- Further write-downs against the restructuring portfolio in the amount of EUR 3.5 million
- Consolidated result of EUR -2.8 million in line with previous guidance
Grünwald, 25 April 2017, 17:22 CET/CEST – DF Deutsche Forfait AG (ISIN share: DE000A2AA204, ISIN bond: DE000A1R1CC4) today took write-downs in the amount of EUR 8.4 million against the restructuring portfolio defined in the insolvency plan dated 29 April 2016. Taken as part of today’s adoption of the financial statements for the short financial year from 2 July 2016 to 31 December 2016, these write-downs include both the EUR 4.9 million write-down announced in January 2017 and another EUR 3.5 million in write-downs against two blocks of receivables included in the restructuring portfolio. While the write-downs will not impact DF Deutsche Forfait AG’s consolidated result directly as they will exclusively impact the value of the restructuring portfolio set aside to pay off the insolvency creditors, the company has established a provision of EUR 0.8 million through profit/loss to account for the now elevated likelihood of having to make compensation payments to the insolvency creditors.
Coming in at EUR -2.8 million, DF Deutsche Forfait AG’s consolidated result for the short financial year is within the previously published guidance range of between EUR -2.0 and EUR -3.0 million. The full Annual Report will be published on 28 April 2017.