VTG Aktiengesellschaft Announces Earnings Results for the Nine Months Ended September 30, 2017; Provides Earnings Guidance for the Year 2017
The board has announced for August forecast for 2017, For the current financial year, there is no change in the expectation that Group revenue will be slightly higher than in the previous year (2016: EUR 986.9 million). In the forecast published in August, the Executive Board expected Group EBITDA for the current financial year to be in a corridor between EUR 330 million and EUR 360 million. The top end of the forecast EBITDA spread includes potential proceeds from the acquisition of the Nacco Group in the 2017 financial year. However, since the antitrust authorities are still continuing their examination, the Executive Board now expects that the closing will not take place until the first quarter of 2018. Accordingly, expenses associated with the acquisition of the Nacco Group will be recognized in the result for the 2017 financial year, but no income from the Nacco Group will be realized this year. The Executive Board therefore believes that EBITDA for the year will in fact be at the bottom end of the spread forecast in August. The tax rate is still as expected for the year 2017 on the 30% level, and this is unchanged.