ELUMEO SE (FRA:DE000A11) elumeo SE: elumeo SE to outsource its production

Transparency directive : regulatory news

09/11/2018 14:49




DGAP-Ad-hoc: elumeo SE / Key word(s): Strategic Company Decision/Change in Forecast


elumeo SE: elumeo SE to outsource its production


09-Nov-2018 / 14:49 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.





Ad hoc announcement pursuant to Art. 17 (1) MAR



elumeo SE: elumeo SE to outsource its production



Berlin, 9 November 2018



International Securities Identification Number: DE000A11Q059

Security Identification Code: A11Q05

Ticker Symbol: ELB

LEI: 391200KOQF8RGMZ3XK74

Stock Exchange: Regulated Market in Frankfurt (Prime Standard)



After elumeo SE has already drastically reduced the capacity of its group-owned factory in order to reduce idle running costs and achieve a better fixed cost degression, the company has now decided to outsource its remaining production to two smaller sites that will be operated in close cooperation with local partners. This is intended to further reduce fixed costs and increase production flexibility. Production will be continued at the new sites and terminated at the former site. In addition, the management of the former production company will be requested to commence a solvent liquidation of the company, utilising the existing assets.



Due to the outsourcing of the production, elumeo SE expects a substantial improvement in sales and earnings in the sales division Germany & Italy for the fourth quarter of 2018. With a view to the targeted solvent liquidation of the former production company, no forecast for the segment group functions & eliminations and, therefore, the total group is possible for the year 2018. All outstanding forecasts for the fourth quarter and the total year 2018 are hereby revoked. Further details and an outlook for the year 2019 will be published in the quarterly financial release to be published on 14 November 2018.



About elumeo SE:





The elumeo Group, which has its headquarters in Berlin, is the leading European online retailer of high-quality gemstone jewelry produced in Thailand and India. The publicly traded company elumeo offers its customers colored gemstone jewelry at comparatively low prices via a number of electronic distribution channels (including television, the Internet, smart TV and a smartphone app). Its distribution model relies exclusively on direct sales made via the elumeo Group's home-shopping TV channels in Germany and Italy, and via online stores in Germany, the UK, Italy, France, the Netherlands, Spain, Belgium and the USA. Lower cost items are marketed to customers worldwide via the "New York Gemstones" online stores.



Competent person for this publication:



elumeo SE

Managing Director (Finance)

Bernd Fischer



Contact:



elumeo SE

Investor Relations

Claudia Erning

Erkelenzdamm 59/61, 10999 Berlin

Tel.: +49 30 69 59 79-231

Fax: +49 30 69 59 79-650

E-Mail: ir@elumeo.com
http://www.elumeo.com



 






Contact:

Bernd Fischer, managing director (CFO).








09-Nov-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: elumeo SE

Erkelenzdamm 59/61, Portal 3b

10999 Berlin

Germany
Phone: +49 30 69 59 79-0
Fax: +49 30 69 59 79-20
E-mail: info@elumeo.com
Internet: www.elumeo.com
ISIN: DE000A11Q059
WKN: A11Q05
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart





 
End of Announcement DGAP News Service




743873  09-Nov-2018 CET/CEST







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