DGAP-News: asknet AG

DGAP-News: asknet AG: 2016 Group result affected by extraordinary tax effect

asknet AG / Key word(s): Change in Forecast

24.06.2016 10:01

Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer / publisher is solely responsible for the content of this announcement.

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asknet AG: 2016 Group result affected by extraordinary tax effect

- Value added tax possibly not correctly paid in Norway

- Circumstances not fully clarified yet

- Potential retrospective tax payment may result in negative result for the year of up to -2.5 million euros

Karlsruhe, June 24, 2016 -- In the context of an upcoming tax audit by the Norwegian tax authorities, the Executive Board of asknet AG, a supplier of global e-commerce solutions, has learnt that asknet might have had to charge value added tax on software sales to Norwegian customers and paid such tax in the customer's country of domicile. This is due to an amendment of the Norwegian tax law dating back to 2011, which may not have been fully considered in the company's compliance system at the time. The matter is being reviewed internally and externally and has not been fully clarified, yet. In order to establish the facts, asknet cooperates fully with the Norwegian authorities and has commissioned an auditing firm to examine the matter and represent the company vis-à-vis the local tax authorities. Should the company have to make a retrospective tax payment which is recognised in profit/loss, the Executive Board of asknet AG expects this extraordinary effect to result in negative consolidated earnings before taxes (EBT) of between -1.7 million and no more than -2.5 million euros in fiscal 2016. The company had originally projected slightly higher, positive EBT for 2016 (2015: 0.1 million euros). asknet has instructed its lawyers to examine if claims for damages may be asserted against third parties.

Press contact

asknet AG Madeleine Clark +49 (0)721 96458-6116 investorrelations@asknet.com

24.06.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap.de

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