DGAP-Adhoc: VBH Holding AG: VBH resolves further consolidation measures

 | Source: EQS Group AG EQS Group AG 

VBH Holding AG  / Key word(s): Strategic Company Decision/Restructure of Company

15.06.2012 14:15

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.

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The Executive Board of VBH Holding AG resolved today to implement further
consolidation measures within the Group.
 
These will affect VBH subsidiaries in Asia and Southern Europe. The VBH
business model as a separate trade level in industrial business-to-business
is not working in the Asian markets in particular. Furthermore, the ongoing
financial and economic crisis in Southern Europe with negative growth
prospects and a high degree of political instability reinforces the
Executive Board's decision. The Executive Board is thus systematically
continuing the consolidation strategy introduced in 2011 and strengthening
its chosen course of focusing on the markets where the main earnings
contributions are generated in the Group.

Specifically, VBH will largely withdraw from Asia and will step up
restructuring in Belgium, Greece and Turkey. The negative impact on the
Group's earnings as a result of withdrawing from the markets will amount to
approximately EUR 24 million in 2012. Based on the current projections and
a constant Group tax rate, the Executive Board expects a net loss of around
EUR 15 million for the 2012 financial year. The net loss for the year in
the single-entity financial statements of VBH Holding AG will amount to
approximately EUR 20 million. Due to the net loss for the year, no dividend
will be paid out for the 2012 financial year. In implementing the measures
resolved, the Executive Board is ensuring that the VBH Group is prepared
for the future and thus can return to sustainable profitability.

The figures for the second, third and fourth quarters of 2012 are expected
to include the effects of the measures resolved. The report on second
quarter results will be published on 14 August 2012.

Contact:
F. Bangerter/CFO
Phone: ++49 7150-15200


15.06.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      VBH Holding AG
              Siemensstraße 38
              70825 Korntal-Münchingen
              Germany
Phone:        07150-15-204
Fax:          07150-15-376
E-mail:       g.weber@vbh.de
Internet:     www.vbh.de
ISIN:         DE0007600702
WKN:          760070
Listed:       Regulierter Markt in Frankfurt (Prime Standard), Stuttgart;
              Freiverkehr in Berlin, Düsseldorf
 
End of Announcement                             DGAP News-Service
 
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