ZEAL Network SE (-)
ZEAL Network SE: Upward Adjustment of EBIT Guidance (Profit Estimate)
ZEAL Network SE ('ZEAL') expects for the financial year 2018 that the Result from operating activities (EBIT) will range between EUR 37 million and EUR 39 million (the 'Profit Estimate'), and Total Operating Performance (TOP) between EUR 158 million and EUR 160 million. This is not a statement about facts and should not be interpreted as such by potential investors.
This is an upward adjustment from the previous profit forecast for 2018, released on 19 November 2018, which provided a Result from operating activities (EBIT) estimate range of EUR 33 million to EUR 38 million. It reflects the strong performance of ZEAL's business in the months of November and December 2018 and the absence of remaining prize pay-out risks for the financial year 2018.
The estimate in respect of TOP is included in order to provide additional guidance but does not form part of the Profit Estimate.
The Profit Estimate has been prepared on the basis of the unaudited condensed interim consolidated financial statements of ZEAL as of and for the nine months ended 30 September 2018 and the unaudited management accounts of the ZEAL group as of and for the fiscal year ended 31 December 2018.
The Profit Estimate is based upon information that is currently available. However, the finalisation of the consolidated financial statements of ZEAL as of and for the fiscal year ended 31 December 2018, including the audit, is not expected to be completed until the expected publication of the consolidated financial statements of ZEAL for the fiscal year 2018 on 22 March 2019 and therefore further events may occur or information become available that would impact the audited results for 2018. Therefore, the Profit Estimate is prepared on the basis of assumptions about past events and actions and it naturally entails substantial uncertainties and the Result from operating activities (EBIT) of ZEAL may differ materially from the corresponding estimated Result from operating activities (EBIT).
The preparation and external audit of the consolidated financial statements of ZEAL as of and for the fiscal year ended 31 December 2018 is in progress and is anticipated to continue up until the expected publication of the 2018 annual report and accounts on 22 March 2019. It is possible that adjustments to the Profit Estimate may be required during the finalisation of the financial statements and subsequent to the external audit.
To the extent that this announcement contains forward-looking statements, such statements do not represent facts. Forward-looking statements include all matters that are not historical facts. They are characterised by the words 'expect', 'believe', 'estimate', 'intend', 'aim', 'assume', 'plan' or similar expressions. Such statements express the intentions, opinions or current expectations and assumptions of ZEAL Network SE. Such forward-looking statements are based on current plans, estimates and forecasts which ZEAL Network SE has made to the best of its knowledge, but which do not claim to be correct in the future. Forward-looking statements are subject to risks and uncertainties that are difficult to predict and usually cannot be influenced by ZEAL Network SE or the persons acting in conjunction with it. Actual events or consequences may differ materially from those contained in or expressed by such forward-looking statements.
Frank Hoffmann, CEFA
5th Floor - One New Change
London EC4M 9AF
T +44 (0) 20 3739-7123
F +44 (0) 20 3739-7199
|OAM Categories:||2.2. Inside information|
|EQS News ID:||770975|
|End of Announcement||EQS News Service|