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KAP AG (WKN 620840, ISIN DE0006208408)
KAP AG revised forecast for fiscal year 2019
Fulda, 28 June 2019 – KAP AG is today revising its revenues and earnings forecast for the 2019 financial year in light of current extraordinary developments and a changed view on the economic outlook. The reason for the updated forecast was a fire damage suffered at the Reichenbach site which leads to a negative impact on revenues and earnings in the surface technologies segment. At the same time, against the background of identified irregularities in the valuation of inventories, write-downs in the engineered products segment are necessary. The amount of these write-downs can not yet be precisely determined and requires further investigation. In addition, the current economic outlook leads to a reduced demand from customers. Based on more reliable information on the impacts of individual effects, the Executive Board plans to publish an updated forecast at the beginning of the fourth quarter of 2019.
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About KAP AG
KAP AG is a mid-sized German industrial group with approximately 3,000 employees. We specialise in engineered products, flexible films, it/services, surface technologies and precision components, developing innovative industrial products and technological solutions for international companies from trade and industry. As a result of our dedicated long-term business strategy, we serve a number of attractive niche markets with sustainable growth potential. Our focus is to develop market-leading specialized high-margin industrial product lines within these segments. As a reliable partner in the context of succession planning, we also acquire attractively positioned medium-sized family companies with a view to strengthening our existing segments or developing new ones. Holders of KAP shares benefit from our company's growth trajectory and continuous dividend policy.