EQS-Ad-hoc: Vitesco Technologies Group AG / Key word(s): Change in Forecast Regensburg, September 26, 2024 – Today, Vitesco Technologies Group AG, headquartered in Regensburg, and Continental AG, headquartered in Hanover, have reached a settlement on the Group separation agreement between the two Groups.
The agreement provides that outstanding claims related to the Group separation agreement between Continental AG and Vitesco Technologies Group AG in connection with investigations into the manipulation of exhaust values by the public prosecutors in Frankfurt and Hanover, which have been discontinued in the meantime, will be settled. Based on the agreement, Vitesco Technologies Group AG will pay an amount of 125 million euros to Continental AG. Since the related cash outflow will be due in the remainder of the third quarter of fiscal year 2024, Vitesco Technologies Group AG adjusts its free cash flow guidance for fiscal year 2024: Free cash flow (excluding integration costs associated with the Schaeffler AG merger) for the full year is now forecast to be at around -525 million euros (previously: approximately -400 million euros; FY 2023: 85 million euros). Following the agreement, all other financial key performance indicators of Vitesco Technologies Group AG’s fiscal year 2024 guidance remain unchanged. Important information: Various known and unknown risks, uncertainties and other factors could cause Vitesco Technologies' actual results, its financial position, growth or performance to differ materially from the figures presented herein. Explanations and reconciliations of key financial figures used can be found in the glossary of financial terms of the annual report 2023 of Vitesco Technologies Group AG (available at https://ir.vitesco-technologies.com/websites/vitesco/English/4000/reports-_-presentations.html). Contact: Heiko Eber, Head of Investor Relations Tel.: +49 941 2031 72348 E-Mail: heiko.eber@vitesco.com End of Inside Information
26-Sep-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | Vitesco Technologies Group AG |
Siemensstraße 12 | |
93055 Regensburg | |
Germany | |
Phone: | +49 941 2031 0 |
E-mail: | ir@vitesco.com |
Internet: | www.vitesco-technologies.com |
ISIN: | DE000VTSC017 |
WKN: | VTSC01 |
Indices: | SDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1996529 |
End of Announcement | EQS News Service |
|
1996529 26-Sep-2024 CET/CEST
The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.
The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.
If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.
For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.
1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.