DGAP-News: capsensixx AG: 2020 EBITDA (after shares of third parties) of EUR 3.2 to 3.5 million anticipated
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DGAP-News: capsensixx AG
/ Key word(s): Letter of Intent/Disposal
- 2020 EBITDA (after shares of third parties) of EUR 3.2 to 3.5 million anticipated Frankfurt am Main, 13. December 2019 - capsensixx AG (ISIN DE000A2G9M17) today signed a letter of intent (LOI) in connection with an intended management buyout concerning its equity interest in coraixx GmbH & Co. KGaA with Sven Ulbrich. Providing the transaction will be implemented, it will have a negative one-off effect of around EUR 1.7 million on earnings in capsensixx AG's single-entity financial statements pursuant to the German Commercial Code (HGB) in the fourth quarter of 2019 while there will be a positive effect of around EUR 0.2 million on capsensixx's consolidated earnings (IFRS) in the same period. Going forward, capsensixx AG's earnings will no longer be impacted by operative loss-making coraixx GmbH & Co. KGaA. Similarly, the focussing will result in significantly lower costs on a holding level already from 2020 onwards in an amount of more than EUR 0.5 million per year. After it will have given up its equity interest in coraixx GmbH & Co. KGaA, capsensixx will concentrate on its core investments Axxion S.A. and Oaklet GmbH, which have been profitable for years. In the addressed segments Fund Management, Administration & Accounting and Capital Markets & Corporate Services, capabilities and offers can hence be strengthened and supplemented in a market environment characterised by consolidation. Against the backdrop of a streamlined group structure capsensixx anticipates for 2020 earnings before interest, taxes, depreciation and amortisation (EBITDA / after shares of third parties) of EUR 3.2 to 3.5 million. Within the context of sharpening capsensixx AG's business focus, the current member of the Supervisory Board Gregor Langer is to be appointed to the Management Board. CEO Sven Ulbrich leaves the Management Board of capsensixx AG with immediate effect and concentrate in future fully on his activity as managing director of Oaklet GmbH. Contact: capsensixx AG Media Relations
13.12.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | capsensixx AG |
| Bettinastraße 57-59 | |
| 60325 Frankfurt | |
| Germany | |
| E-mail: | [email protected] |
| Internet: | www.capsensixx.de |
| ISIN: | DE000A2G9M17 |
| WKN: | A2G9M1 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 935587 |
| End of News | DGAP News Service |
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935587 13.12.2019
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