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. --------------------------------------------------------------------------- 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 Due to the ongoing reviews, the final figures for the fiscal year 2014 will not be published until April 30, 2015.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 --------------------------------------------------------------------------- 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 ---------------------------------------------------------------------------
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
| Source: EQS Group AG