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Nabaltec AG / Key word(s): Miscellaneous
Nabaltec intends to disclose an extraordinary depreciation on fixed assets at its subsidiary Nashtec, USA
Schwandorf, 27 October 2020 - As part of the preparation of the consolidated financial statements for financial year 2020, Nabaltec AG will presumably disclose an extraordinary depreciation in the amount of EUR 21 - 25 million on the book value fixed assets at Nashtec, USA. The background is the reduction of capacity utilization to below 50% at Nashtec triggered by COVID-19 and the expected slower recovery of sales volumes in the North American market in the years to come.
The exact amount of the extraordinary depreciation will be determined during the preparation of the annual financial statements. In addition to the reduction of fixed assets in the consolidated balance sheet, the measure also reduces the Group's EBIT and consolidated net income for the year. The extraordinary depreciation has no effect on cash flow.
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27-Oct-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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