EQS Group AG: EBITDA guidance lowered for the financial year 2023 due to one-off transaction costs
February 08, 2024 at 12:02 pm EST
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EQS-Ad-hoc: EQS Group AG / Key word(s): Change in Forecast
EQS Group AG: EBITDA guidance lowered for the financial year 2023 due to one-off transaction costs
08-Feb-2024 / 18:00 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
EQS Group AG – Publication of inside information according to Article 17 of the Regulation (EU) No 596/2014
EBITDA guidance lowered for the financial year 2023 due to one-off transaction costs
Munich, February 8, 2024. On December 4, 2023, Pineapple German Bidco GmbH launched a takeover offer (the “Takeover Offer”) to the shareholders of EQS Group AG (the “Company”) for the acquisition of their no-par value registered shares (auf den Namen lautende Stückaktien) in the Company (“EQS Shares”) for a cash consideration of EUR 40.00 per EQS Share. On February 2, 2024, the Takeover Offer has been settled.
As a consequence of the consummation of the Takeover Offer, the Company will incur one-off transaction costs in a single-digit million Euro amount, which will impact the Company’s earnings for the financial year 2023. As a result, the Management Board lowers its earnings guidance and is currently expecting an EBITDA for the full financial year 2023 in the range of EUR 1.5m and EUR 2.5m, after previously expecting a range of EUR 9m to EUR 11m.
Person making the notification: André Marques, Executive Board member (CFO)
Contact:
André Marques
CFO
Tel.: +49 89-444430-033
Email.: andre.marques@eqs.com
End of Inside Information
08-Feb-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com
EQS Group AG, formerly known as EquityStory AG, is a Germany-based provider of regulatory technology (RegTech) in the fields of corporate compliance and investor relations. The Companyâs activities are divided into two operating segments: Compliance and Investor Relations. The Compliance segment comprises all products required for companies to fulfill their legal and regulatory obligations, including reporting obligations in the news segment (disclosure), submissions to the Federal Gazette (filing), and new products, such as Insider Manager, Integrity Line, LEI, and ARIVA Workflows. The and Investor Relations segment encompasses products for the areas of financial and corporate communications, including news, websites portals, webcasts and media. In addition, its products are pooled in the cloud-based software EQS COCKPIT. The Companyâs clients are small and medium-sized enterprises (SME), as well as corporate customers. It provides services worldwide.