Extraordinary expenses in connection with the takeover by MECCA/Midea impact earnings in 2016
KUKA reports record level of orders received amounting to around EUR 890 million in the second quarter of 2016
July 21, 2016
Zugspitzstrasse 140, 86165 Augsburg, Germany
- ISIN DE0006204407 (KUKA shares not tendered) -
- ISIN DE000A2BPXK1 (KUKA shares already tendered) -
Listed on the following German stock exchanges:
Frankfurt am Main and Munich
Market segment: Prime Standard
Insider information according to Article 17 MAR
Extraordinary expenses in connection with the takeover by MECCA/Midea impact earnings in 2016KUKA reports record level of orders received amounting to around EUR 890 million in the second quarter of 2016
In reference to the tender offer of MECCA International (BVI) Limited ("Bidder"), a 100% subsidiary of Midea Group Co., Ltd. ("Midea"), as of 16 June 2016, extraordinary expenses will be incurred for such items as consultancy costs and costs resulting from the share programs for employees. In the 2016 financial year, the Executive Board is anticipating an impact on the earnings before interest and taxes (EBIT) of around EUR 30 million, of which approximately EUR 21 million must already be taken into account as of June 30, 2016.
The Executive Board still expects for the 2016 financial year sales revenues in excess of EUR 3.0 billion and an EBIT margin of more than 5.5% before purchase price allocation for Swisslog, though now also before extraordinary expenses amounting to around EUR 30 million.
In the second quarter of 2016, KUKA achieved orders received amounting to approximately EUR 890 million according to preliminary figures, significantly surpassing expectations.
Augsburg, July 21, 2016
The Executive Board