Ad hoc release pursuant to Section 15 Wertpapierhandelsgesetz [German Securities Trading Act] 11880 Solutions AG adjusts its forecast due to massive restructuring measure

Munich / Planegg, 23 December 2016 - Due to a major restructuring measure 11880 Solutions AG adjusts its forecast published at the beginning of the year. The company now expects to close the financial year 2016 with an EBITDA of around -EUR 2.9 million.

The expected EBITDA and in consequence also the segment results have to be reduced mainly due to costs for adjusting the organization to a new product and sales structure in December 2016. This measure comprises a reduction of all administrative units by nearly 100 out of 700 headcounts at all company locations.

With a much leaner cost structure 11880 Solutions AG can now proceed its strategic reorientation in the coming financial year 2017.

11 88 0 Solutions AG published this content on 23 December 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 25 December 2016 10:38:01 UTC.

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