tse AG
tse AG: Results announcement for the fiscal year 2007
tse AG / Final Results/Profit Warning Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Result announcement of tse AG (formerly: ENRO AG) for the fiscal year 2007 In March 2008 ENRO AG became tse AG. In the past, different opinions between the management board and the supervisory board of ENRO AG regarding the realisation of the company’s strategy of growth led to missed possibilities for the raising of capital from the equity market. The consequences were that acquisition efforts did not succeed and that projects could not be pushed ahead. These circumstances had a deep impact on the annual results of the fiscal year 2007. Furthermore single effects burdened the annual results 2007 considerably. The preliminary company’s 2007 results amounted to - 7.0 Mio. €. These results comprise necessary depreciations on receivables against subsidiaries and former affiliated companies in an amount of 2.8 Mio. €. The economic value of these receivables was no longer given when the annual accounts for 2007 were drawn up. Furthermore there was the necessity to build reserves for former members of the management board and the supervisory board. These single effects added a further negative influence in an amount of 1.7 Mio. €. Taking into consideration the negative 2007 business results, a new growth strategy of tse AG only gains significance if the middle- and long-term objectives of the company’s turnover and results can be achieved. Both for the development and short-term realisation of new projects and for the acquisition of existing power plants in the sustainable energy sector a significant capital bases will be necessary. We therefore want to use the authorised capital approved by our last AGM in order to establish this capital bases. Phone: +49(0)201/89936-0 06.05.2008 Financial News transmitted by DGAP ----------------------------------------------------------------------
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