MAX Automation SE

  • WKN: A2DA58
  • ISIN: DE000A2DA588
  • Land: Deutschland

Nachricht vom 28.02.2020 | 11:10

MAX Automation SE: Restatement according to IAS 8 within the scope of the consolidated financial statements 2019

MAX Automation SE / Key word(s): Annual Results/Preliminary Results
MAX Automation SE: Restatement according to IAS 8 within the scope of the consolidated financial statements 2019

28-Feb-2020 / 11:10 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 (PURSUANT TO SECTION 17 GERMAN SECURITIES TRADING ACT (WPHG))

MAX Automation SE: Restatement according to IAS 8 within the scope of the consolidated financial statements 2019

Duesseldorf, 28 February 2020 -
MAX Automation SE ("MAX Automation") will retroactively adjust its prior-year figures in the context of the consolidated financial statements as of 31 December 2019. This is due to irregularities in the valuation of inventories in 2018 and earlier, which were identified, reported (ad hoc release 19 December 2019) and now confirmed during the audits of the annual financial statements of iNDAT Robotics GmbH ("iNDAT"), a subsidiary of MAX Automation. These are primarily due to deficiencies in iNDAT's internal control system, which have since been corrected.

On the basis of the analyses, the correction of the total operating revenue amounts to EUR 4.9 million, of which EUR 3.6 million relates to 2018 and EUR 1.3 million to earlier years. The correction will be made by retrospectively adjusting the previous year's figures in the consolidated financial statements as of 31 December 2019. As a result of the adjustment, the EBITDA of the MAX Automation Group as well as the core business will each increase by EUR 4.9 million.

For the full year 2019, the Group will achieve operating earnings before interest, taxes, depreciation and amortization (EBITDA) and, excluding the first-time application of IFRS 16 (Leasing), a minus of maximum EUR 6 million, according to provisional calculations. This is within the previous forecast of minus EUR 6 million to minus EUR 10 million. According to preliminary calculations, MAX Automation expects EBITDA in its core business to be at least EUR 31 million. The previous forecast had assumed a range of EUR 26 million to EUR 28 million. The IFRS 16 effect will have an additional positive EBITDA effect on the Group of around EUR 4 million.

For the group sales, preliminary calculations indicate an amount to around EUR 425 million (forecast EUR 400 million to EUR 420 million). For the core business, MAX Automation expects sales of approximately EUR 339 million. The forecast had envisaged a range of EUR 320 to 330 million.

Detailed financial information

The information in this notification is preliminary.

The complete consolidated financial statements of MAX Automation SE for fiscal year 2019 will be published on 17 March 2020 and will be available for download at www.maxautomation.com.

Contact:
Katja Redweik
Head of Corporate Development/IR
MAX Automation SE
Tel.: +49 - 211 - 9099 144
katja.redweik@maxautomation.com
www.maxautomation.com

Contact for media representatives:

Susan Hoffmeister   Marco Cabras
CROSS ALLIANCE communication GmbH   newskontor - Agentur für Kommunikation
Tel.: +49 - 89 - 125 09 03 30   Tel.: +49 - 211 - 863 949 22
sh@crossalliance.de   marco.cabras@newskontor.de

28-Feb-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



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