vwd Vereinigte Wirtschaftsdienste AG is taking precautionary steps related to the potential acquisition of a 49 % stake in the EDG business group

vwd Vereinigte Wirtschaftsdienste AG  / Key word(s):
Acquisition/Preliminary Results

14.03.2012 18:49

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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Company acquisition/preliminary figures

vwd Vereinigte Wirtschaftsdienste AG is taking precautionary steps related
to the potential acquisition of a 49 % stake in the EDG business group

Frankfurt am Main, March 14, 2012 - The price that vwd Vereinigte
Wirtschaftsdienste AG (vwd AG) would pay to acquire 49 % of the shares in
the EDG business group could possibly exceed the previously assumed total
of EUR 6,168 thousand. The company reached this conclusion following a
preliminary, non-binding remeasurement of the put-option agreement
regarding the acquisition of a 49 % stake in the EDG business group.

The results of the EDG business group announced thus far for fiscal year
2011 prompted vwd AG to proactively and provisionally recalculate the value
of the put-option agreement at EUR 9,540 thousand on the basis of a
reasonable commercial assessment. vwd AG notes that neither prejudice nor
acknowledgement is associated with this remeasurement and that the actual
purchase price may be considerably less than this total.

The precautionary step caused other liabilities reported in the
consolidated financial statements to rise to EUR 18,958 thousand as of
December 31, 2011 (previous year: EUR 12,454 thousand). Even though sales
climbed by 6.3 % to EUR 80,886 thousand (previous year: EUR 76,124
thousand) and EBITDA jumped by 16.7 % to EUR 8,704 thousand in fiscal year
2011 (previous year: EUR 7,455 thousand), the company must report a
consolidated loss of approximately - EUR 2,217 thousand (previous year:
profit of EUR 1,204 thousand) as a result of the preliminary remeasurement
of the put-option agreement. Should the put-option agreement go into effect
and be exercised, the final purchase price would consist of two components
under the arrangement: 80 % of the price would be covered by the issuance
of shares in vwd AG, and 20 % would be paid in cash. The current cash
position of the vwd group totals about EUR 18 million. As a result, the
company would be able to pay the cash component from its own funds. But the
Management Board also reserves the right to obtain external financing to
meet this obligation.

All figures contained in this announcement have not yet been reviewed by
the company's auditor. The complete annual and consolidated financial
statements are expected to be released on March 22, 2012.

vwd Vereinigte Wirtschaftsdienste AG 
The Management Board 

Additional information:
vwd Vereinigte Wirtschaftsdienste AG
Tilsiter Straße 1 
60487 Frankfurt am Main 

Investor Relations: 
Carsten Scharf
Tel: +49 (0) 69-50701-270
Fax: +49 (0) 69-50701-114
E-mail: investorrelations@vwd.com
http://www.vwd.com


14.03.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
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Language:     English
Company:      vwd Vereinigte Wirtschaftsdienste AG
              Tilsiter Straße 1
              60487 Frankfurt am Main
              Germany
Phone:        +49 (0)69 50701-316
Fax:          +49 (0)69 50701-114
E-mail:       cscharf@vwd.com
Internet:     http://www.vwd.com
ISIN:         DE0005204705
WKN:          520470
Listed:       Regulierter Markt in Frankfurt (General Standard);
              Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
              Stuttgart
 
End of Announcement                             DGAP News-Service
 
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