DGAP-Ad-hoc: elumeo SE / Key word(s): Strategic Company Decision
elumeo SE: elumeo SE to close its site in Rome
22-Nov-2019 / 21:13 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.
On 22 November 2019, the Executive Board of elumeo SE decided to close the site in Rome and to serve the Italian market from its base in Berlin in the future, as it serves its other European markets. Unfortunately, no agreement could be reached on the required cost reduction as a result of the already announced reduction in broadcasting times from 15 to 5 hours per day. The Executive Board of elumeo SE therefore had no alternative but to decide to immediately close the site.
In its current reporting structure, elumeo SE does not expect any significant effects on the consolidated result for 2019. At the same time, the possible effects of a reclassification of the site to discontinued operations on Group reporting in accordance with IFRS 5 are being reviewed. The exact effects will be determined when the 2019 annual financial statements are prepared.
About the company:
The elumeo Group, headquartered in Berlin, is the leading European company in the electronic distribution of high-quality gemstone jewelry, mainly produced in India and Thailand. elumeo's goal is to make high-quality gemstone jewelry an affordable luxury for everyone.
Through a variety of electronic distribution channels (such as TV, the Internet, Smart TV and Smartphone App), the listed company offers its customers primarily colour gemstone jewelry at comparatively low prices. The company sells its jewelry predominantly through direct sales. For example, the elumeo Group operates a home shopping television station in Germany as well as web shops in Germany, Italy, the UK, Italy, France, the Netherlands, Spain, Belgium and the United States.
Contact:
elumeo SE
Bernd Fischer, Managing Director (CFO)
Erkelenzdamm 59/61, 10999 Berlin
Phone: +49 30 69 59 79-231
Fax: +49 30 69 59 79-650
e-mail: bernd.fischer@elumeo.com http://www.elumeo.com
Contact:
Bernd Fischer, managing director (CFO).
22-Nov-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language:
English
Company:
elumeo SE
Erkelenzdamm 59/61, Portal 3b
10999 Berlin
Germany
Phone:
+49 30 69 59 79-0
Fax:
+49 30 69 59 79-20
E-mail:
info@elumeo.com
Internet:
www.elumeo.com
ISIN:
DE000A11Q059
WKN:
A11Q05
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart
Elumeo SE is a Germany-based is a manufacturer and electronic retailer of gemstone jewelry. The Company markets products through its online shop and through live television under the Juwelo, Rocks and Co. and AMAYANI brands. Its core markets are Germany, Italy, France, the Netherlands, Belgium, Spain and the United Kingdom.
ELUMEO SE 
