EQS News

BUWOG AG

  • WKN: A1XDYU
  • ISIN: AT00BUWOG001
  • Land: Österreich

Nachricht vom 19.04.2018 | 11:05

BUWOG AG: Application of the newly applicable regulations of IFRS 15 in BUWOG Group

BUWOG AG / Key word(s): Forecast
BUWOG AG: Application of the newly applicable regulations of IFRS 15 in BUWOG Group

19-Apr-2018 / 11:05 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Ad-hoc release

Disclosure of inside information pursuant to Article 17 of the Regulation (EU) No 596/2014

Application of the newly applicable regulations of IFRS 15 in BUWOG Group

As laid out in its Annual Report 2016/17, BUWOG Group will, on the basis of the for BUWOG Group mandatory new rules and regulations of IFRS 15, recognise sales of real estate inventories in its business area Property Development proportionally and period-based. Thus, revenues and costs of goods sold as well as contractual assets and liabilities will be recognised period-based and proportional to the duration of the respective project and its respective stage of completion (percentage-of-completion method). For its financial year 2018/19, BUWOG Group expects a positive impact - merely accountingwise - on the Recurring FFO in the amount of approx. EUR 30mn in addition to its previously communicated outlook of EUR 150mn on the basis of the previously applicable accounting practice.


About BUWOG Group

BUWOG AG, Hietzinger Kai 131, 1130 Vienna, Austria, is the leading German-Austrian full-service provider in the residential property business and now looks back on 67 years of expertise. Its high quality property portfolio encompasses approximately 48,800 units and is distributed between Germany and Austria. In addition to asset management the entire value chain of the real estate sector is covered by the sales and development business areas. The shares of BUWOG AG (ISIN AT00BUWOG001) are listed on the Frankfurt, Vienna (ATX) and Warsaw stock exchanges. The Convertible Bond 2016 - 2021 (ISIN AT0000A1NQH2) is listed on the Third Market (MTF) of the Vienna stock exchange


Contact

Holger Lueth
BUWOG AG
Managing Director Corporate Finance & Investor Relations
Email: investor@buwog.com
T +43-1-878 28 1203

Jan-Hauke Jendrny
BUWOG AG
Email: investor@buwog.com
T: +49-30-338539 1873
 


19-Apr-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



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