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KAP AG
Earnings Release • Jun 28, 2019
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Earnings Release
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News Details
Ad-hoc | 28 June 2019 11:38
KAP AG revised forecast for fiscal year 2019
KAP AG / Key word(s): Change in Forecast
KAP AG revised forecast for fiscal year 2019
28-Jun-2019 / 11:38 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
KAP AG REVISED FORECAST FOR FISCAL YEAR 2019
Fulda, 28 June 2019 – KAP AG is today revising its revenues and earnings forecast for the 2019 financial year in light of current extraordinary developments and a changed view on the economic outlook. The reason for the updated forecast was a fire damage suffered at the Reichenbach site which leads to a negative impact on revenues and earnings in the surface technologies segment. At the same time, against the background of identified irregularities in the valuation of inventories, write-downs in the engineered products segment are necessary. The amount of these write-downs can not yet be precisely determined and requires further investigation. In addition, the current economic outlook leads to a reduced demand from customers. Based on more reliable information on the impacts of individual effects, the Executive Board plans to publish an updated forecast at the beginning of the fourth quarter of 2019.
Contact
KAP AG
Nadine Kaldenbach
T: +49 661 103 716
Kirchhoff Consult AG
Michael Werneke
T: +49 40 609 186 34
Information and Explanation of the Issuer to this News:
About KAP AG
KAP AG is a mid-sized German industrial group with approximately 3,000 employees. We specialise in engineered products, flexible films, it/services, surface technologies and precision components, developing innovative industrial products and technological solutions for international companies from trade and industry. As a result of our dedicated long-term business strategy, we serve a number of attractive niche markets with sustainable growth potential. Our focus is to develop market-leading specialized high-margin industrial product lines within these segments. As a reliable partner in the context of succession planning, we also acquire attractively positioned medium-sized family companies with a view to strengthening our existing segments or developing new ones. Holders of KAP shares benefit from our company’s growth trajectory and continuous dividend policy.
28-Jun-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | KAP AG |
| Edelzeller Straße 44 | |
| 36043 Fulda | |
| Germany | |
| Phone: | 06611030 |
| Fax: | 0661103830 |
| E-mail: | [email protected] |
| Internet: | www.kap.de |
| ISIN: | DE0006208408 |
| WKN: | 620840 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange |
| EQS News ID: | 832871 |
| End of Announcement | DGAP News Service |