elumeo SE, DE000A11Q059

elumeo SE, DE000A11Q059

09.11.2018 - 14:54:13

elumeo SE: elumeo SE to outsource its production

Ad hoc announcement pursuant to Art. 17 (1) MAR

elumeo SE: elumeo SE to outsource its production

Berlin, 9 November 2018

International Securities Identification Number: DE000A11Q059 Security Identification Code: A11Q05 Ticker Symbol: ELB LEI: 391200KOQF8RGMZ3XK74 Stock Exchange: Regulated Market in Frankfurt (Prime Standard)

After elumeo SE has already drastically reduced the capacity of its group-owned factory in order to reduce idle running costs and achieve a better fixed cost degression, the company has now decided to outsource its remaining production to two smaller sites that will be operated in close cooperation with local partners. This is intended to further reduce fixed costs and increase production flexibility. Production will be continued at the new sites and terminated at the former site. In addition, the management of the former production company will be requested to commence a solvent liquidation of the company, utilising the existing assets.

Due to the outsourcing of the production, elumeo SE expects a substantial improvement in sales and earnings in the sales division Germany & Italy for the fourth quarter of 2018. With a view to the targeted solvent liquidation of the former production company, no forecast for the segment group functions & eliminations and, therefore, the total group is possible for the year 2018. All outstanding forecasts for the fourth quarter and the total year 2018 are hereby revoked. Further details and an outlook for the year 2019 will be published in the quarterly financial release to be published on 14 November 2018.

About elumeo SE:

The elumeo Group, which has its headquarters in Berlin, is the leading European online retailer of high-quality gemstone jewelry produced in Thailand and India. The publicly traded company elumeo offers its customers colored gemstone jewelry at comparatively low prices via a number of electronic distribution channels (including television, the Internet, smart TV and a smartphone app). Its distribution model relies exclusively on direct sales made via the elumeo Group's home-shopping TV channels in Germany and Italy, and via online stores in Germany, the UK, Italy, France, the Netherlands, Spain, Belgium and the USA. Lower cost items are marketed to customers worldwide via the "New York Gemstones" online stores.

Competent person for this publication:

elumeo SE Managing Director (Finance) Bernd Fischer

Contact:

elumeo SE Investor Relations Claudia Erning Erkelenzdamm 59/61, 10999 Berlin Tel.: +49 30 69 59 79-231 Fax: +49 30 69 59 79-650 E-Mail: ir@elumeo.comhttp://www.elumeo.com

 

Contact: Bernd Fischer, managing director (CFO).

09-Nov-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English Company: elumeo SE Erkelenzdamm 59/61, Portal 3b 10999 Berlin

Germany Phone: +49 30 69 59 79-0 Fax: +49 30 69 59 79-20 E-mail: info@elumeo.com Internet: www.elumeo.com ISIN: DE000A11Q059 WKN: A11Q05 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart   End of Announcement DGAP News Service

743873  09-Nov-2018 CET/CEST

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