Ad-hoc news

asknet Solutions AG recognizes additional restructuring costs and adjusts 2020 guidance

Insider Information pursuant to Article 17 of the Market Abuse Regulation (MAR)

March 24, 2021, Karlsruhe (Germany) – In the course of the ongoing preparation of the 2020 annual financial statements of asknet Solutions AG (ticker symbol: ASKN, ISIN: DE000A2E3707, WKN: A2E370), it has emerged that additional extraordinary restructuring costs, are expected to result in a loss before interest and income tax (EBIT) for the full year in the range of EUR 1.0 to 1.3 million. Previously, the company had assumed to achieve a slightly positive EBIT in the financial year 2020. At the same time, due to the improved operational performance in the second half of 2020, the company was able to achieve an increase in gross profit by 20% to EUR 11.0 million on a full-year basis according to preliminary figures (H1 2020: EUR 4.0 million). Originally, the company had projected a decline in gross profit. According to preliminary figures, this improvement was offset by high one-time and extraordinary costs for the restructuring of the company in the total amount of nearly EUR 1 million, including consulting and legal expenses for the realization of the demerger from Nexway Group AG (incl. its subsidiary Nexway SAS) and other restructuring charges. Sales revenues declined by 3% to EUR 81.9 million, according to preliminary figures, following the strategic decision to streamline the customer base in the eCommerce Solutions business unit to focus on higher margin customers.

The publication of the audited asknet Solutions AG annual report is scheduled for May 2021.

Magda Gajny