Ströer SE & Co. KGaA
First Statement of Ströer after Short Attack of Hedge Fund Muddy Waters Capital (news with additional features)
DGAP-News: Ströer SE & Co. KGaA / Key word(s): Statement/Statement PRESS RELEASE First Statement of Ströer after Short Attack of Hedge Fund Muddy Waters Capital Cologne, 21 April 2016 In December 2015, the US hedge fund Muddy Waters Capital announced that they would attack explicitly European companies via short sales. Today, their attack against Ströer had a first climax. Muddy Waters Capital published a tendentious ‘report’ with more than 60 pages and addresses the business case of Ströer. The fact that Muddy Waters Capital already highlights at page 2 of their report that the funds that Muddy Waters Capital advice, are short in Ströer, shows clearly a conflict of interest. – Ströer operationally had the best start into the year in the history of the company – For the first quarter of 2016 we expect an organic growth rate of around 10% – For the full year 2016 we expect revenue between 1.1 and 1.2 EURbn and an operational EBITDA between 270 to 280 EURm – The free cash flow before M&A will be at least 125EURm in 2016 – Ströer announced a dividend of 0.7 EUR/per share for the FY 2015 – Next catalyst: Capital Markets Day LDN 29th April (for details email: ir@stroeer.de), Q1 2016 results: 12th May 2016.
About Ströer For more information on the Company, please visit www.stroeer.com. Press contact Investor relations Disclaimer +++++ 2016-04-21 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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