DGAP-Ad-hoc: Red Rock Capital AG / Key word(s): Half Year Results / Forecast
Red Rock Capital AG published forecast for financial year 2019
11.12.2019 / 22:22 CET/CEST
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Red Rock Capital AG published forecast for financial year 2019
Langenhagen – Hanover, 11 December 2019 – Red Rock Capital AG (ISIN DE000A1RFML1) published a forecast for the financial year 2019 given the preliminary figures for the first half of 2019 that are now available.
After the company generated a clearly positive result in the financial year 2018 with the sale of former shares, in the current financial year 2019 mainly expenses incurred in the course of the establishment of a new business model. Accordingly, a negative result (EBIT) of 300 to 330 TEUR was generated in the first half of 2019. For the current second half of the year, too, the Management Board expects a similar development and therefore anticipates a total negative EBIT of 650 to 750 TEUR for 2019.
As some of the measures planned at the beginning of the year did not develop as expected, Roland Schreiber, who is the Executive Board since October, has begun to adjust the corporate strategy in close coordination with the Supervisory Board. Thus, the shares and real estate acquisitions originally planned for January will not be pursued. Instead, the current shareholding structure will be rearranged and, in a first step, the purchase of existing properties is considered in order to cover current expenses. In a next step, smaller construction projects will be examined for a possible acquisition.
Contact:
Red Rock Capital AG
Roland Schreiber, Board
Rotekreuzstraße 33
30627 Hanover
Germany
Phone: +49 (0)511 5910 8894
Fax: +49 (0)511 6743 1958
Email: info@redrock-capital.ag
Web: www.redrock-capital.ag
