Leifheit Aktiengesellschaft: Supervisory Board recalls CEO Thomas Radke as Chairman of the Board with immediate effect

Nassau, 15. October 2018: The Supervisory Board of Leifheit AG (ISIN DE0006464506) has recalled Mr. Thomas Radke, CEO of Leifheit AG, as Chairman and Member of the Board and released him from his duties with immediate effect. The originally appointment of Mr. Radke ran until end of 2019. The Supervisory Board will decide about the appointment of a successor as chairman of the Management Board likely before the end of this year.

The recall of Mr. Radke will lead to provisions for personnel costs in the current financial year that will affect earnings. This effect will be intensified by revenue below expectation and other extraordinary items, which impact the EBIT. Therefore the Leifheit Group now forecasts earnings before interests and taxes (EBIT) of 13 mEUR to 14 mEUR for financial year 2018. So far, an EBIT of approximately 16 mEUR to 17 mEUR was expected. Leifheit expects the revenue for 2018 at the level of 2017 (revenue 2017: 236,8 mEUR).
The third quarter is also mainly impacted by provision for personnel costs. Leifheit expects a third quarter EBIT between 1,8 mEUR and 1,9 mEUR.

Leifheit Aktiengesellschaft, Leifheitstraße 1, 56377 Nassau
ISIN DE0006464506