Publication of Insider Information according to [Art. 17 MAR]

INDUS Holding AG recognizes non-cash impairment losses on goodwill as well as write-downs on property, plant and equipment and deferred tax assets in the Automotive Technology and Metals Technology segments in its interim financial statements

Bergisch Gladbach, 7 July 2020 – INDUS Holding AG recognizes non-cash impairment losses on goodwill in its consolidated financial statements for the first six months of 2020. The impairment losses in the amount of approx. EUR 31.6 million are the result of the poorer outlook of the entities affected by the write-downs, which became apparent during the additional mid-year planning process made necessary by the coronavirus pandemic and the subsequent impairment tests. Approx. EUR 29.2 million of the total amount is attributable to the Automotive Technology segment, while the Metals Technology segment accounts for approx. EUR 2.4 million.

The Board of Management also adopted measures to streamline unprofitable operations. In the financial statements for the first six months, these measures lead to write-downs on property, plant and equipment and deferred tax assets as well as the formation of provisions in the total amount of around EUR 12.5 million. Approx. EUR 7.9 million thereof is attributable to the Automotive Technology segment, while the Metals Technology segment accounts for approx. EUR 4.6 million.

In total, non-cash write-downs of approx. EUR 42.8 million and cash charges of approx. EUR 1.3 million are therefore reported in the interim consolidated financial statements.

The write-downs will affect various key performance indicators such as earnings after interest and taxes (EBIT), earnings after taxes and the equity ratio.

The full report on the first six months of 2020 will be published on 6 August 2020.