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Portigon AG, DE0008364902

Portigon AG, DE0008364902

02.12.2019 - 17:37:47

Portigon AG: Expected year end results for 2019 impacted by higher provisions

 

Due to the ongoing investigations by the public prosecutor in connection with dividend arbitrage transactions of the former WestLB as a precaution, Portigon AG will be required to build an additional provision for taxes on dividend payments for which a tax credit had been applied for in previous years potentially without justification, as well as interest payments in connection therewith.

Therefore, the Managing Board of Portigon AG has revised its forecast for the annual results of fiscal year 2019. The Management Board is now expecting the annual accounts for 2019 resulting in a loss in the range of approximate 500 Mio ? - 600 Mio ?.

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

02-Dec-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: 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 EQS News ID: 925925   End of Announcement DGAP News Service

925925  02-Dec-2019 CET/CEST

@ dgap.de