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vwd Vereinigte Wirtschaftsdienste Aktiengesellschaft: vwd lowers earnings forecast due to anticipated restructuring costs
vwd Vereinigte Wirtschaftsdienste Aktiengesellschaft / Key word(s): Profit Warning 18.11.2013 14:33 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Ad hoc announcement pursuant to § 15 of the German Securities Trading Act: vwd lowers earnings forecast due to anticipated restructuring costs Frankfurt am Main, November 18, 2013 - vwd Vereinigte Wirtschaftsdienste Aktiengesellschaft, one of the leading providers of financial information in Europe, plans to cut about 50 positions in coming months throughout the entire vwd group. These cuts will affect approximately 10 percent of the vwd group's workforce. The bulk of the severance costs are expected to be incurred in 2013. As a result, vwd AG has lowered the group's EBITDA guidance for fiscal year 2013: In consideration of the projected restructuring expenditures, the vwd group is expected to generate EBITDA totaling between EUR 4.5 million and EUR 5.5 million. Jobs will be cut at virtually all of the group's business locations inside and outside Germany. The cuts will primarily affect administrative positions and some minor business activities. The strategic direction of the vwd group remains unchanged. This step will improve the group's profitability beginning in 2014. Above all, it will clear the way for strategic earnings-improving measures to be taken. vwd Vereinigte Wirtschaftsdienste Aktiengesellschaft The Management Board 18.11.2013 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: vwd Vereinigte Wirtschaftsdienste Aktiengesellschaft Tilsiter Straße 1 60487 Frankfurt am Main Germany Phone: +49 (0)69 50701-316 Fax: +49 (0)69 50701-114 E-mail: cscharf@vwd.com Internet: http://www.vwd.com ISIN: DE0005204705 WKN: 520470 Listed: Regulierter Markt in Frankfurt (General Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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