DGAP-Adhoc: euromicron AG: Corrections to past consolidated statements in accordance with IAS 8 reduce equity capital-Publication of the annual and consolidated financial statements for 2014 to be postponed-Chairman of the Executive Board resigns from this position

euromicron AG  / Key word(s): Miscellaneous/Change of Personnel

24.03.2015 00:01

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Frankfurt/Main, March 23, 2015 - In connection with the preparation of the
2014 IFRS consolidated financial statements for euromicron AG, errors that
pertain to accounting and valuation of certain projects in the previous
periods were discovered. Based on the information currently available,
these errors made in the fiscal years 2012 and 2013 must be corrected in
the consolidated financial statements for 2014 with no effect on profit or
loss in accordance with IAS 8. The exact amount of the corrections is
currently being calculated and will result in an equity capital reduction
in the IFRS consolidated financial statements for 2014 most likely in the
amount of approximately EUR 15 million. As of September 30, 2014, the group
equity capital amounted to approximately EUR 126 million, which equates to
an equity capital ratio of approx. 40%. The aforementioned corrections do
not have any negative effects on the existing liquidity of the group.
Furthermore, the company expects that all of the financial covenants agreed
to with credit institutes will be fulfilled.

Group sales for 2014 will most likely lie within the projected corridor of
between EUR 340 million and EUR 360 million. The EBITDA margin will be
around the lower end of the projected range of between 6-8%.

In the HGB individual financial statement for the AG for the fiscal year
2014, the existing accumulated deficit will increase due to the fact that
the previously mentioned corrections are to be processed under the current
accounts under commercial law. Due to the expected accumulated loss in the
HGB individual financial statement for euromicron AG 2014, no dividend
payment for 2014 will be proposed to the Annual General Meeting.

Due to the ongoing reviews, the final figures for the fiscal year 2014 will
not be published until April 30, 2015. Because of this delay, the Annual
General Meeting will take place end of June 2015. The exact date will be
announced well in advance.

The Chairman of the Executive Board of euromicron AG, Dr. Willibald Späth,
has resigned today from his position as member of the Executive Board of
the company with immediate effect. The sole member of the Executive Board
Thomas Hoffmann will attend to Dr. Späth's responsibilities until further
notice.


24.03.2015 The DGAP 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:      euromicron AG
              Zum Laurenburger Hof 76
              60594 Frankfurt am Main
              Germany
Phone:        +49(0) 69 631583-0
Fax:          +49(0) 69 631583-17
E-mail:       info@euromicron.de
Internet:     www.euromicron.de
ISIN:         DE000A1K0300
WKN:          A1K030
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated
              Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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