Loewe AG / Key word(s): Change in Forecast
06.12.2012 19:50
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Kronach, December 6, 2012 - As already reported, the revenue generated by
the Loewe Group in the first nine months of the year fell by 7 percent to
EUR173.0 million, compared with EUR186.1 million in the same period of
2011. As a result of the decline in revenue and production volumes, Loewe
incurred a loss before interest and tax of EUR11.1 million for the first
nine months of the year, compared with a loss of EUR11.7 million in 2011.
The ongoing weakness and intense competition in the consumer electronics
sector mean that this negative trend will persist in the final quarter of
2012. It will be accompanied by one-off expenses arising from the stepping
up of systematic restructuring measures. Consequently, Loewe is expected to
experience a decline in revenue and a loss (negative EBIT) for the year as
a whole of around EUR20 million.
---------------------------------------------------------------------------
Information and Explaination of the Issuer to this News:
Contacts:
Loewe AG
Industriestrasse 11
96317 Kronach
Germany
Axel Gentzsch, Investor Relations
Tel.: +49 (0)9261 99240
Fax: +49 (0)9261 99994
Email: axel.gentzsch@loewe.de
Dr. Roland Raithel, Public Relations
Tel.: +49 (0)9261 99217
Fax: +49 (0)9261 99444
Email: roland.raithel@loewe.de
06.12.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: Loewe AG
Industriestrasse 11
96317 Kronach
Germany
Phone: +49 (0)9261 99-984
Fax: +49 (0)9261 99-994
E-mail: ir@loewe.de
Internet: www.loewe.de
ISIN: DE0006494107
WKN: 649410
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart
End of Announcement DGAP News-Service
---------------------------------------------------------------------------
DGAP-Adhoc: Loewe AG: 2012 fiscal year
| Source: EQS Group AG