Stock exchange announcement pursuant to article 17 Market Abuse Regulation

Vienna, 14.11.2017

Frauenthal Powertrain GmbH (formerly Mahle Motorkomponenten GmbH) recognises impairment losses of EUR 21.5m as a result of impairment tests 

At the end of March 2017, the Frauenthal Group fully acquired Germany-based Frauenthal Powertrain GmbH (formerly Mahle Motorkomponenten GmbH) from Mahle GmbH. Frauenthal Powertrain GmbH develops and produces connecting rods and camshafts for the passenger-vehicle and commercial-vehicle industries, and has plants in Plettenberg (North Rhine-Westphalia) and Rosswein (Saxony).

As part of the comprehensive realignment of the business over the coming years, auditors BDO Austria GmbH carried out impairment tests and an audit of the carrying amounts recognised by Frauenthal Powertrain GmbH in accordance with IFRS. The tests revealed the need to recognise impairments totalling EUR 21.5m on Frauenthal Powertrain’s goodwill and other non-current assets.

As a result of these impairment losses, the Frauenthal Group’s profit for 2017 will be significantly lower than in 2016, and the Group is likely to report a loss.

 

Contact:

Frauenthal Holding AG
Dr. Martin Sailer
m.sailer@frauenthal.at

Mag. Erika Hochrieser
e.hochrieser@frauenthal.at

Rooseveltplatz 10
1090 Wien
Tel. +43 (0)1 505 42 06 

www.frauenthal.at

ISINs: AT0000762406 

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0.074724912643433