DGAP-Adhoc: Brockhaus Capital Management AG: BCM corrects guidance due to COVID-19 and expects a single-digit percentage decline in revenue compared to 2019 (pro forma). Preliminary figures 9M 2020 continue to show a margin of above 20% with revenue of € 33.9m

Frankfurt/Main, November 13^th, 2020. Brockhaus Capital Management AG (BKHT, ISIN: DE000A2GSU42, "BCM Group") no longer considers it more likely than not that it will achieve the previously communicated guidance of a mid-single-digit percentage growth in relation to pro forma revenue in 2019 of € 54.3 million, without the inclusion of new acquisitions. Instead, BCM Group is currently forecasting a single-digit percentage revenue decline for fiscal year 2020 compared to the previous year 2019 (on a pro forma basis).

The assumptions underlying the previous guidance of a rapid stabilization of customer enquiries in the segment Security Technologies have not yet adequately occured. This results from the ongoing COVID-19 pandemic and the associated renewed international lockdown restrictions such as travel and contact bans. Therefore, despite a significant increase in order intake in Q3 as compared to Q2 2020, BCM Group no longer expects to be able to realize sufficient catch-up effects in the Security Technologies segment in the remaining fiscal year. Even the strong performance of the Environmental Technologies segment, which stands significantly above the prior-year period 9M 2019 with +17.3% revenue growth in combination with a massive increase in order intake, will not be sufficient to compensate for the shifts in the Security Technologies segment.

As already envisaged in the half-year financial report dated September 29^th 2020, group revenue in Q3 2020 was considerably below pro forma levels of the previous year's Q3 2019 due to negative effects of the COVID-19 pandemic. According to preliminary figures, revenue in the first nine months of the current fiscal year were € 33.9 million, which corresponds to a decrease of -16% compared to the pro forma period of the previous year. With a preliminary adjusted EBITDA of € 7.0 million, the margin of 20.5% nevertheless maintained the level of the first half of 2020 (20.4%). Including inorganic growth through acquisitions (non-pro forma basis), revenue growth in 9M 2020 was € 25.2 million or +290%.

In view of the mission-critical nature of its technologies, BCM Group however expects significant catch-up effects in 2021, subject to the continuing uncertainties regarding the course, duration and impact of the COVID-19 pandemic on global economic development.

BCM Group's quarterly statement 9M 2020 will be published on November 24^th, 2020. For further information on the definition of performance metrics, please refer to the consolidated fincancial statements for 2019. These can be found on the Company's website www.bcm-ag.com in the Investors - Publications section.

Contact information

For Investors:

Brockhaus Capital Management - Paul Göhring
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Tel: +49 69 20 43 40 978
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E-Mail: [email protected]