DGAP-Adhoc: All for One Group AG Recognises Tax Income of EUR 2.9 million from Previously Disputed Loss Carryforwards

2019. május 07., kedd, 19:12





DGAP-Ad-hoc: All for One Group AG / Key word(s): Half Year Results/Forecast


All for One Group AG Recognises Tax Income of EUR 2.9 million from Previously Disputed Loss Carryforwards


07-May-2019 / 19:12 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.




All for One Group AG Recognises Tax Income of EUR 2.9 million from Previously Disputed Loss Carryforwards



Filderstadt, 07 May 2019 - In its half-year financial report, All for One Group AG, leading consulting and IT group, is reporting tax income of EUR 2.9 million. The tax income includes refunds of corporate income tax, solidarity surcharges and trade tax for the 2015 and 2016 tax years. In addition to the tax income, the financial result also includes interest income of EUR 0.3 million.



Due to changes in the shareholder structure of All for One Group AG in the financial year 2011, recognition of corporate income tax and trade tax losses carried forward in a total amount of EUR 19.7 million was withdrawn (Section 8c German corporate income tax law) following a tax audit in May 2015. The company appealed against the ruling, citing pending court cases: In March 2018 the appeal was upheld in the form of revised provisional tax assessments for the tax year 2011. Up to and including 2016, the loss carryforwards were fully offset against profits through revised tax assessments.



Until now, it seemed likely that reimbursement of these refunds would be demanded in light of the uncertainties surrounding the taxation issue relating to the provisional nature of the tax assessment and the pending court cases. This is why the amount was initially recognised with no impact on profit or loss (provision on the balance sheet).



Having examined recent facts and circumstances, All for One Group AG has reached the conclusion that it is unlikely according to IAS 37 that the return of the refunds will be demanded. Accordingly, the transaction previously recognised with no impact on profit or loss, now has been reclassified as tax income of EUR 2.9 million and interest income of EUR 0.3 million in the consolidated income statement and only remains as a contingent liability in the notes to the consolidated financial statements. The tax rate (income tax/EBT, 2017/18: 30%) of the financial year 2018/19 is likely to be significantly lower. The EBIT 2018/19 will not be affected.



Contact:


All for One Group AG, Dirk Sonntag, Head of Corporate & Investor Relations, Tel. +49 711 78807-260, E-Mail dirk.sonntag@all-for-one.com



Information and Explanation of the Issuer to this News:

About All for One Group AG

All for One Group AG (ISIN DE0005110001) enhances the competitive ability of its customers in a digital world. The Group unites strategic and management consulting, process consulting, industry insight and technology expertise, IT consulting and services under one roof. With market leading business software solutions based on SAP, Microsoft and IBM together with more than 1,800 experts, All for One Group AG orchestrates all aspects of competitive strength: intelligent Enterprise Resource Planning (ERP) as the digital core of any future-proof corporate IT, strategy, business model, customer & employee experience, new work, big data & analytics, but also IoT, artificial intelligence or cybersecurity & compliance. All for One Group AG is assisting more than 2,500 clients with their transformation and the expansion of their ability to compete. Market observers rank the leading consulting and IT group as the number 1 in the German-speaking SAP market. As a founding member of United VARs - the most powerful global alliance of SAP Partners - All for One Group AG also provides a comprehensive portfolio of consulting and other services, together with best-in-class local support in more than 100 countries. In the financial year 2017/18, All for One Group AG generated sales of EUR 332 million and is listed in the Prime Standard on the Frankfurt Stock Exchange.



https://www.all-for-one.com/en



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Language: English
Company: All for One Group AG

Gottlieb-Manz-Straße 1

70794 Filderstadt-Bernhausen

Germany
Phone: +49 (0)711 78 807-260
Fax: +49 (0)711 78 807-222
E-mail: dirk.sonntag@all-for-one.com
Internet: www.all-for-one.com
ISIN: DE0005110001
WKN: 511000
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 808281





 
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808281  07-May-2019 CET/CEST







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