February 6, 2018 / 8:00 AM / 5 months ago

BRIEF-Windeln.De: Approval Of Efficiency-Enhancing And Cost Reduction Measures

Feb 6 (Reuters) - Windeln.de SE:

* APPROVAL OF EFFICIENCY-ENHANCING AND COST REDUCTION MEASURES; CAPITAL INCREASE OF UP TO 2.6 MILLION NEW SHARES TO BE PLACED WITH EXISTING AND NEW INVESTORS AND MANAGEMENT

* EXPECTS WORKFORCE REDUCTION TO APPROX. 250 FTE EMPLOYEES (EXCLUDING FEEDO) BY YEAREND 2018

* FURTHER ANTICIPATES RELATED COSTS ABOUT EUR 1.5 MILLION, WHICH WILL BE RECOGNIZED IN FISCAL YEAR 2018

* OVERALL COST REDUCTION FROM INITIATED MEASURES TO AMOUNT TO EUR 10 MILLION COMPARED TO 2017 FINANCIALS

* PRELIM FY FINANCIALS FOR 2017 AMOUNTED TO EUR 211 TO 213 MILLION REVENUES (+8 TO +10% GROWTH YEAR OVER YEAR)

* ‍EFFICIENCY-ENHANCING AND COST REDUCTION MEASURES MANAGEMENT SETS ADJUSTED EBIT BREAK-EVEN TARGET TO EARLY 2019​

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