TECHNOPOLIS PLC STOCK EXCHANGE RELEASE October 12, 2018 at 4:35 p.m. EEST
Technopolis Lowers Estimate on Full-Year 2018 Profitability Due to Incurred Costs Related to Public Tender Offer
Kildare Nordic Acquisitions S.à r.l announced today that it will complete the public tender offer for all the issued and outstanding shares in Technopolis Plc. As a result, Technopolis will incur costs in relation to the tender offer in the form of, among others, advisory fees. A substantial part of the advisory fees are conditional upon completion of the tender offer. The costs and fees related to the tender offer are estimated to be approximately EUR 5.9 million euros, in total. Due to these costs, Technopolis lowers its estimate on the full-year 2018 profitability. The earlier guidance on Group net sales remains intact.
The updated near-term outlook and guidance are as follows:
Technopolis estimates that the Group net sales in 2018 will be at the same level as it was in 2017. The company expects the Group EBITDA to be below the 2017 EBITDA.
The estimates take into account the divestiture of operations in Jyväskylä, Finland in late 2017, as well as the costs related to the voluntary public tender offer by Kildare Nordic Acquisitions S.à r.l. The negative effects of the Jyväskylä divestitures on Group Net sales and EBITDA, on an annual level, are approximately EUR 14.5 million and EUR 7.2 million, respectively. The costs and fees related to the tender offer are estimated to be approximately EUR 5.9 million euros, in total.
Technopolis’ earlier near-term outlook and guidance were as follows:
Technopolis estimates that the Group net sales in 2018 will be at the same level as it was in 2017. The company expects the Group EBITDA to remain at the same level as in 2017, or slightly below.
The estimates take into account the divestiture of operations in Jyväskylä, Finland in late 2017. The negative effects of the Jyväskylä divestitures on Group Net sales and EBITDA, on an annual level, are approximately EUR 14.5 million and EUR 7.2 million, respectively.
Furthermore, the estimate takes into account the company’s view on the planned completion of organic growth projects in progress, as well as its view on economic developments in each Technopolis market, and the development of the company’s occupancy and rental rates.
Technopolis Plc
Sami Laine
CFO
Tel. +358 40 502 7083
Technopolis is a shared workspace expert. We provide efficient and flexible offices, coworking spaces and everything that goes with them. Our services run from designing the workspace to reception, meeting solutions, restaurants and cleaning. We are obsessed with customer satisfaction and value creation. Our 17 campuses host 1,600 companies with 50,000 employees in six countries within the Nordic and Baltic Sea region. Technopolis Plc (TPS1V) is listed on Nasdaq Helsinki. www.technopolis.fi/en