Correction of the sales and profit forecast for the fiscal year 2017/2018 (end of the fiscal year 31 May 2018)

Due to various project delays on the customer side, which were not distinct enough to predict, it is now no longer considered possible in the remaining approx. five to six weeks of the fiscal year 2017/2018 to keep the fall in profits already anticipated in the semiannual report low compared to the previous year. At present, sales amounting to around €18.3 million are to be expected. Negative special effects (e.g. exchange rate effects and increased accruals and deferrals) will also have an impact on the result and it is possible that there will be a negative Group result instead of the balanced Group result.

Information and explanatory notes from the issuer on this Corporate News:

“After the new German federal government is in office and work has commenced, we can assume that various projects will be approved functionally and in terms of budget at a national level and will once again pick up speed. A larger southern German project and its awarding is also set to be resumed on the customer side during the changeover of the fiscal year in May/June. These project delays had a negative influence on the course of the fiscal year 2017/2018, but can reinforce the nevertheless positive outlook for the fiscal year 2018/2019. CEO and Chairman of the Board Thomas H. Günther: “Assuming optimum market conditions, we aim to increase Group sales to approximately €25 million by the fiscal year 2022/2023, with a correspondingly high positive figure for Group EBIT.”

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CeoTronics AG
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