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_wige GROUP reaffirms its prognosis for 2016 after major commission

DGAP-News: _wige MEDIA AG / Key word(s): Half Year Results
_wige GROUP reaffirms its prognosis for 2016 after major commission

30.09.2016 / 10:47
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_wige GROUP reaffirms its prognosis for 2016 after major commission

- Revenue growth to EUR 70 million (2015: EUR 63 million) expected

- EBITDA anticipated to double to EUR 4 million

- Digitalisation and internationalisation predicted to pay off in the
second half of the year

- Lauterbach: "We had hoped for more rapid progress in the first half of
the year!"

Cologne, 30 September 2016. Although _wige GROUP, with revenue in the first
half of the year of around EUR 30 million (- EUR 2.6 million compared to
the previous year) had a EBITDA of - EUR1.1 million (- EUR 2 million
compared to the previous year) and post-tax earnings of - EUR 2.8 million,
did not reach its previous year's figures, it has nevertheless confirmed
its prognosis for the 2016 financial year. On the basis of current
developments and a major commission, the CEO reaffirmed the prognosis for
the ongoing business year. On 28 September, _wige GROUP received a
preliminary contract for the technical equipment of a racing circuit in
Kuwait that carries a volume of EUR 8.5 million. The contract relates to
the first of three construction phases and is expected to be realised for
the most part still within the current business year. As the major
commission was already included in the planning, _wige GROUP still expects
a revenue of at least EUR 70 million (2015: EUR 63 million) and an EBITDA
of at least EUR 4 million (2015: EUR 2 million) as well as an EBT of EUR 1
million (2015: - EUR 1.5 million).

Strong surge in revenue and results in the second half of the year expected
CEO Peter Lauterbach: "We are aware that this prognosis is ambitious. After
all, to achieve this a revenue increase of EUR 40 million and an EBITDA
contribution for the second half of the year of more than EUR 5 million is
necessary. This planning is, however, absolutely valid, as it includes, in
addition to the basic utilisation, parts of revenues and earnings from the
agreed-upon major project. In the second half of the year, we can show the
kind of potential we can leverage as soon as our digitalisation and
internationalisation strategy fully takes effect."

Investments in digitalisation and internationalisation expected to rapidly
pay off
Even though the previous year boasted a large revenue volume in the