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from Muehlhan AG (isin : DE000A0KD0F7)

EQS-Adhoc: Muehlhan AG: Correction to the Group forecast for financial year 2023

EQS-Ad-hoc: Muehlhan AG / Key word(s): Change in Forecast
Muehlhan AG: Correction to the Group forecast for financial year 2023

12-Jul-2023 / 09:12 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Publication of Inside Information in Accordance with Article 17 MAR

 

Muehlhan AG: Correction to the Group forecast for financial year 2023

 

Hamburg, July 12, 2023—Muehlhan AG (Open Market; ISIN DE000A0KD0F7; WKN A0KD0F) (the “company”) hereby announces that the Group’s forecast for the 2023 financial year is being corrected.

In the 2022 Annual Report published on April 14, 2023, revenues of €15 million to €20 million and EBIT break-even were forecast for the 2023 financial year.

The company now expects revenues to come in at between €10 million and €15 million, and EBIT between €-2.0 million and €-2.5 million.

The main reasons for the forecast correction are unexpectedly lower business activity in the Middle East, and a heavier strain on Russian operations due to the war in Ukraine and sanctions imposed in connection with this.

In addition, the company anticipates that consolidated income will be affected significantly more than previously expected due to one-time effects, particularly in connection with the settlement of the sale of key subsidiaries and other assets in the previous year, as well as costs in connection with the share buyback program. Furthermore, the company expects that the risk indicated in the 2022 Annual Report from the termination of an investment project on the German North Sea coast will come to fruition. The company has made a provision for this purpose.

You can request further information from:

 

Muehlhan AG

Investor Relations

Frithjof Dorowski

Phone: +49 (0)40 752 71-166

E-mail: investorrelations@muehlhan.com

 

About Muehlhan: Muehlhan AG is a listed corporation traded on the Open Market of the Frankfurt Stock Exchange (ISIN: DE000A0KD0F7 / WKN A0KD0F).

 

You can find additional information at www.muehlhan-ag.com

 

Contact: Muehlhan AG; phone: +49 40 75271-0;

e-mail: investorrelations@muehlhan.com

 

 



End of Inside Information

12-Jul-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language:English
Company:Muehlhan AG
Schlinckstrasse 3
21107 Hamburg
Germany
Phone:+49 40 75271 0
Fax:+49 40 75271 130
E-mail:investorrelations@muehlhan.com
Internet:www.muehlhan.com
ISIN:DE000A0KD0F7
WKN:A0KD0F
Listed:Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID:1677885

 
End of AnnouncementEQS News Service

1677885  12-Jul-2023 CET/CEST

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