PANTAFLIX AG decides against sale of PANTAFLIX Technologies GmbH

PANTAFLIX AG decides against sale of PANTAFLIX Technologies GmbH

Munich, 18 September 2023. PANTAFLIX AG (ISIN: DE000A12UPJ7) has decided to terminate negotiations on the sale of its wholly-owned subsidiary PANTAFLIX Technologies GmbH. As a result, the sales process announced in the ad hoc release of 29 March 2023 will not be pursued and PANTAFLIX Technologies GmbH will remain part of the PANTAFLIX Group.

It is currently being assessed how the video streaming technology developed by PANTAFLIX Technologies GmbH can be integrated into the Group's AI activities to enable faster content marketing.

PANTAFLIX AG's decision to terminate the sales process has resulted in substantiation of the Company’s forecast for financial year 2023. In view of the successful business development in the first half of the year, the Company maintains its revenue forecast of EUR 29.5 million to EUR 33.5 million and substantiates it forecast for earnings before interest and taxes (EBIT) to EUR -3.7 million to EUR -3.0 million (previously: EUR -3.7 million to EUR -1.5 million).

18 September 2023
The Management Board

Investor Relations
CROSS ALLIANCE communication GmbH
Susan Hoffmeister
Phone: +49 (0)89 1250903-30
Email: sh@crossalliance.de
Website: www.crossalliance.de