VERIANOS adjusts earnings forecast for fiscal year 2020

VERIANOS adjusts earnings forecast for fiscal year 2020

Cologne/Frankfurt am Main, 30 October 2020 – VERIANOS SE has adjusted its forecast for the consolidated net income estimate and now expects a significantly reduced result for the year 2020 compared to 2019 due to delays in some sales activities caused by the ongoing COVID-19 pandemic. Previously, the company had expected a significant improvement in net income for 2020, assuming a rapidly stabilising environment until the end of 2020, as well as scheduled income from investments and management fees from the sale of properties. In the fiscal year 2019, consolidated net income amounted to EUR -0.751 million. Due to the high uncertainty of the development of the pandemic, the ability to make forecasts remains very limited.

In response to the effects of the COVID-19 pandemic, corporate measures were taken to ensure operational capacity to act. In addition, measures were implemented to ensure liquidity, including KFW financing, which is available for drawing since July 2020.

Furthermore, VERIANOS SE published the consolidated interim report for the first half of 2020 today. In the first six months of 2020, consolidated net income was EUR -2.4 million (H1 2019: EUR -1.8 million). Consolidated equity as of June 30, 2020, was EUR 15.4 million (June 30, 2019: EUR 16.4 million), while the equity ratio remained stable at 55.0% (June 30, 2019: 55.1%).

The consolidated interim report for the period from January 1 to June 30, 2020 is available at https://www.verianos.com/en/investor-relations/.

This publication constitutes neither an offer to sell nor an invitation to buy securities.

Contact:
VERIANOS SE
Investor Relations – Tobias Bodamer
T +49 69 69 768 88 100
Mail: ir@verianos.com