COR&FJA AG / Key word(s): Change in Forecast
26.11.2013 11:44
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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COR&FJA reduces earnings forecast for the financial year 2013
(Leinfelden-Echterdingen, 26 November 2013) - COR&FJA AG is again reducing
its earnings forecast for the current financial year. Instead of the 3.0
million euros that had previously been anticipated for earnings before
interest, taxes, depreciation of property, plant and equipment, and
amortisation of intangible assets (EBITDA), the company's EBITDA is now
expected to more or less break even in 2013. Furthermore, the forecast for
aggregate turnover in 2013 has been adjusted from its previous 135.0
million euros to 133.0 million euros.
Chiefly attributable to the change in the forecast is the fact that the
sale of the company's subsidiary COR&FJA Banking Solutions GmbH (ad-hoc
announcement by COR&FJA AG on 14 November 2013) has led to one-off expenses
measured through profit and loss in the 2013 financial year. These had not
previously been included in the plans. The generally subdued market
situation is also having a negative effect on turnover.
In view of the ongoing cost-cutting programme, as well as the strategic
realignment which has almost been completed, COR&FJA is assuming that with
the transitional year of 2013 behind it, the company will show a healthy
economic trend from 2014 onwards. The company is going to publish the group
financial report for the first nine months of the current year on 28
November 2013.
Issuing party:
COR&FJA AG
Investor Relations
HumboldtstraÃe 35, 70771 Leinfelden-Echterdingen
Tel. +49 711 94958-0
E-mail: investor.relationsâ@âcor.âfja.com
Internet: www.cor.fja.com
WKN 513010, ISIN DE0005130108
Stock exchange centres: regulated market in Frankfurt (Prime Standard);
open market in Berlin, Düsseldorf, Hamburg, Stuttgart
26.11.2013 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: COR&FJA AG
HumboldtstraÃe 35
70771 Leinfelden-Echterdingen
Germany
Phone: +49 (0)711 94958-0
Fax: +49 (0)711 94958-49
E-mail: investor.relations@cor.fja.com
Internet: www.cor.fja.com
ISIN: DE0005130108
WKN: 513010
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart
End of Announcement DGAP News-Service
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DGAP-Adhoc: COR&FJA AG: COR&FJA reduces earnings forecast for the financial year 2013
| Source: EQS Group AG