Unternehmens Invest : Interim report for the first half 2021/22

UNTERNEHMENS

INVEST AG

2122

INTERIM

FINANCIAL REPORT 2021/22

02 CONTENTS

03 Interim group management report

03 Important events in the first half of 2021/22

1. Portfolio status and performance

1. Report on the shareholdings

1. Employees

1. Research and development

1. Risk report

10 Shareholder structure

1. Performance of UIAG shares
2. Outlook
3. Consolidated
   interim financial statements

12 Consolidated balance sheet

14 Consolidated income statement

1. Consolidated statement of comprehensive income
2. Consolidated cash flow statement
3. Consolidated statement of changes in equity

18 Segment reporting

20 Notes to the consolidated interim financial statements

20 Accounting and valuation methods

1. Major discretionary decisions and assumptions
2. Scope of consolidation

21 Changes in the consolidation scope

24 Notes to the corrections according to IAS 8

1. Notes to the consolidated income statement
2. Notes to the consolidated balance sheet
3. Notes to the consolidated cash flow statement

28 Financial instruments

1. Major events after the interim reporting period
2. Related party disclosures
3. Statement of all legal representatives
4. Other information

INTERIM GROUP MANAGEMENT REPORT	03

INTERIM GROUP

MANAGEMENT REPORT

for the first half of 2021/22 of Unternehmens Invest AG

IMPORTANT EVENTS IN THE FIRST HALF OF 2021/22 (1 OCT 2021-31 MAR 2022)

The war in Ukraine and the sanctions imposed on Russia are weighing on the global economy and slow down the Austrian economy. The uncertainty of the development has put further pressure on already high commodity and energy prices and consequently to a further increase of the inflation rate. The sanctions are leading to a decline in exports, and supply chain disruptions are likely to intensify. at least in the short-term. As a result, the post-pandemic economic recovery is slowing. The IHS has lowered its forecast for the Austrian economy for GDP growth to 3.6% in 2022

and 2.3% in 2023. Driven primarily by high energy prices, inflation is expected to reach 5.5% in 2022 and 2.3% in 2023, respectively, significantly more than expected before.¹)

The duration of the military conflict in the Ukraine is not foreseeable at present. The extent and duration of the burden placed on the global economy by the war is associated with an extremely high degree of uncertainty. Should the war escalate further, and NATO become directly involved, the consequences would be incalculable. A loss of Russian raw material exports would lead to a further increase in raw material prices and could trigger a recession. The war in Ukraine could also lead to global supply chains being affected even more than is already to be expected.

Also, the Corona pandemic is not yet conquered. In China the Omicron surge seems to arrive later than elsewhere. This increases the risk of renewed closures of production facilities and ports, which would also further delay the normalization of global supply chains. A new Corona variant, as infectious as Omicron and also bypassing vaccination protection and causing severe disease progression, would require renewed infection control measures in fall and winter. A quick end to the war in Ukraine and a solution that allows the sanctions to be eased would bring upward potential for the global economy.

Delisting

As at 21 March 2022, the Management Board of Unternehmens Invest AG was informed by the shareholders

Knünz GmbH, Knünz Invest Beteiligungs GmbH, Nucleus Beteiligungs GmbH and Mr. Paul Neumann - who held jointly 5,543,900 shares (approximately 87.04%) of Unternehmens Invest AG, that they requested the delisting of Unter- nehmens Invest AG in accordance with section 38 (7) BörseG 2018 (Austrian Stock Exchange Act). Knünz GmbH made an offer to the shareholders of Unternehmens Invest AG to terminate the trading authorization of UIAG shares

at a share price of € 29.41 cum dividend 2021/22. The acceptance period was 29 April 2022 through 27 May 2022, 96,167 shares were delivered.

Unternehmens Invest AG filed the application for the revocation of the listing of the shares with Wiener Börse AG

on 4 May 2022. The revocation of the admission to official trading of the shares of Unternehmens Invest AG will take effect as at Friday, 19 August 2022.

As a consequence of the revocation of the admission to official trading the bearer shares are to be converted into registered shares.

¹) Source: IHS - spring forecast of the Austrian economy 2022-2023

04	INTERIM GROUP MANAGEMENT REPORT

After the conversion to registered shares, only the person entered in the share register shall be deemed

to be a shareholder in relation to the company pursuant to section 61 (2) AktG (Austrian Stock Corporation Act). This applies in particular to the payment of dividends and to the participation in future general meetings. In order to be entered in the share register, shareholders must provide Unternehmens Invest AG with information in accordance with section 61 (1) AktG (Austrian Stock Corporation Act). The entry in the share register is significant for the shareholders, as only those who are entered and maintained as shareholders in the share register are deemed to be shareholders vis-à-vis the company and can exercise the corresponding rights. The legal position of shareholders entered in the share register is not affected by the conversion from bearer shares to registered shares. Their participation in the company remains unchanged, as do the rights

associated with their shares.

The conversion from bearer shares to registered shares must take place within twelve months from the delisting of the shares from the Official Market of the Vienna Stock Exchange.

