Schaeffler recognizes provision for legal risks
Resource from: finanzen 18 Dec,2015
HERZOGENAURACH, December 17, 2015. Today, Schaeffler AG has decided to recognize a provision for legal risks in the amount of EUR230 million. The provision is intended to cover potential claims from third parties in relation to the EU antitrust proceedings that were closed in March 2014.
The company is accounting for the provision as a special item in earnings before interest and taxes (EBIT) in the fourth quarter of 2015. The earnings forecast for the current business year 2015 remains unchanged. The company still expects to achieve an EBIT margin of between 12 and 13 percent before special items for the full year 2015.
Contact: Christoph Beumelburg Senior Vice President Communications, Marketing and Investor Relations Schaeffler AG Tel. +49 9132 82 5000 e-mail: presse@schaeffler.com
Forward-looking statements:
Certain statements in this release are forward-looking statements. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial consequences of the plans and events described herein. No one undertakes any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. You should not place any undue reliance on forward-looking statements which speak only as of the date of this release. Statements contained in this release regarding past trends or events should not be taken as representation that such trends or events will continue in the future. The cautionary statements set out above should be considered in connection with any subsequent written or oral forward-looking statements that Schaeffler, or persons acting on its behalf, may issue.
17.12.2015 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
(finanzen)
