UMT United Mobility Technology AG confirms forecast for the financial year 2020 – Virtual Annual General Meeting planned for December 2020
UMT United Mobility Technology AG today confirmed its forecast as of August 2020.
“In the course of its strategic reorientation, UMT continues to expect strong growth for fiscal year 2020, with a three-digit percentage increase in revenues and earnings. As part of the further development of our business model, we expect in particular income from the transaction and consulting area for technology”, says Dr. Albert Wahl, CEO of UMT. “Thus, the UMT Management once again expressly reaffirms the previous forecast despite the ongoing Covid-19 pandemic. We expect strong growth in commission income from Assets under management (AuM) in the medium and long term, both for our own account and on behalf of our customers. This is independent of UMT’s traditional operative business,” Dr. Wahl continues.
Against the background of the Covid-19-related meeting bans, the UMT Management decided to hold this year’s Annual General Meeting as a virtual event. “In order to protect the health of our shareholders and employees, this year’s Annual General Meeting will be held in December as a purely virtual meeting without the physical presence of shareholders and shareholder representatives,” explains Dr. Albert Wahl. This is based on the federal laws of March 27, 2020, which are designed to mitigate the consequences of the Covid-19 pandemic. UMT asks its shareholders to inform themselves regularly on the company’s website about the specific date and the course of the Annual General Meeting. The convening of the virtual Annual General Meeting will be published in the electronic Federal Gazette in November at the latest.
The publication of the interim report scheduled for October may be postponed to November 2020 due to Covid-19 resource constraints. As before, the half-year report will be made available in the Investor Relations section on the company’s website at www.umt.ag.