UMT AG plans conservative valuation allowances in the 2022 annual financial statements in accordance with the principle of prudence
As part of the preparation of the financial statements of UMT United Mobility Technology AG (Securities Identification Number WKN: A2YN70, ISIN: DE000A2YN702) as of December 31, 2022, the Management Board intends to make a value adjustment for the investment in Buchberger Baugeräte Handel GmbH and Buchberger Baumaschinen Vermietung und Service GmbH by one third of the value due to the stagnation in the construction industry and the legal case.
In addition, the Management Board plans to reduce the valuation of the investment in UMS United Mobile Services GmbH to EUR 0.5 million, as the successes from the payment business have not yet been seen. The EUR 0.5 million reflects the IP rights to the payment platform, which continue to serve as the basis for the upcoming “pay-per-part” project.