EANS-Adhoc: Wolford AG started further restructuring measures
-------------------------------------------------------------------------------- Disclosed inside information pursuant to article 17 Market Abuse Regulation (MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is responsible for the content of this announcement. -------------------------------------------------------------------------------- No Keyword 26.02.2019 Bregenz - In view of the continuing negative revenue developments in the financial year 2018/19 (May 2018 to February 2019: -9 %), the management board initiated comprehensive restructuring measures with sustainable cost saving potential to bring the company's cost structure in line with the revenues. The expected savings potential significantly exceeds ten million euros. In addition, sales activities will be strengthened, in particular in Asia. Wolford is in negotiations with the financing banks to ensure the funds available to service the liquidity needs. Wolford plans to return to profitability (positive operating result) in the financial year 2020/21. Further inquiry note: Wolford AG Maresa Hoffmann Referentin Investor Relations & Corporate Communications Tel.: +43 5574 690 1258 / +43 676 82 73 12 93 investor@wolford.com | company.wolford.com end of announcement euro adhoc -------------------------------------------------------------------------------- issuer: Wolford Aktiengesellschaft Wolfordstrasse 1 A-6900 Bregenz phone: +43(0) 5574 690-1258 FAX: +43(0) 5574 690-1410 mail: investor@wolford.com WWW: http://company.wolford.com ISIN: AT0000834007 indexes: ATX GP stockmarkets: Wien, Frankfurt, New York language: English
Original content of: Wolford Aktiengesellschaft, transmitted by news aktuell