Portigon AG: Increased provisions weigh on result for first half of 2018
Portigon AG: Increased provisions weigh on result for first half of 2018 In view of the ongoing investigations by the Public Prosecutor's Office in connection with dividend arbitrage transactions undertaken by the former WestLB, Portigon AG will, as a precautionary measure, set aside additional provisions in its financial statements for the first half of 2018 for taxes on dividend payments that potentially have been taken into account in previous years without justification, as well as interest payments thereon.
For this reason, the Managing Board has amended its forecast regarding the expected result for the 2018 fiscal year. The Managing Board is now proceeding on the assumption that Portigon AG will show a loss for the 2018 fiscal year in the low hundreds of millions euro range.Contact: Dr. Carsten Hellinger Head of Board Secretary Portigon AG Voelklinger Str. 4 40219 Duesseldorf Dr.Carsten.Hellinger@portigon-ag.de Tel. +49 (0) 211 826 71455
09-Aug-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: Portigon AG Völklinger Str. 4 40219 Düsseldorf
Germany Phone: +49 (0) 211-826-71455 Fax: +49 (0) 211-826-2010 E-mail: Dr.Carsten.Hellinger@portigon-ag.de Internet: www.portigon-ag.de ISIN: DE0008364902, XS0100256139 WKN: 836490 Listed: Regulated Unofficial Market in Dusseldorf (Primärmarkt); Luxembourg Stock Exchange End of Announcement DGAP News Service
712731 09-Aug-2018 CET/CEST