DGAP-Ad-hoc: Steinhoff International Holdings N.V. / Key word(s):
Miscellaneous
Steinhoff International Holdings N.V.:
30-Apr-2019 / 17:07 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
*DISCLOSURE OF INSIDE INFORMATION PURSUANT TO ART. 17 OF THE EU MARKET ABUSE
REGULATION (EU 596/2014, MAR)*
*Steinhoff - Impairment of Goodwill and Intangible Assets *
Steinhoff International Holdings N.V. (the "*Company*" or "*Steinhoff*") and
with its subsidiaries, the "*Group*")
As announced on 5 April 2019, Steinhoff is currently in the process of
preparing the audited Group financial statements for 2017 and 2018, which
are expected to be released on 7 May 2019 and 18 June 2019 respectively. As
part of the audit process, Steinhoff has undertaken a review of the carrying
value of the Group's goodwill and intangible assets. In the announcement of
the Group's interim results for the period to 31 March 2018, which was made
on 29 June 2018, the value of goodwill and intangible assets as at 30
September 2017 was disclosed as being approximately EUR9 billion. Pursuant
to further review by Steinhoff, it has today been determined that the
Group's goodwill and intangible assets as at 30 September 2017 are to be
further impaired by approximately EUR1.8 billion to approximately EUR7.2
billion. This conclusion will feature in the 2017 Group financial
statements, the audit of which is currently in progress, and primarily
follows a reassessment of the value of the goodwill and intangible assets of
Mattress Firm Inc as at 30 September 2017 which included consideration of
the pre-Chapter 11 trading performance.
Shareholders and other investors in the Company are advised to exercise
caution when dealing in the securities of the Group.
Stellenbosch, 30 April 2019
30-Apr-2019 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: Steinhoff International Holdings N.V.
Herengracht 466
1017 CA Amsterdam
Netherlands
Phone: +27218080700
Fax: +27218080800
E-mail: investors@steinhoffinternational.com
Internet: www.steinhoffinternational.com
ISIN: NL0011375019
WKN: A14XB9
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
EQS News ID: 805785
End of Announcement DGAP News Service
805785 30-Apr-2019 CET/CEST
(END) Dow Jones Newswires
April 30, 2019 11:07 ET (15:07 GMT)
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