February 1, 2018 / 6:50 AM / 9 months ago

BRIEF-Bastei Lübbe Undertakes Unscheduled Write-Downs And Adjusts Earnings Forecast

Feb 1 (Reuters) - BASTEI LUEBBE AG:

* DGAP-ADHOC: BASTEI LÜBBE AG UNDERTAKES UNSCHEDULED WRITE-DOWNS AND ADJUSTS EARNINGS FORECAST

* ‍WILL UNDERTAKE UNSCHEDULED WRITE-DOWNS OF APPROX EUR 7 MILLION RETROACTIVELY TO Q3 2017/2018​

* ‍CONSOLIDATED REVENUES IN PERIOD FROM APRIL 1 TO DECEMBER 31, 2017, AT AROUND EUR 113 MILLION​

* ‍ADDITIONAL WRITE-DOWN OF AROUND EUR 4 - 5 MILLION IN Q3 OF CURRENT FINANCIAL YEAR 2017/2018 EXPECTED​

* 9MTH EBITDA AMOUNTED TO AROUND EUR 5 MILLION , COMPARED WITH EUR 9.3 MILLION IN PREVIOUS YEAR

* BASTEI LUEBBE - ‍NON-CASH EFFECTS WILL LEAD TO ADDITIONAL IMPACT OF EARNINGS OF AROUND EUR 11 - 12 MILLION IN FINANCIAL YEAR 2017/2018​

* 9MTH EBIT DECLINED TO AROUND EUR -9 MILLION AFTER EUR 5.7 MILLION IN PREVIOUS YEAR

* BASTEI LUEBBE - ‍ASSUMES THAT ORIGINALLY ENVISAGED REVENUE AND EARNINGS TARGETS FOR 2017/2018 CANNOT BE ACHIEVED​

* ‍NOW EXPECTS REVENUES OF AROUND EUR 140 MILLION (PREVIOUSLY: AROUND EUR 160 MILLION) FOR FY​

* SEES FY EBITDA OF AROUND EUR 5 MILLION (PREVIOUSLY: AT LEAST EUR 14 MILLION)

* SEES NEGATIVE EBIT OF AROUND EUR 11 MILLION FOR CURRENT FINANCIAL YEAR Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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