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Publication of insider information

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

Ad-Hoc

Unterföhring, 29 January 2024

Potential loss of receivables from the client The KaDeWe Group GmbH and postponement of the publication of the financial statements for the financial year 2022/2023

KPS AG announces that its wholly owned subsidiary KPS Transformation GmbH was informed today by its client The KaDeWe Group GmbH (KaDeWe) about the filing of an application for the opening of insolvency proceedings in self-administration with the Charlottenburg Local Court on 26 January 2024 and the court's decision on 29 January 2024 to order provisional self-administration and appoint a provisional administrator until a decision is made on the aforementioned insolvency application.

A project agreement between KaDeWe and KPS for the introduction of an ERP system is the background to this information from KaDeWe. The KPS Group's obligations under the contract have largely been fulfilled and the majority of the project remuneration has already been paid by the customer. However, there are still outstanding payments from KaDeWe in the mid-single-digit million euro range. The timing and amount of the recoverability of these payments are currently uncertain.

Due to the aforementioned circumstances, the publication of the annual and consolidated financial statements together with the combined report of KPS AG for the financial year 2022/2023, which was planned for 30 January 2024, has been postponed. The Executive Board of KPS AG is currently unable to make a sufficiently reliable statement as to what impact the insolvency of KaDeWe will have on the business figures of KPS AG for the past financial year 2022/2023 and, in particular, on the forecast for the current financial year 2023/2024. Excluding the insolvency of KaDeWe and a potential loss of these receivables, the Group's unaudited revenues for the past financial year would have been € 177.8 million and unaudited EBITDA € 11.3 million. The capital market forecast published on 26 April 2023 and confirmed on 8 May 2023 would thus have been met.

KPS AG will announce the new date for the publication of the financial statements for the 2022/2023 financial year, including the forecast report for the current financial year, in due time by means of a corresponding announcement.

 

Leonardo Musso

Sole member of the Executive Board

 

Unterföhring, 29 January 2024

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