BAUER AG
DGAP-Ad-hoc: BAUER Aktiengesellschaft / Key word(s): Change in Forecast/Final Results 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.
Contact: Christopher Wolf Investor Relations BAUER Aktiengesellschaft BAUER-Strasse 1 86529 Schrobenhausen, Germany Phone: +49 8252 97-1797 Fax: +49 8252 97-2900 investor.relations@bauer.de 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. |
| 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: | investor.relations@bauer.de |
| 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 |
| End of Announcement | DGAP News Service |
643761 08-Jan-2018 CET/CEST
