Annual financial reports / halfyearly financial reports are available in the Company Register. However, companies must provide information about when and where their financial reports are published in addition to this.

The company may lodge an appeal against the administrative fine order.

Financial reporting requirements

Financial reports provide information on companies’ net assets, financial position and results of operations. This information is important to investors because it allows them to make informed investment decisions. Companies such as SFC Energy AG that are domiciled in Germany and that issue securities that are traded on an organised market in Germany must publish an announcement about the date from which and the website where, in addition to the Company Register, their annual financial reports and half-yearly finacial reports are made publicly available.

This announcement must be published no later than four months after the end of each reporting period and before the annual financial report; for half-yearly financial reports, the announcement must be published no later than three months after the end of each reporting period and before the half-yearly financial report.

Failure on the part of a company to publish financial reports and the corresponding announcement, or failure to do so within the prescribed period, constitutes a contravention of the Securities Trading Act. BaFin may in each case impose administrative fines on companies that fail to comply with this obligation. The maximum amount for this fine is 10 million euros or up to 5% of total revenue.

Update (18.06.2024):

The administrative fine order is final and binding.