Ad-hoc: EASY SOFTWARE AG corrects its profit and loss forecast for 2016
Mülheim an der Ruhr (Germany), February 14, 2017 – Based on temporary figures as of December 31, 2016 and deviating from its forecast published in its annual report of 2015, EASY SOFTWARE AG (ISIN: DE 0005634000) expects a lower income for FY 2016.
A major reason for this deviation is postponing projects, both domestic and foreign, to 2017. Additionally, the company did not succeed in providing sufficient resources in the SAP environment to serve all queries and contracts. Also, the UK’s BREXIT vote and the Turkish political situation have had negative impact on income. Cloud business also fell short of expectations.
According to the annual forecast for 2016 in its annual report of 2015, the company had previously assumed, at group level, an operating income before interest, tax and depreciation (EBITDA) amounting to about €2.8 million. Based on the temporary figures as of December 31, 2016, the Management Board now assumes that a deviation in operating EBITDA of -35% to -40% is to be expected for the year 2016.
EASY SOFTWARE AG
The Management Board