Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014
AKASOL AG: Adjustment of the forecast for the financial year 2021
Darmstadt, Germany, November 29, 2021 - The Management Board of AKASOL AG ("AKASOL"; ISIN DE000A2JNWZ9) today adjusted its guidance for fiscal year 2021 based on preliminary results for the first ten months of 2021 and on the call-off forecasts most recently submitted by AKASOL's customers.
Based on preliminary results, AKASOL achieved revenue growth of 64.1% to EUR 78.1 million in the first ten months of 2021 (10M 2020: EUR 47.6 million). Adjusted for expenses in connection with the acquisition by BorgWarner and one-off effects, Group EBIT for the first ten months of 2021 was EUR -12.7 million (10M 2020: EUR -8.4 million).
Despite significantly reduced call-off expectations of a major customer for the remainder of the year 2021, as of today AKASOL's Management Board continues to expect revenue growth of up to 50% for the full year 2021.
Due to the reduced call-offs and the insufficient availability of especially electronic components, EBIT from operations for fiscal year 2021 is expected to be below the EBIT of EUR -12.1 million achieved in 2020, because the necessary organisational precautions as well as the production capacity for a higher sales volume in the remaining year 2021 have already been established.
The original forecast for 2021 was that if the expected sales growth was achieved, EBIT would also be significantly improved compared to 2020 - not considering expenses in connection with the acquisition by BorgWarner.
< End of ad hoc announcement >
T.: +49 (0) 611 205855 - 61
Statements contained herein could be deemed to constitute what are referred to as "forward-looking statements." Forward-looking statements are identifiable by the use of words such as "could," "will," "should," "plans," "expects," "anticipates," "estimates," "believes," "intends," "envisages," "aims" or the negative form of these terms, or corresponding modifications and comparable terms.
Based on current expectations, forward-looking statements involve a number of known and unknown risks, uncertainties and other factors as a consequence of which actual results, degrees of capacity utilization, developments and successes achieved by the AKASOL, or on the part of the branch of industry in which AKASOL operates, might turn out to be materially different from the results contained or implied herein. The faith placed in forward-looking statements should not be unreasonably high. AKASOL will not update or review any forward-looking statements published herein in light of new information, future events or for any other reason.
29-Nov-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de