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in accordance with Article 17 of Regulation (EU) No 596/2014

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Adjustment of the forecast for the financial year 2022/2023 due to weaker demand in individual key markets

The Executive Board of KPS AG revises its forecast published on 6 January 2023. For the current financial year 2022/2023, the Executive Board of KPS AG currently expects consolidated revenues to be slightly below the previous year's level (FY 2021/2022: EUR 179.5 million) and consolidated EBITDA to be in a range between EUR 11 million and EUR 14 million.

The Executive Board issued its original forecast in anticipation of higher demand and built up the corresponding personnel capacities in the KPS Group in the past. The current business climate in the retail sector, KPS's core segment, however, led to a general reluctance to take on new projects - especially in the digital sector. This resulted in a decline in sales in individual high-priced markets and business areas as well as a lack of staff utilisation and idle capacity costs. Furthermore, increased wage inflation has impacted the Group's profitability. KPS has already initiated measures to adjust staffing levels in the affected business units to reflect the changing market environment.

KPS AG will publish the key financial figures for the first half of 2022/2023 with the full half-year report on 8 May 2023.

 

Leonardo Musso

Sole member of Management Board

 

Unterföhring, 26 April 2023

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