Corporate | 3 September 2014 15:13
|
PUMA SE / Key word(s): Miscellaneous
PUMA SE Herzogenaurach
– Security Identification Number (WKN) 696 960 –
Publication according to §37q Para 2 Sentence 1 WpHG Herzogenaurach, Germany, 3 September – The German Accounting Enforcement Panel (DPR) has discovered, that the consolidated financial statements for the year ending on 31.12.2012 of PUMA SE, Herzogenaurach, are inaccurate: 1. In the consolidated financial statements of PUMA SE as of 31. December 2012 the pre-tax profit is understated by at least EUR10 Mio. and the provision for restructuring overstated by the respective amount. The planned inventory transfer, the expected double lease-cost in the course of a relocation into new office spaces which was in negotiation status, the consulting related to the re-engineering of the logistics, as well as expenditures for future marketing efforts out of three sailing sponsoring contracts are expenses for the future economic activity at the balance sheet date and are not regarded as contingent losses, and hence are not recognizable as liabilities. This violates IAS 37.80 as well as IAS 37.66. 2. The consolidated financial statements disclose a goodwill of EUR289,4m, of which EUR139,4m refer to one single cash generating unit. The notes neither include details of the book value nor of the value defining parameters of the impairment test of the corresponding cash generating unit.
Moreover, these details cannot be derived for any cash generating unit as the stated scope of the tax rates, WACC and growth rates is too large for the regional aggregated cash generating units.
Herzogenaurach, 3 September 2014 PUMA SE The Managing Directors
03.09.2014 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
| Language: | English | |
| Company: | PUMA SE | |
| PUMA Way 1 | ||
| 91074 Herzogenaurach | ||
| Germany | ||
| Phone: | +49 9132 81 0 | |
| Fax: | +49 9132 81 2246 | |
| E-mail: | investor-relations@puma.com | |
| Internet: | www.puma.com | |
| ISIN: | DE0006969603 | |
| WKN: | 696960 | |
| Indices: | SDAX | |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard), München; Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, Stuttgart; Terminbörse EUREX | |
| End of News | DGAP News-Service |
|
|
| 285425 03.09.2014 |