Brief: Bauer Group Will No Longer Be Able To Achieve Their 2017 FY Earnings Forecast

Bauer AG

08/01/2018 19:52

Jan 8 (Reuters) - Bauer Ag  B5AG.DE : 
    * FY EBIT 65 MILLION EUR 
    * DGAP-ADHOC: BAUER AKTIENGESELLSCHAFT: BAUER AG MUST 
CORRECT 
FORECAST DUE TO UNEXPECTED SINGLE VALUATION ALLOWANCES FROM A 
LEGAL DISPUTE 
    * MUST REDUCE  THEIR 2017 FULL-YEAR EARNINGS FORECAST DUE TO 
THE 
UNEXPECTED OUTCOME OF LONG-STANDING ARBITRATION PROCEEDINGS 
    * BOARD NOW EXPECTS COMPENSATION CLAIMS WILL HAVE TO BE 
DEPRECIATED IN THE ACCOUNTS OF THIS AFFILIATED CO BY A LITTLE 
MORE THAN EUR 20 MILLION 
    * BAUER GROUP WILL NO LONGER BE ABLE TO ACHIEVE THEIR 2017 
FULL-YEAR EARNINGS FORECAST FOR THE GROUP DUE TO THIS UNEXPECTED 
IMPACT 
    * NOW EXPECTS AN EBIT OF AROUND EUR 65 MILLION AND  EARNINGS 
AFTER 
TAX THAT SHOULD BE JUST IN THE POSITIVE RANGE 
    * AS THIS IS A ONE-OFF EXTRAORDINARY EFFECT, NO IMPACT ON 
FUTURE 
EARNING POWER WILL BE INFERRED FROM IT 
    * FY FORECAST FOR TOTAL GROUP REVENUES REMAIN UNCHANGED AT 
AROUND 
EUR 1.8 BILLION 
 
Source text for Eikon:  ID:  
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