Publication of Insider Information according to [Art. 17 MAR]
INDUS announces non-cash write-downs on goodwill and on property, plant and equipment in the Automotive Technology segment
Bergisch Gladbach, 7 November 2019 – In the third quarter of 2019, INDUS Holding AG recognized non-cash write-downs on goodwill and on property, plant and equipment in the amount of EUR 12.5 million in the consolidated financial statements. These write-downs exclusively relate to the Automotive Technology segment. They are the result of the poorer outlook of the entities affected by the write-downs, which became apparent during the current planning process and the subsequent impairment tests.
In line with the forecast of 14 October 2019, the Board of Management continues to project operating earnings before interest and taxes (EBIT) before impairment of between EUR 129 million and EUR 135 million for the full year 2019. Taking the write-downs into account, earnings before interest and taxes are expected to amount to between EUR 116 million and EUR 122 million.
EBIT are composed as shown on page 12 of the H1 2019 Interim Report of INDUS Holding AG.
The complete Interim Report for Q3 2019 will be published on 14 November 2019.