Advance information: LLB Group expects 2017 net profit to be at the level of the previous year

If market conditions stay the same until the end of the year, the LLB Group's net profit for the 2017 fiscal year is likely to be at the level of the previous year (CHF 103.9 million).

This takes account of the deposit of a sum of money at the High Court of Justice in London in connection with a lawsuit involving LLB Verwaltung (Switzerland) Ltd. At the beginning of October 2017, the High Court of Justice in London (being the trial court) found that there were wrongdoings by a former employee and that LLB Verwaltung (Switzerland) Ltd is also liable for the wrongdoings and loss caused by the former employee. LLB Verwaltung (Switzerland) Ltd is not liable as a consequence of its own wrongdoings. The judgement is not yet legally binding. An appeal of the judgement is being considered. On the basis of the judgement in the trial and the non-suspensive effect of any appeal, LLB Verwaltung (Switzerland) Ltd deposited an amount of CHF 15.1 million with the court to cover damages, interest, and lawyers' fees of third parties. Under the IFRS accounting rules, these costs must be reported as general and administrative expenses. LLB Verwaltung (Switzerland) Ltd expects that the damage amount will be covered by insurance.

Important dates

• Thursday, 8 March 2018, Presentation of the 2017 Annual Result
• Wednesday, 9 May 2018, 26th Ordinary General Meeting of Shareholders