Virtual General Meeting

On 23 March 2022 the Annual General Meeting for business year 2020/21 was held again virtually. The remuneration report for the business year 2020/21 was decided unanimously. Mr. Rudolf Knünz was elected into the Supervisory Board, for the term ending with the General Meeting passing the resolution for the formal discharge of the Supervisory Board for the fourth business year after the election, whereby the business year of the election is not counted. The term of office of Mr. Manfred De Bock endet with the General Meeting of 23 March 2022 and

he resigned from the Supervisory Board.

PORTFOLIO STATUS AND PERFORMANCE

As at 31 March 2022, Unternehmens Invest AG had shareholdings in the following companies:

		31 Mar 2022		30 Sep 2021
Pongratz Trailer-Group GmbH¹)		100.0%		100.0%
BEGALOM Guss GmbH		79.68%		70.08%
UIAG Informatik-Holding GmbH		79.92%		79.92%
UIAG AFO GmbH		100.0%		100.0%
All for One Group SE²)		14.94%		14.94%
Plastech Holding GmbH		100.0%		100.0%
UIAG Beteiligungs GmbH		100.0%		100.0%

Unternehmens Invest AG has no branch offices.

REPORT ON THE SHAREHOLDINGS OF UNTERNEHMENS INVEST AG

IT segment

All for One Group SE

In the first half at 2021/22 All for One Group SE built up and expanded both its implementation strength and its service portfolio focusing on SAP transformation and the product business as well as its customer base in Poland and Switzerland through three acquisitions. All for One Poland Sp. z.o.o. with more than 400 employees and a customer base of more than 400 companies will drive the growth strength of All for One Group SE, especially in the areas of

¹) Thereof 6% in UIAG Beteiligungs GmbH

²) UIAG Informatik-Holding GmbH holds 25.07% of All for One Group SE, UIAG AFO GmbH holds 10.33%

INTERIM GROUP MANAGEMENT REPORT	05

SAP S/4HANA transformation and major international projects. The Swiss ASC Group is characterized by its expertise in the area of business and IT/SAP consulting and especially for solutions in corporate finance and enterprise performance management and blue-zone GmbH is a specialist for cloud-based product development.

Sales revenues including acquisitions amount to € 230.4m (+24%), the organic sales growth was 10%. Recurring revenues increased further to a total of € 118.5m (+20%), thereof cloud services and support by 32% to € 55.1m and software support by 5% to € 58.3m and account for 51% of total sales.

EBIT increased to € 13.0m (+22%), EBIT before M&A effects (non-IFRS) amounts to € 17.7m (margin 7.7%).

In inorganic growth from the acquisitions and the expected continued high demand from customers will have

a positive impact on the sales growth of All for One Group SE. The sales pipeline is well filled and the CONVERSION/4 subscription model for transformation and innovation with SAP S/4HANA is gaining considerable pace. In May

2022 the customer experience (CX) specialist POET GmbH, Karlsruhe/Germany, was purchased. Thus, All for One Group SE raised their sales guidance slightly for business year 2021/22 expecting sales of € 400m to € 460m and an EBIT of € 24m.

Unternehmens Invest AG holds 743,823 shares (14,94%) of All for One Group SE and received a dividend payment in the amount of approximately € 1.1m in March 2022.

UIAG Informatik-Holding GmbH

UIAG Informatik-Holding GmbH holds 1,248,873 shares (25.07%) of All for One Group SE and received a dividend payment in the amount of approximately € 1.8m in March 2022.

UIAG AFO GmbH

UIAG AFO GmbH was founded in May 2021 as 100% subsididary of Unternehmens Invest AG and holds 515,000 shares of All for One Group SE (10.33%). In March 2022 UIAG AFO GmbH received a dividend payment in the amount of € 747k from All for One Group SE.

Plastic segment

Plastech Holding Group

Unternehmens Invest AG holds 100% of Plastech Holding GmbH and consequently - directly and indirectly - a total of 89.05% of Kautex Holding GmbH.

Kautex Holding Group is a world-wide manufacturer of special-purpose machinery, whose product portfolio includes blow-molding machines in various sizes for different applications in four segments (industrial packaging, consumer packaging, special applications and automotive).

By focusing on the segments industrial packaging and special applications the order intake in the first half of 2021/22 has increased considerably (+40%) compared to the first half of 2020/21. Due to the ongoing global supply chain problems the sales decreased to € 30.3m (H1 2020/21: € 35.0m), whereby Plastech Holding Group achieved a negative EBIT in the first half of 2021/22.

The beginning of the first half of 2021/22 was burdened by the war in Ukraine and the strict lockdowns in China

in the course of the zero-Covid policy. However, for the second half of 2021/22 a stronger order intake is expected. Thus, a moderate sales increase might be expected for the business year.

Kautex Holding Group contributes to the cost-efficient production of their customers and the conservation of the resources of our planet by the consistent drive to develop intelligent product solutions for blow molding that allow the processing of recycled materials and a major weight reduction of their products.