Brief: Bastei Lübbe Undertakes Unscheduled Write-Downs And Adjusts Earnings Forecast

Bastei Luebbe AG

01/02/2018 06:45

Feb 1 (Reuters) - BASTEI LUEBBE AG  BST1.DE : 
    * DGAP-ADHOC: BASTEI LÜBBE AG UNDERTAKES UNSCHEDULED 
WRITE-DOWNS 
AND ADJUSTS EARNINGS FORECAST 
    * WILL UNDERTAKE UNSCHEDULED WRITE-DOWNS OF APPROX EUR 7 
MILLION 
RETROACTIVELY TO Q3 2017/2018 
    * CONSOLIDATED REVENUES IN PERIOD FROM APRIL 1 TO DECEMBER 
31, 
2017, AT AROUND EUR 113 MILLION 
    * ADDITIONAL WRITE-DOWN OF AROUND EUR 4 - 5 MILLION IN Q3 
OF 
CURRENT FINANCIAL YEAR 2017/2018 EXPECTED 
    * 9MTH EBITDA AMOUNTED TO AROUND EUR 5 MILLION , COMPARED 
WITH EUR 
9.3 MILLION IN PREVIOUS YEAR 
    * BASTEI LUEBBE - NON-CASH EFFECTS WILL LEAD TO ADDITIONAL 
IMPACT 
OF EARNINGS OF AROUND EUR 11 - 12 MILLION IN FINANCIAL YEAR 
2017/2018 
    * 9MTH EBIT DECLINED TO AROUND EUR -9 MILLION AFTER EUR 5.7 
MILLION IN PREVIOUS YEAR 
    * BASTEI LUEBBE - ASSUMES THAT ORIGINALLY ENVISAGED REVENUE 
AND 
EARNINGS TARGETS FOR 2017/2018 CANNOT BE ACHIEVED 
    * NOW EXPECTS REVENUES OF AROUND EUR 140 MILLION 
(PREVIOUSLY: 
AROUND EUR 160 MILLION) FOR FY 
    * SEES FY EBITDA OF AROUND EUR 5 MILLION (PREVIOUSLY: AT 
LEAST EUR 
14 MILLION) 
    * SEES NEGATIVE EBIT OF AROUND EUR 11 MILLION FOR CURRENT 
FINANCIAL YEAR 
 
Source text for Eikon:  ID:nEQ1fjvBqa  
Further company coverage:  BST1.DE  
 
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