EQS-News

Publication of the 2022/2023 consolidated financial statements and the results for the first quarter of 2023/2024

EQS-News: KPS AG / Key word(s): Annual Report/Quarter Results Publication of the 2022/2023 consolidated financial statements and the results for the first quarter of 2023/2024 07.03.2024 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. Publication of the 2022/2023 consolidated financial statements and the results for the first quarter of 2023/2024

• Group revenue in the 2022/2023 financial year at € 177.8 million (previous year: € 180.0 million). Restraint, particularly with regard to new projects in the areas of e-commerce and strategy, and three major projects reaching the maturity phase
• Adjusted EBITDA excluding one-off effects of € 13.2 million for the 2022/2023 financial year (restructuring expenses and impairment due to the KaDeWe insolvency in the amount of € 5.4 million)
• Unadjusted EBITDA of € 7.8 million for the 2022/2023 financial year burdened by impairments, restructuring expenses, weak demand and overcapacities
• Revenues in the first quarter of 2023/2024 at € 38.9 million; adjusted EBITDA without the negative one-off effect of the KaDeWe insolvency at € 0.9 million
• Outlook 2023/2024: KPS expects adjusted EBITDA of € 14.8 million to € 16.3 million (unadjusted for further impairments due to customer insolvencies € 11.5 million to € 13.0 million)

Unterföhring/Munich, March 7, 2024 - KPS AG (WKN: A1A6V4 / ISIN: DE000A1A6V48), Europe's leading consultancy for digital transformation and process optimisation in retail, has published its results for the 2022/2023 financial year and the results for the first quarter of 2023/2024.

Financial year 2022/2023: KaDeWe insolvency leads to delay in publication

On January 29, 2024, KPS announced via ad hoc announcement that it was postponing the publication of its annual and consolidated financial statements for the past 2022/2023 financial year, which had been scheduled for January 30, 2024. The background to this was that on January 26, 2024, The KaDeWe Group GmbH (KaDeWe) filed an application with the Charlottenburg Local Court for the opening of insolvency proceedings under self-administration and that on January 29, 2024, the court decided to order provisional self-administration and appoint a provisional administrator pending a decision on the aforementioned insolvency application. At the time of the court's decision, KaDeWe still had outstanding payments to KPS in the mid-single-digit million range. The effects of the insolvency can now be quantified and allocated to the financial years 2022/2023 and 2023/2024. The past 2022/2023 financial year was subsequently impacted by the insolvency in the amount of € 3.5 million. A value adjustment was made accordingly.