated financial statements and MD&As are available on SEDAR at www.sedar.com and on the Company’s website www.enwave.net/financials.

(*) Non-IFRS Financial Measures
Cash flow from operations prior to changes in non-cash working capital is not a measure of financial performance under IFRS. This measure is not necessarily comparable to similarly titled measures used by other companies and should not be construed as an alternative to net income or cash flow from operating activities as determined in accordance with IFRS. Please refer to the discussion included in the Company’s annual MD&A for the year ended September 30, 2017.

About EnWave
EnWave Corporation, a Vancouver-based advanced technology company, has developed Radiant Energy Vacuum (“REV™”) – an innovative, proprietary method for the precise dehydration of organic materials. REV™ technology’s commercial viability has been demonstrated and is growing rapidly across several market verticals in the food and pharmaceutical sectors. EnWave’s strategy is to sign royalty-bearing commercial licenses with industry leaders in multiple verticals for the use of REV™ technology. The company has signed twenty-three royalty-bearing licenses to date, opening up eight distinct market sectors for commercialization of new and innovative products. In addition to these licenses, EnWave has formed a Limited Liability Partnership, NutraDried LLP, to develop, manufacture, market and sell all-natural cheese snack products in the United States under the Moon Cheese® brand.

EnWave has introduced REV™ as the new dehydration standard in the food and biological material sectors: faster and cheaper than freeze drying, with better end product quality than air drying or spray drying. EnWave currently has three commercial REV™ platforms:

1. nutraREV® which is used in the food industry to dry food products quickly and at low-cost, while maintaining high levels of nutrition, taste, texture and colour;

2. powderREV® which is used for the bulk dehydration of food cultures, probiotics and fine biochemicals such as enzymes below the freezing point, and

3. quantaREV® which is used for continuous, high-volume low-temperature drying.

An additional platform, freezeREV®, is being developed as a new method to stabilize and dehydrate biopharmaceuticals such as vaccines and antibodies. More information about EnWave is available at www.enwave.net.

EnWave Corporation
Dr. Tim Durance
President & CEO

For further information:

John Budreski, Executive Chairman at +1 (416) 930-0914
E-mail: jbudreski@enwave.net

Brent Charleton, Senior Vice President, Business Development at +1 (778) 378-9616
E-mail: bcharleton@enwave.net

Deborah Honig, Corporate Development, Adelaide Capital Markets at + 1 (647) 203-8793
E-mail: dhonig@enwave.net

Safe Harbour for Forward-Looking Information Statements: This press release may contain forward-looking information based on management’s expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company’s strategy for growth, product development, market position, expected expenditures, and the expected synergies following the closing are forward-looking statements. All third party claims referred to in this release are not guaranteed to be accurate. All third party references to market information in this release are not guaranteed to be accurate as the Company did not conduct the original primary research. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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Elke Reichart to replace Karin Schick on Bechtle Supervisory Board

Elke Reichart has been appointed as a new member of the Bechtle AG Supervisory Board, effective on 4 December 2017. The experienced IT expert is to succeed Karin Schick who is stepping down after 14 years in order to focus on her social projects. But Bechtle’s principal shareholder wasn’t going anywhere without first securing a highly capable replacement, making significant experience in IT and digitalisation a key prerequisite. In Elke Reichart, Bechtle’s Supervisory Board is gaining an internationally recognised industry insider. Between 1991 and 2017, she held various managerial positions at HP, ultimately becoming Vice President at the IT company’s headquarters in Palo Alto, USA.

Karin Schick—as the major shareholder—will continue to foster her close ties with Bechtle and keep her shares in the company for a long time yet, albeit from the other side of the table. Her father and co-founder of Bechtle, Gerhard Schick, will continue to hold his position as honorary chairman. Both Schick father and daughter, together with Chairman of the Supervisory Board, Dr Matthias Metz, have kept a close eye on the plans for Ms Schick’s succession. “In Elke Reichart we’ve found an outstanding new member of the Bechtle Supervisory Board, someone who can inject valuable momentum into our company. I’ve always been convinced of Bechtle’s strength as a company, I see great potential for growth and I’m incredibly proud to be able to continue to play a role in this remarkable success story as a shareholder”, says Karin Schick.

After completing her studies, Elke Reichart began her career as a sales representative at HP. After three years she was already in charge of a entire subsidiary and subsequently went on to occupy positions with ever increasing responsibility in international revenue and leadership. In 2012 she was promoted to Vice President for Strategy and Planning at HP’s headquarters in Palo Alto. As part of HP’s restructuring programme, she assumed leadership of an international team including employees from all business sectors responsible for determining and achieving financial and operative goals. Elke Reichart also served as a member of the HP GmbH, Böblingen supervisory board from 2009 to 2016. The new member of the Bechtle AG supervisory board works as a freelancer and lives with her three children in the German town of Ammerbuch.

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