Please wait…

27/06/2017 08:35:41
A A | Print

DGAP-News: Report on Airopack by Research Dynamics: News update


Report on Airopack by Research Dynamics: News update

^

EQS Group-News: Research Dynamics / Schlagwort(e): Research Update

Report on Airopack by Research Dynamics: News update

27.06.2017 / 08:29

---------------------------------------------------------------------------

This report is published by Research Dynamics, an independent research

boutique

Upscaling to 200 million Airopack dispensers annually

Manufacturing capacity set to be doubled

Airopack is on track to double its manufacturing capacity at the Waalwijk

plant. The state-of-the-art plant in Waalwijk, Netherlands was set up in

December 2016 by ATG with an initial annual capacity of 80 million pieces of

Airopack. The company is now targeting to increase the installed capacity to

100 million pieces annually by end 2017, with a further modular expansion of

installed capacity to 200 million pieces annually over the course of 2018.

The increased capacity will help the company to fulfill increasing demand

for its patented and unique dispenser.

New financing secured

Airopack has secured additional financing to fund its expansion plans. The

financing comes in a combination of (i) a capital increase with expected net

proceeds of approximately EUR 11.7 million, (ii) an additional EUR 10

million debt facility provided by funds managed by affiliates of Apollo

Global Management, and (iii) asset-based financing, including lease and

factoring provided by Rabobank and KBC, respectively.

ATG is doing a private placement of 1,228,955 registered shares with a

nominal value of CHF 5.00 per share and an issue price of CHF 10.65 each.

The issue has been fully subscribed by investors, with Apollo Funds

participating in the private placement pro rata for their current

shareholding. The proposed shares will be issued from the authorized capital

and will be eligible for dividends from next year. ATG is expecting the

private placement and listing of the new shares to be completed in the first

half of July 2017.

Conclusion

The company is in a ramp up phase and is on track to meet its growth

targets. With this investment, Airopack is confirming its ability to bring

sustainable packaging innovations to the market at competitive costs,

becoming the new standard in planet friendly packaging solutions. By end of

2018 we expect the company to be able to fully utilize the expanded

production capacity of its plant in the Netherlands. There are no material

changes in our income statement projections for the company as we had

already accounted for a planned expansion in our model.

Valuation

We remain optimistic about the growth prospects of Airopack. The company has

promising plans and aggressive strategies in place to achieve the specified

targets, along with a global financing partner. We expect Apollo to continue

to support ATG in its future endeavours to expand its production capacity

and also in opening new facilities to meet the growing demand for Airopack's

products. There is no material change in our financial projections for the

company as we had already accounted for a planned expansion in our model.

Based on a Discounted Cash Flow (DCF) approach, we value Airopack at CHF13.5

per share, which is lower than our previous estimate of CHF14.3 per share.

The decrease is due to the increase in the number of shares outstanding

following the recent private placement of shares.

---------------------------------------------------------------------------

Zusatzmaterial zur Meldung:

Dokument: http://n.eqs.com/c/fncls.ssp?u=CWPIYHAFMK

Dokumenttitel: Airopack_News Update_27.06.2017

---------------------------------------------------------------------------

Ende der Medienmitteilung

---------------------------------------------------------------------------

586605 27.06.2017

°

Login required

Username or email:
Password:

To use this function please log-in
If you haven't got an account on boerse-frankfurt.de, you have the opportunity to register regist here for free.

add instrument

pagehit

The following Disclaimer and Information has been prepared by Voltabox AG (the “Issuer”) for the purpose of publishing THE securities prospectus by the issuer. Deutsche Boerse AG does not assume any responsibility for the content of the issuer`s Disclaimer and information.

 

Important Information


 

The information contained on the following web pages is directed only at persons who are resident of or domiciled in the Federal Republic of Germany (“Germany”) or the Grand Duchy of Luxembourg (“Luxembourg”). The following information does not constitute an offer to sell or a solicitation of an offer to buy or subscribe for any securities. No offer of securities of the Issuer is being, or will be, made to the public outside Germany and Luxembourg. The offer in Germany and Luxembourg is being made solely on the basis of the securities prospectus (including any amendments thereto) which has been approved by the German Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and which has been published on the Issuer’s website. Any investment decision regarding the publicly offered securities of the Issuer should only be made on the basis of the securities prospectus. The securities prospectus is available free of charge from the Issuer (Artegastraße 1, 33129 Delbrück, Germany; Tel.: +49 (0)5250 9930-900; Fax: +49 (0)5250 9762-102) and on the Issuer’s website (www.voltabox.ag).



The information contained on the following web pages is not an offer of securities for sale or a solicitation of an offer to purchase securities in the United States of America (“United States”), Canada, Australia or Japan. The Issuer’s shares, and the securities offered in the course of the offer, have not been and will not be registered under the US Securities Act of 1933, as amended (“Securities Act”), or with any other securities regulatory authority of any state or other jurisdiction of the United States and may not be offered, sold or delivered within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Issuer does not intend to register the offer or parts thereof in the United States or make an offer to the public in the United States, Canada, Australia or Japan.



The information contained on the following web pages is not for distribution to persons who are located in the United States, Canada, Australia or Japan or any other jurisdiction where the offer of the securities to the public is not taking place. Any violation of these restrictions may constitute a breach of the securities laws of these countries. The copying, forwarding or other transmission of the content of the following web pages is prohibited.

By clicking the "I AGREE" button below, you warrant that (i) you have read and accepted the foregoing information and restrictions in full and (ii) you are a resident of or domiciled in Germany or Luxembourg, and (iii) you agree not to distribute or forward the information contained on the following web pages to any person who is not a resident of or domiciled in Germany or Luxembourg.

 


We regret that, due to regulatory restrictions, we are unable to provide you with access to the following web pages.