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MarketScreener Homepage  >  Equities  >  Xetra  >  Steinhoff International Holdings    SNH   NL0011375019

STEINHOFF INTERNATIONAL HOLDINGS (SNH)
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Steinhoff Shares Slump After Report Furniture Maker Probed For Alleged Accounting Fraud

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08/24/2017 | 01:20pm CEST
 By Ulrike Dauer, Stefanie Haxel and Michael Denzin 
 

Shares of Steinhoff International Holdings N.V. slumped 8.7% to EUR3.87 on the German MDAX midcap index following a media report that German prosecutors are investigating the company's chief executive and other managers for alleged accounting fraud. Steinhoff is Europe's second-largest furniture manufacturer after Ikea. Its shares are listed in Frankfurt and Johannesburg. German prosecutors in Oldenburg said they couldn't immediately comment on the report. Steinhoff spokespeople at the company's South African headquarters weren't immediately available to comment. According to the media report, which cites German prosecutors, the investigation, which started in 2015, alleges that transactions within the group inflated revenue numbers in group subsidiaries, amounting to a three-digit-million euro sum for each transaction in question.

Write to Ulrike Dauer at ulrike.dauer@wsj.com, Stefanie Haxel at stefanie.haxel@wsj.com and Michael Denzin at michael.denzin@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
MDAX 0.49% 26633.62 Delayed Quote.0.67%
STEINHOFF INTERNATIONAL HOLDINGS 3.08% 0.134 Delayed Quote.-58.99%
STEINHOFF INTERNATIONAL HOLDINGS NV -5.56% 2.21 End-of-day quote.-53.47%
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Financials (€)
Sales 2017 20 004 M
EBIT 2017 1 886 M
Net income 2017 1 481 M
Debt 2017 4 843 M
Yield 2017 95,3%
P/E ratio 2017 0,43
P/E ratio 2018 -
Capi. / Sales 2017 0,27x
Capi. / Sales 2018 -
Capitalization 602 M
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Managers
NameTitle
Daniël Maree van der Merwe Chief Executive & Operating Officer
Heather Joan Sonn Chairman-Supervisory Board
Philip Dieperink CFO & Member-Supervisory Board
Steve F. Booysen Independent Member-Supervisory Board
Angela Krüger-Steinhoff Member-Supervisory Board
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