DGAP-Adhoc: MAX Automation SE resolves to sell subsidiaries

2018. szeptember 25., kedd, 16:22





DGAP-Ad-hoc: MAX Automation SE / Key word(s): Disposal


MAX Automation SE resolves to sell subsidiaries


25-Sep-2018 / 16:22 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.




MAX Automation SE, Düsseldorf



Ad hoc announcement pursuant to Article 17 Market Abuse Regulation (MAR)



MAX Automation SE resolves to sell subsidiaries



Düsseldorf, 09/25/2018 - The Supervisory Board of MAX Automation SE decided today that the Group will no longer pursue the construction of special purpose machines/assembly lines for customers in the automotive sector. A structured sales process will be initiated for the subsidiaries of IWM Automation Group (IWM Automation GmbH and IWM Automation Bodensee GmbH), ELWEMA Automotive GmbH and in connection with this the 51 % investment in MAX Automation (Shanghai) Co., Ltd. The aim is to complete the sale process in the course of the coming year. The subsidiaries to be divested will be accounted for as discontinued operations in the MAX Automation Group as of the third quarter of 2018.



An in-depth analysis of the market conditions and the competitive situation based on the Group"s strategy program 2021 came to the conclusion that the construction of special purpose machines/assembly lines in the automotive sector no longer fits into the profitability and risk profile of the high-tech mechanical engineering Group against the background of changing customer requirements. The Supervisory Board assumes that the withdrawal from this business will have a positive effect on the Group"s earnings position, risk profile and financial strength in the medium term. The measures will also create scope for the further development of the other MAX business segments in Industrial Automation and Environmental Technology.



Group earnings after taxes in 2018 will be significantly burdened by operating and extraordinary losses of the IWM Group of approximately EUR 20 million as well as one-off expenses to improve its profitability. As a result of the change in the accounting principles from the third quarter onwards, the Supervisory Board anticipates sales between EUR 270 to 280 million for the Group"s continuing operations for the whole year 2018 and earnings before interest and taxes (EBIT) and PPA depreciation between EUR 16 and 18 million.



Contact:

Frank Elsner

Frank Elsner Kommunikation für Unternehmen GmbH

Phone: +49 - 5404 - 91 92 0

Fax: +49 - 5404 - 91 92 29

About MAX Automation SE

MAX Automation SE (Securities Identification Number: A2DA58) with its headquarters in Düsseldorf is an internationally active high-tech mechanical engineering Group and a leading full-service supplier of integrated and sophisticated system and component solutions. Its operational business is divided into two segments. In the Industrial Automation segment (with the business sectors Life Science Automation, Process Technologies, New Automation Technologies und Mobility Automation), the Group is considered to be a trendsetter in the development and manufacturing of integrated and proprietary solutions for use in manufacturing and assembly in the automotive industry, medical technology, packaging machines and the electronics industry due to its comprehensive technological know-how. In the Environmental Technology segment, MAX Automation develops and installs innovative systems for use by the recycling, energy and raw materials industries.
www.maxautomation.com











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Language: English
Company: MAX Automation SE

Breite Straße 29-31

40213 Düsseldorf

Germany
Phone: +49 (0)211 90991-0
Fax: +49 (0)211 90991-11
E-mail: Investor.Relation@maxautomation.com
Internet: www.maxautomation.com
ISIN: DE000A2DA588
WKN: A2DA58
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange





 
End of Announcement DGAP News Service




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