EANS-Adhoc: Wolford Aktiengesellschaft Wolford Revises Guidance for the
2016/17 Financial Year and Planning for the Following Years
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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
12.04.2017
On March 17, 2017, Wolford AG announced that it would revise its medium-term
strategic planning and develop a sustainable financing structure. The updated
medium-term planning focuses on sustainably improving cost structures with the
objective of making the company profitable again. Against the backdrop of the
current difficult market environment, the latest planning assumptions foresee
moderate revenue growth of the individual sales channels. A time frame of two
years is stipulated to implement measures designed to improve earnings. The
company plans to generate positive operating results again in the 2018/19
financial year.
Based on the business development during the first nine months, the forecast for
the 2016/17 financial year and the revised medium-term planning, the management
expects to allocate provisions in the 2016/17 financial year in the range of EUR
7 million to EUR 9 million for impairment losses and restructuring measures in
addition to the operating losses amounting to EUR 8 to EUR 10 million. In order
to ensure a sustainable financing structure, the Management Board of Wolford AG
is currently examining various suitable equity capital measures with its core
shareholders. This is targeting the sustainable strengthening of the company's
liquidity. Wolford will provide timely additional information relating to
adjustments in its financing structure and its ongoing business development.
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
