Brief: Schoeller Bleckmann To Restate Goodwill Of Resource Well Completion Technologies

SBO AG

10/12/2019 13:52

Dec 10 (Reuters) - SCHOELLER BLECKMANN OILFIELD EQUIPMENT AG
 SBOE.VI :
    * NEED TO RESTATE GOODWILL OF RESOURCE WELL COMPLETION
TECHNOLOGIES, INC. AS OF 31/12/2018, FOLLOWING AN AUDIT
ACCORDING TO FINANCIAL REPORTING ENFORCEMENT ACT
    * EXPECTS PRELIMINARY AUDIT RESULT TO BE CONFIRMED IN COMING
WEEKS.
    * CGU RESOURCE NO LONGER EXISTS IN FORM AUDITED AS OF 31
DECEMBER
2018
    * THERE IS A NEED FOR MATERIAL RESTATEMENT OF GOODWILL OF
CASH
GENERATING UNIT (CGU) RESOURCE WELL COMPLETION TECHNOLOGIES,
INC. (RESOURCE) AS OF 31 DECEMBER 2018
    * GOODWILL OF THIS CGU AMOUNTED TO MEUR 23.7 AS OF 31
DECEMBER
2018
    * WILL MAKE AND PUBLISH NECESSARY CORRECTIONS
    * NON-CASH GOODWILL RESTATEMENT AS OF 31 DECEMBER 2018 WILL
HAVE
NO IMPACT ON 2019 RESULT NOR ON DIVIDEND PROPOSAL
    * IT IS PLANNED TO INCREASE DIVIDEND FOR 2019 FINANCIAL YEAR
COMPARED WITH PREVIOUS YEAR AND IT IS EXPECTED TO COME TO EUR
1.20 PER SHARE

Source text for Eikon:  ID:nAPA74QKG4 
Further company coverage:  SBOE.VI 

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