The Executive Board and workforce of onoff AG are looking at the months ahead with great confidence. The publication of the consolidated financial statements confirmed the guidance previously published in May 2020: In the last financial year, we increased our overall performance by 25%, the profit for the year rose by 100% and the net margin grew by 3.7%. Dipl.-Ing. Hartmut Dietrich, the member of the Executive Board responsible for operations, reports that “the result displays an improvement of processes in all areas. At the same time, however, it is critical to point out that the weaknesses of some competitors on the market can lead to imaginary offers in current business, which threaten to drive prices downward.”
Group financing has a solid foundation. The associated banks were impressed by the figures, and the credit lines were maintained in their entirety. In addition to that, the “Entrepreneur Loan” was requested and approved under the best terms by the German development bank KfW. “The possibility to use these funds gives us additional security. But we have not yet needed to use a single euro of it,” says CFO Dr. Uwe Ganzer.
On June 19, 2020, onoff AG was added to the NISAX20 of the Hannover stock exchange, an index that reflects the development of the 20 most important publicly listed companies in the state of Lower Saxony. “We see this as the reward for our efforts in recent months and will do everything to meet the high expectations of this index,” says Dr. Uwe Ganzer, with enthusiasm.