Softing AG: Revenue shift and FX impact result in adjusted SOFTING guidance for financial year 2017
October 27, 2017 at 09:40 am EDT
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DGAP-Ad-hoc: Softing AG / Key word(s): Profit Warning
Softing AG: Revenue shift and FX impact result in adjusted SOFTING guidance for financial year 2017
27-Oct-2017 / 15:36 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.
SOFTING AG previously forecast EBIT of slightly more than EUR 5 million for the 2017 financial year. SOFTING adjusts its expected EBIT to a figure of between EUR 2 and 2.5 million.
Revenue developed largely as expected during the first nine months of 2017. A subsidiary that works for a major international automation electronics manufacturer communicated to SOFTING that a payment of just under EUR 2 million for development costs expected this year will be delayed beyond the end of the year. As things stand, this payment for a newly developed product is expected to be made in full or in parts in 2018. Additional portions of the payment are expected to be made together with product deliveries in 2018.
Furthermore, the considerable foreign currency translation effects seen in the balance sheet as a result of the development of the Euro-US dollar exchange rate will have a negative impact on earnings for the year. This impact could add up to EUR 1 million by the end of this year.
Despite its positive performance seen and expected in the fourth quarter 2017, SOFTING does not expect being able to compensate for the negative factors described above.
The Executive Board
27-Oct-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language:
English
Company:
Softing AG
Richard-Reitzner-Allee 6
85540 Haar
Germany
Phone:
+49 (0)89 456 56-333
Fax:
+49 (0)89 456 56-399
E-mail:
InvestorRelations@softing.com
Internet:
www.softing.com
ISIN:
DE0005178008
WKN:
517800
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
Softing AG is a Germany-based software and systems company. The Company operates through two segments: Industrial Automation and Automotive Electronics. The Industrial Automation segment provides tools and devices for signal and protocol analysis of industrial communication networks, gateways for linking fieldbuses to Ethernet-based communication systems and planning and administration systems, as well as interface cards, integration modules, chip solutions and communications software (stacks) for implementing bus links in systems and devices used in process and production automation. The Automotive Electronics segment offers diagnostic solutions for development, testing and production, editors for diagnostic data, diagnostic servers for the real-time processing of diagnostic data, as well as software interfaces for connecting diagnostic servers to production systems and editing and runtime systems for test sequences with connections to numerous third-party products.
SOFTING AG 
