Brief: Bastei Lübbe Reports Impairment Losses On Its 51% Investment in Daedalic Entertainment

Bastei Luebbe AG

06/02/2020 20:29

Feb 6 (Reuters) - Bastei Luebbe AG  BST1.DE :
    * DGAP-ADHOC: BASTEI LÜBBE AG: BASTEI LÜBBE MAKES IMPAIRMENT
LOSSES ON ITS 51 PERCENT FINANCIAL INVESTMENT DAEDALIC
ENTERTAINMENT - REDUCTION OF GROUP FORECAST
    * BASTEI LUEBBE AG - DUE TO WEAK BUSINESS DEVELOPMENT IN
GAMES
SEGMENT, GROUP IS REDUCING ITS EXPECTATIONS FOR FULL YEAR
    * BASTEI LUEBBE - MANAGEMENT BOARD IS NOW EXAMINING OPTIONS
FOR
RESTRUCTURING AND REALIGNING BUSINESS MODEL IN GAMES SEGMENT,
SMALLEST AREA OF GROUP
    * BASTEI LUEBBE- MAKES NON-CASH IMPAIRMENTS ON INVESTMENT
DAEDALIC
ENTERTAINMENT GMBH OF 12 MILLION ─ 14 MILLION EUROS, 5 MILLION
EUROS ATTRIBUTABLE TO GOODWILL
    * BASTEI LUEBBE AG - CURRENTLY EXPECTING SIGNIFICANTLY LOWER
CONSOLIDATED EBIT FOR CURRENT FY 2019/2020 OF BETWEEN EUR -10.5
MILLION AND EUR -6.7 MILLION
    * BASTEI LUEBBE -NECESSARY IMPAIRMENT OF INTANGIBLE ASSETS
HAS NO
EFFECT ON CORE BUSINESS WITH BOOKS, AUDIO BOOKS AND NOVELS OR ON
LIQUIDITY OF CO

Source text for Eikon:  ID:nEQ87w7Xza 
Further company coverage:  BST1.DE 

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