Bauer AG - Earnings Release 2017 | FinancialReports.eu

News Details

Ad-hoc | 8 January 2018 20:34

BAUER Aktiengesellschaft: BAUER AG must correct forecast due to unexpected single valuation allowances from a legal dispute

BAUER Aktiengesellschaft / Key word(s): Change in Forecast/Final Results

BAUER Aktiengesellschaft: BAUER AG must correct forecast due to unexpected single valuation allowances from a legal dispute

08-Jan-2018 / 20:34 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

Schrobenhausen – BAUER Aktiengesellschaft (ISIN DE0005168108) must reduce their 2017 full-year earnings forecast due to the unexpected outcome of long-standing arbitration proceedings.

The arbitration proceedings related to a project in Hong Kong, during which an -affiliated company of the BAUER Group carried out major construction works for an underground train station in 2011 and 2012. Following the judgment, the Management Board now expects that compensation claims will have to be depreciated in the accounts of this affiliated company 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, and from today’s perspective, now expects an EBIT of around EUR 65 million and earnings after tax that should be just in the positive range. Prior to this, an EBIT of around EUR 75 million and earnings after tax of around EUR 23 to 28 million were expected. The forecast for the total Group revenues remain unchanged at around EUR 1.8 billion.

As this is a one-off extraordinary effect, no impact on future earning power will be inferred from it. From an operative point of view, the 2017 financial year was significantly more positive than compared to previous years and the order backlog is also at a very good level for the future.

BAUER AG will publish the final figures for the 2017 financial year on April 12, 2018.

Additional information:

ISIN: DE0005168108, Bloomberg B5A

Official market / Prime Standard; Frankfurt Stock Exchange

Contact:

Christopher Wolf

Investor Relations

BAUER Aktiengesellschaft

BAUER-Strasse 1

86529 Schrobenhausen, Germany

Phone: +49 8252 97-1797

Fax: +49 8252 97-2900

[email protected]

www.bauer.de

Information and Explanation of the Issuer to this News:

The method of calculating the total Group revenues can be found in the appendix of the 2016 Annual Report on page 105: http://www.bauer.de/bauer_group/investor_relations

08-Jan-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

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Language:	English
Company:	BAUER Aktiengesellschaft
	BAUER-Straße 1
	86529 Schrobenhausen
	Germany
Phone:	+49 (0)8252 97 1218
Fax:	+49 (0)8252 97 2900
E-mail:	[email protected]
Internet:	www.bauer.de
ISIN:	DE0005168108
WKN:	516810
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange