EANS-Adhoc: Wolford Aktiengesellschaft / Wolford Revises Guidance for the 2016/17 Financial Year and Planning for the Following Years

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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
12.04.2017

On March 17, 2017, Wolford AG announced that it would revise its
medium-term strategic planning and develop a sustainable financing
structure. The updated medium-term planning focuses on sustainably
improving cost structures with the objective of making the company
profitable again. Against the backdrop of the current difficult
market environment, the latest planning assumptions foresee moderate
revenue growth of the individual sales channels. A time frame of two
years is stipulated to implement measures designed to improve
earnings. The company plans to generate positive operating results
again in the 2018/19 financial year.

Based on the business development during the first nine months, the
forecast for the 2016/17 financial year and the revised medium-term
planning, the management expects to allocate provisions in the
2016/17 financial year in the range of EUR 7 million to EUR 9 million
for impairment losses and restructuring measures in addition to the
operating losses amounting to EUR 8 to EUR 10 million. In order to
ensure a sustainable financing structure, the Management Board of
Wolford AG is currently examining various suitable equity capital
measures with its core shareholders. This is targeting the
sustainable strengthening of the company's liquidity. Wolford will
provide timely additional information relating to adjustments in its
financing structure and its ongoing business development.

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