ADLER MODEMARKTE AG (FRA:ADD) Adler Modemärkte AG: Impacts of COVID-19
Transparency directive : regulatory news
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DGAP-Ad-hoc: Adler Modemärkte AG / Key word(s): Change in Forecast/Forecast Inside information pursuant to Art. 17 MAR from Adler Modemärkte AG Impacts of COVID-19 Withdrawal of the forecast for the financial year 2020 necessary Haibach (near Aschaffenburg), 18 March 2020: Due to the current negative overall economic development resulting from the increasing spread of COVID-19 and the official closures of sales branches in Germany, Austria, Luxembourg and Switzerland to contain it, the management board of Adler Modemärkte AG ("ADLER", the "company") today concluded that the company will not be able to achieve the forecast published for the 2020 financial year. For the current 2020 financial year, Group revenues have so far been forecasted at approximately the same level as the previous year, i.e. around €495 million and an EBITDA of between €66-69 million. From today's perspective, Group revenues and EBITDA in 2020 will be lower than originally forecasted. The previous forecast has therefore been withdrawn.Due to the unprecedented impacts of COVID-19, the company's management board is continuously assessing the situation and considering a variety of measures to support our customers, employees and other stakeholders. However, since the further course of the current COVID-19 situation and thus the temporal delimitation of the resulting consequences cannot be foreseen at present, the management board refrains from issuing a new forecast for the 2020 financial year under the current circumstances. Information and Explanation of the Issuer to this News: About Adler Modemärkte AG:
18-March-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Adler Modemärkte AG |
| Industriestraße Ost 1-7 | |
| 63808 Haibach | |
| Germany | |
| Phone: | +49 (0) 6021 633 0 |
| Fax: | +49 (0) 6021 633 1299 |
| E-mail: | info@adler.de |
| Internet: | www.adlermode.com |
| ISIN: | DE000A1H8MU2 |
| WKN: | A1H8MU |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1001209 |
| End of Announcement | DGAP News Service |
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1001209 18-March-2020 CET/CEST