DGAP-Adhoc: euromicron AG: Correction to the comparative

euromicron AG / Key word(s): Quarter Results/Interim Report 24.06.2015 16:51 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- 1. As previously published, euromicron AG has corrected the valuation errors made in previous fiscal years by making an adjustment to equity with no effect on profit and loss in its 2014 consolidated financial statements. As a consequence of this, adjustments must also be made to the comparative figures for 2014 that were published in the quarterly financial statements and in the half-year consolidated financial statements for 2015 (the "interim financial statements"). The audited and published consolidated financial statements for 2014 are not affected by this because these are only corrections to the comparative figures for 2014 that are fully offset for the year 2014 as a whole. Due to the adjustments made in the respective interim financial reports for 2015, the effects of corrections previously presented in their entirety in the results for the fourth quarter of 2014 are now presented for the appropriate period in the results of the respective quarter of 2014. This does not result in any changes in the results for the full year 2014. 2. Furthermore, the company has corrected its comparative figures for the previous year 2014 in its 2015 interim financial statements due to flat-rate accruals that were formed. These accruals do not correspond with the basic principles of determining results for specific periods and are therefore considered to be errors in the sense of IAS 8 just like the corrections made in clause 1. The correction of these errors also results in changes to the comparative figures contained in the income statement for 2014 in the interim financial statements for fiscal year 2015. These corrections do not have any effect on the annual results for 2014 or on the company's equity because they pertain to year-to-date accruals that are fully offset for the year as a whole. The correction of the errors described in clauses 1. and 2. results in the following adjustments to the comparative figures for 2014 in the interim financial statements for 2015 for the important key figures Sales and EBITDA: Overview of effects of corrections in Q1-Q4 2014 <pre> Sales Adjustment 2014 IAS 8 IAS 8 Sales after before correction project correction corrections corrections valuation quarterly accrual cumulat- kEUR kEUR kEUR kEUR ive per 31/ 80,073 269 -4,628 75,714 03/14 per 30/ 162,194 668 -3,980 158,882 06/14 per 30/ 246,590 778 -3,900 243,468 09/14 per 31/ 346,338 0 0 346,338 12/14 EBITDA Adjustment 2014 IAS 8 IAS 8 EBITDA before correction project correction after corrections valuation quarterly corrections accrual cumulat- kEUR kEUR kEUR kEUR ive per 31/ 4,880 304 -2,510 2,674 03/14 per 30/ 10,503 756 -5,547 5,712 06/14 per 30/ 15,203 908 -6,350 9,761 09/14 per 31/ 21,149 0 0 21,149 12/14 </pre> By correcting the errors described above, the new Executive Board has now completed restating the financial statements for previous years. Appropriate measures have been taken to ensure that these types of errors do not occur again in the future. The main operational figures for the first quarter of 2015 are as follows: Group sales amounted to approx. EUR 74.6 million compared to the corrected value of EUR 75.6 million for the first quarter of 2014. Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to approx. 0.8 million as of March 31, 2015, after a corrected value of EUR 2.7 million in the respective previous year's period. This decline can mainly be attributed to one-off effects from severance payments and higher structure costs, reduced capitalized own work and a slight increase in the materials usage ratio compared to the same quarter of the previous year. Due to the positive signals that are coming from the market, the Executive Board expects to see the business develop in a stable manner for the year 2015 as a whole and confirms its forecast for the current fiscal year. For fiscal year 2015, the Executive Board expects sales of between EUR 340 million and EUR 360 million, similar to the figure reported in 2014. The operating EBITDA margin is expected to remain at a stable level of between 6% and 8% and between 5% and 7%, taking reorganization measures into consideration. The company will most likely generate a large share of its earnings in the fourth quarter due to its project and customer structure. The company will publish the complete report on the first quarter of 2015 on June 30, 2015. euromicron AG (www.euromicron.de) is an all-round solution provider for communications, transport, data and security. euromicron's network infrastructures integrate voice, video and data transport wirelessly, via copper cable and by means of fiber-optic technologies. euromicron builds leading applications, such as security, control, healthcare or surveillance systems, on the basis of these cutting-edge network infrastructures. Founded on its expertise as a developer and producer of fiber-optic components, euromicron AG is a strongly growing, highly profitable group that is listed on the stock market, has a medium-sized character and focuses on operational growth, integration and further market penetration, internationalization and expansion. euromicron AG Investor & Public Relations Zum Laurenburger Hof 76 60594 Frankfurt/Main, Germany Phone: +49 69 631583-0 Fax: +49 69 631583-17 e-mail: IR-PR@euromicron.de Securities identification number A1K030 www.euromicron.de ISIN DE000A1K0300 24.06.2015 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: euromicron AG Zum Laurenburger Hof 76 60594 Frankfurt am Main Germany Phone: +49(0) 69 631583-0 Fax: +49(0) 69 631583-17 E-mail: info@euromicron.de Internet: www.euromicron.de ISIN: DE000A1K0300 WKN: A1K030 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------