Brief: TCM Group Acquires Aubo Production, Revises FY Guidance

TCM A/S

19/06/2023 13:08

June 19 (Reuters) - TCM Group A/S  TCM.CO :
    * REG-TCM GROUP A/S: TCM GROUP A/S ACQUIRES 100% OF THE
SHARES IN
AUBO PRODUCTION A/S
    * TRANSACTION IS EXPECTED TO CLOSE SHORTLY
    * PURCHASE PRICE FOR SHARES IN AUBO WILL, ON A DEBT FREE
BASIS,
AMOUNT TO DKK 165 MILLION PLUS POTENTIAL EARN-OUT PAYMENTS
    * TOTAL PURCHASE PRICE WILL AMOUNT TO IN TOTAL DKK 225
MILLION
    * AS A RESULT OF TRANSACTION FULL YEAR OUTLOOK FOR TCM GROUP
A/S
IS REVISED
    * FULL YEAR REVENUE IS EXPECTED TO BE IN RANGE OF DKK
1,050-1,175
MILLION (PREVIOUSLY DKK 950-1,050 MILLION)
    * GUIDANCE FOR FULL YEAR ADJUSTED EBIT IS NOW EXPECTED TO BE
IN
RANGE OF DKK 68-102 MILLION (PREVIOUSLY DKK 60-90 MILLION)
    * AS PART OF ACQUISITION AGREEMENT SELLERS OF COMPANY WILL
ISSUE A
VENDOR NOTE FOR A PART OF SALES PRICE
    * SELLERS ACCEPT PAYMENT IN FORM OF SHARES IN TCM GROUP
AMOUNTING
TO DKK 10 MILLION

Source text for Eikon:  ID:nGNE1bK1Bb 
Further company coverage:  TCM.CO 

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