December 13, 2018 / 7:48 AM / 4 months ago

BRIEF-Tom Tailor Holding To Write Down EUR 120 Mln-130 Mln For Bonita

Dec 13 (Reuters) - TOM TAILOR HOLDING:

* SAID ON WEDNESDAY EVALUATION OF SHAREHOLDING’S INTRINSIC VALUE AND BRAND VALUE OF BONITA LEADS TO WRITE-DOWN OF EUR 120-130 MLN AGAINST VALUE OF BONITA BRAND EFFECTIVE DEC, 31 2018

* DUE TO COUNTERVAILING EFFECTS OF RELEASE OF DEFERRED TAXES EFFECT ON FY RESULTS AFTER TAXES WILL BE LOWER AND AMOUNT TO EUR 84-90 MLN

* SAYS BONITA IS TO BE RESTRUCTURED, STABILISED AND PREPARED FOR ALL VALUE-ADDING OPTIONS, THIS MAY ALSO ENTAIL SALE OF BONITA

* GROUP’S ANNUAL SALES TARGETS REMAIN UNCHANGED

* NOW EXPECTS TO GENERATE AN EBITDA MARGIN OF 6-6.5 PCT FOR FY 2018

* TARGETS FOR MEDIUM TERM UNTIL 2021 REMAIN UNCHANGED

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Further company coverage: (Gdynia Newsroom)

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