DGAP-Adhoc: Portigon AG: Expected year end results for 2019 impacted by higher provisions

2019. december 02., hétfő, 17:35





DGAP-Ad-hoc: Portigon AG / Key word(s): Annual Results


Portigon AG: Expected year end results for 2019 impacted by higher provisions


02-Dec-2019 / 17:35 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.




 



Due to the ongoing investigations by the public prosecutor in connection with dividend arbitrage transactions of the former WestLB as a precaution, Portigon AG will be required to build an additional provision for taxes on dividend payments for which a tax credit had been applied for in previous years potentially without justification, as well as interest payments in connection therewith.



Therefore, the Managing Board of Portigon AG has revised its forecast for the annual results of fiscal year 2019. The Management Board is now expecting the annual accounts for 2019 resulting in a loss in the range of approximate 500 Mio € - 600 Mio €.






Contact:

Dr. Carsten Hellinger

Head of Board Secretary

Portigon AG

Voelklinger Str. 4

40219 Duesseldorf

Dr.Carsten.Hellinger@portigon-ag.de

Tel. +49 (0) 211 826 71455








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Language: English
Company: Portigon AG

Völklinger Str. 4

40219 Düsseldorf

Germany
Phone: +49 (0) 211-826-71455
Fax: +49 (0) 211-826-2010
E-mail: Dr.Carsten.Hellinger@portigon-ag.de
Internet: www.portigon-ag.de
ISIN: DE0008364902, XS0100256139
WKN: 836490
Listed: Regulated Unofficial Market in Dusseldorf (Primärmarkt); Luxembourg Stock Exchange
EQS News ID: 925925





 
End of Announcement DGAP News Service




925925  02-Dec-2019 CET/CEST







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