EANS-Adhoc: Wolford Aktiengesellschaft Wolford Revises Guidance for the
Current Financial Year
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Disclosed inside information pursuant to article 17 Market Abuse Regulation
(MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution.
The issuer is solely responsible for the content of this announcement.
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Earnings Forecast/Company Information
25.01.2017
The Management Board of Wolford AG revised its guidance for the current 2016/17
financial year (May 1, 2016 - April 30, 2017). In spite of a slight recovery in
its revenue development starting in November 2016 and Christmas sales matching
the prior-year level, revenue in January declined again, so that the revenue
decrease up until now equals close to 8% compared to the previous year.
As already reported, the weak market environment in the first half-year along
with negative currency effects, particularly in relation to the British pound,
and an internal problems in sales planning combined to burden earnings. At the
present time, the management is fully focusing on realizing additional revenue
potential and improving the company's operating results. Wolford will not be
able to compensate for the corresponding revenue decline and the losses incurred
before the financial year ends on April 30, 2017. Against this backdrop, the
management expects negative operating results ranging between minus EUR 8.0
million and minus EUR 10.0 million for the entire current 2016/17 financial
year.
The Wolford Group will restructure its financing in order to ensure sufficient
financial resources to fulfill the company's liquidity needs. Wolford AG will
announce further details on adjustments to the financing structure and its
business development within the context of publishing its Report on the Third
Quarter of 2016/17 (March 17, 2017).
Further inquiry note:
Wolford AG
Maresa Hoffmann
Referentin Investor Relations & Corporate Communications
Tel.: +43 5574 690 1258
investor@wolford.com | company.wolford.com
end of announcement euro adhoc
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issuer: Wolford Aktiengesellschaft
Wolfordstrasse 1
A-6900 Bregenz
phone: +43 (0) 5574 690-1268
FAX: +43 (0) 5574 690-1219
mail: investor@wolford.com
WWW: http://company.wolford.com
sector: Textiles & Clothing
ISIN: AT0000834007
indexes: ATX Prime, ATX GP
stockmarkets: free trade: Frankfurt, regulated dealing: Wien, ADR: New York
language: English
