EANS-Adhoc: Wolford Aktiengesellschaft / Wolford Revises Guidance for the Current Financial Year

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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 solely responsible for the content of this announcement.
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Earnings Forecast/Company Information
25.01.2017

The Management Board of Wolford AG revised its guidance for the
current 2016/17 financial year (May 1, 2016 - April 30, 2017). In
spite of a slight recovery in its revenue development starting in
November 2016 and Christmas sales matching the prior-year level,
revenue in January declined again, so that the revenue decrease up
until now equals close to 8% compared to the previous year.

As already reported, the weak market environment in the first
half-year along with negative currency effects, particularly in
relation to the British pound, and an internal problems in sales
planning combined to burden earnings. At the present time, the
management is fully focusing on realizing additional revenue
potential and improving the company's operating results. Wolford will
not be able to compensate for the corresponding revenue decline and
the losses incurred before the financial year ends on April 30, 2017.
Against this backdrop, the management expects negative operating
results ranging between minus EUR 8.0 million and minus EUR 10.0
million for the entire current 2016/17 financial year.

The Wolford Group will restructure its financing in order to ensure
sufficient financial resources to fulfill the company's liquidity
needs. Wolford AG will announce further details on adjustments to the
financing structure and its business development within the context
of publishing its Report on the Third Quarter of 2016/17 (March 17,
2017).

Further inquiry note:
Wolford AG
Maresa Hoffmann
Referentin Investor Relations & Corporate Communications
Tel.: +43 5574 690 1258
investor@wolford.com | company.wolford.com

end of announcement euro adhoc
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issuer: Wolford Aktiengesellschaft
Wolfordstrasse 1
A-6900 Bregenz
phone: +43 (0) 5574 690-1268
FAX: +43 (0) 5574 690-1219
mail: investor@wolford.com
WWW: http://company.wolford.com
sector: Textiles & Clothing
ISIN: AT0000834007
indexes: ATX Prime, ATX GP
stockmarkets: free trade: Frankfurt, regulated dealing: Wien, ADR: New York
language: English

Original-Content von: Wolford Aktiengesellschaft, übermittelt durch news aktuell