Brief: Indus Holding Sees EBIT 2022 Forecast Between EUR 15-30 Mln

Indus Holding AG

03/11/2022 16:08

Nov 3 (Reuters) - INDUS HOLDING AG  INHG.DE :
    * ON BASIS OF ANNUAL IMPAIRMENT TEST - NON-CASH IMPAIRMENTS
OF EUR
39.8 MILLION ON GOODWILL AND INTANGIBLE ASSETS IN Q3 OF 2022
    * THESE IMPAIRMENTS RESULT FROM SIGNIFICANT INCREASE IN
CAPITAL
COSTS DERIVED FROM MARKET PARAMETERS AND USED FOR VALUATION IN
CURRENT YEAR AS A RESULT OF STRONG INCREASE IN KEY INTEREST
RATES BY ECB
    * OVERALL, GOODWILL RECOGNIZED WILL THUS DECREASE BY 8.4%
FROM EUR
443.0 MILLION (JUNE 30, 2022) TO EUR 405.8 MILLION (SEPTEMBER
30, 2022)
    * FORECASTS FOR EBIT AND REVENUE FOR FULL YEAR 2022 WERE
ALSO
REVIEWED AND ADJUSTED AS PART OF CURRENTLY ONGOING PLANNING
PROCESS
    * BASED ON LAST FULL-YEAR 2022 EBIT FORECAST PUBLISHED ON
OCTOBER
24, 2022 OF EUR 46 TO 61 MILLION, THIS RESULTS IN AN ADJUSTED
EBIT FORECAST OF EUR 15 TO 30 MILLION, TAKING INTO ACCOUNT
IMPAIRMENTS DESCRIBED ABOVE AND OTHER FACTORS
    * OUTLOOK 2022: REVENUE IS STILL EXPECTED TO BE BETWEEN EUR
1.90
AND 2.00 BILLION

Source text for Eikon:  ID:nEQ6QdTRKa 
Further company coverage:  INHG.DE 
 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))