KTG energy

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KTG Energie AG

logo
legal form Corporation
founding 2006
resolution 2016
Reason for dissolution insolvency
Seat Hamburg , Germany
Branch Biogas

The KTG Energie AG , based in Hamburg was formerly listed company's renewable energy industry , which in 2005/06 biogas plants operating in Germany. Together with the parent company KTG Agrar , it went bankrupt in 2016 and was majority taken over by the Zech Group . After the restructuring, the company was renamed as a subsidiary of Deutsche Agrar Holding in DAH Energie GmbH on June 30, 2017 .

history

KTG Energie AG, later trading as KTG Biogas AG, commissioned its first biogas plant in 2005/2006 in Dersewitz . The capacities were gradually expanded in the following years. The first biomethane plants were put into operation in 2011. In 2012 the company went public as KTG Energie AG. As of June 30, 2012, their biogas plants achieved a total electrical output of 30.6 megawatts (MW).

IPO and growth

When KTG Energie AG went public in June 2012, the 1,000,000 shares from a capital increase were placed in full at a fixed price of EUR 13.80 each within the subscription period. In addition to the capital increase, 500,000 shares from the holdings of the parent company, KTG Agrar SE, were transferred. The gross issue proceeds from the first IPO of a German company in 2012 were around EUR 20.7 million. Subscriptions from retail investors have been fully allotted. The market capitalization of KTG Energie at the issue price was EUR 82.80 million. Trading in the Entry Standard of the Frankfurt Stock Exchange began on June 29, 2012.

Bankruptcy and takeover

In the middle of 2016, KTG Energie also went bankrupt as a result of the insolvency of the parent company KTG Agrar. In the course of the insolvency proceedings, the CEO of KTG Agrar Siegfried Hofreiter resigned from his management board mandate, but remained on the KTG Energie Supervisory Board. The 50.06 percent stake that KTG Agrar SE held in KTG Energie AG was purchased by the Zech Group in September 2016 .

With the completion of the restructuring of KTG Energie AG, the company was renamed as a subsidiary of Deutsche Agrar Holding in DAH Energie GmbH on June 30, 2017 .

Corporate bond and stock

In 2012, KTG Energie issued a six-year corporate bond worth 50 million euros. This earned interest at 7.25 percent annually until 2018. In the course of the bankruptcy, the bond price collapsed to 8.7 percent by the end of September 2016 and the share price to EUR 0.80.

Business model

As a subsidiary of KTG Agrar SE, KTG Energie AG was independent of external suppliers. The supply of raw materials for the production of biogas was ensured through cultivation on the parent company's own land. The fermentation residues left over from fermentation were spread on the fields as fertilizer.

In order to compensate for possible delivery failures due to the insolvency of the parent company KTG Agrar, KTG Energie wanted to tap additional sources of supply through local farmers. In September 2016, Jan Ockelmann, the board member of the insolvent parent company KTG Agrar, described the subsidiary KTG Energie as “economically healthy”.

Individual evidence

  1. ↑ Start of trading at the end of June: KTG Energie is heading for an IPO (handelsblatt.com from June 13, 2012, accessed on July 26, 2016)
  2. ↑ IPO with obstacles: KTG-Energie-IPO brings lower proceeds (finance-magazin.de of June 27, 2012, accessed on July 26, 2016)
  3. ↑ KTG Agrar files for bankruptcy (agrarheute.com from July 5, 2016, accessed on July 26, 2016)
  4. ↑ a b Martin Hock: KTG Energie is also insolvent. FAZ , September 27, 2016, accessed on November 3, 2018 .
  5. ↑ KTG board member Hofreiter leaves the field (maz-online.de from July 18, 2016, accessed on July 26, 2016)
  6. ↑ KTG Agrar: CEO Hofreiter leaves (agrarheute.com from July 13, 2016, accessed on July 26, 2016)
  7. ↑ Our heads ( Memento from June 12, 2016 in the Internet Archive )
  8. ↑ Abysses: Dagmar Behme on research in the KTG environment ( memento of the original from July 26, 2016 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (agrarzeitung.de from July 21, 2016) @1@ 2Template: Webachiv / IABot / www.agrarzeitung.de
  9. ↑ Michael Hedtstück: Family company from Bremen: Zech Group buys KTG Agrar and KTG Energie. Finance, September 16, 2016, accessed November 3, 2018 .
  10. ^ Deutsche Agrar Holding. Zech Group , July 7, 2017, accessed November 3, 2018 .
  11. ↑ KTG Energie AG bond prospectus incl. Supplements ( Memento from July 27, 2016 in the Internet Archive ) (PDF) ktg-energie.de; accessed on July 27, 2016
  12. ↑ Energy: Fear of the pressure drop . In: Der Spiegel . No. 19 , 2014 ( online ).
  13. ↑ KTG Energie: Fancy organic . (focus.de from July 5, 2012 (FOCUS-MONEY magazine, issue No. 37, 2012), accessed on July 28, 2016)
  14. ↑ KTG Energie AG not directly affected by the insolvency in self-administration of KTG Agrar SE (finance.yahoo.com from July 5, 2016, accessed on July 26, 2016)
  15. ↑ Agricultural concern: KTG agricultural administrator sees "dramatic situation" . Welt Online , September 1, 2016