Brief: Nabaltec Discloses Extraordinary Depreciation On Fixed Assets

Nabaltec AG

27/10/2020 13:53

Oct 27 (Reuters) - NABALTEC AG  NTGG.DE :
    * NABALTEC INTENDS TO DISCLOSE AN EXTRAORDINARY DEPRECIATION
ON
FIXED ASSETS AT ITS SUBSIDIARY NASHTEC, USA
    * WILL PRESUMABLY DISCLOSE AN EXTRAORDINARY DEPRECIATION IN
AMOUNT
OF EUR 21 - 25 MILLION ON BOOK VALUE FIXED ASSETS AT NASHTEC,
USA.
    * BACKGROUND IS REDUCTION OF CAPACITY UTILIZATION TO BELOW
50% AT
NASHTEC TRIGGERED BY COVID-19 AND EXPECTED SLOWER RECOVERY OF
SALES VOLUMES IN NORTH AMERICAN MARKET IN YEARS TO COME
    * EXACT AMOUNT OF EXTRAORDINARY DEPRECIATION WILL BE
DETERMINED
DURING PREPARATION OF ANNUAL FINANCIAL STATEMENTS
    * EXTRAORDINARY DEPRECIATION HAS NO EFFECT ON CASH FLOW.
    * MEASURE ALSO REDUCES GROUP'S EBIT AND CONSOLIDATED NET
INCOME
FOR YEAR

Source text for Eikon:  ID:nEQ2ZZ7bpa 
Further company coverage:  NTGG.DE 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10;))