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DGAP-Adhoc: TOM TAILOR Holding SE signs Term Sheet for loan agreement until end of September 2022 - therefore adjustment required for preliminary results 2018

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DGAP-Ad-hoc: TOM TAILOR Holding SE / Key word(s): Financing
TOM TAILOR Holding SE signs Term Sheet for loan agreement until end of
September 2022 - therefore adjustment required for preliminary results 2018

09-Oct-2019 / 11:50 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

*TOM TAILOR Holding SE signs Term Sheet for loan agreement until end of
September 2022 - therefore adjustment required for preliminary results 2018*

*Hamburg, 09 October 2019*. TOM TAILOR Holding SE (ISIN: DE000A0STST2) today
came to an agreement with the consortium banks and majority shareholder
Fosun on a new financing structure and the associated contributions to be
made by the respective parties, and they signed a corresponding Term Sheet.
The parties aim to finalise the contract documentation by the end of October
2019 at the latest. The new agreement, which will run until the end of
September 2022 and has a total volume of EUR365 million secures the
long-term financing of the TOM TAILOR Group and allows for more flexibility
with regard to future growth.

Due to the planning timeframe through to 2022, as laid out in the Term Sheet
and based on the Independent Business Review (IBR) carried out for this time
period by BCG, the Management Board is adjusting the preliminary results for
fiscal 2018 that were published on 13 May 2019. The adjustment is mainly due
to the increase in provisions for contingent losses as a result of a more
conservative assessment of the future business performance. In addition, the
accounting standard IFRS 5 (discontinued operations) will no longer be
applied. The reason for this is that the Management Board has adjusted its
estimate with regard to the timing of a potential sale of BONITA.

Accordingly, based on the provisional, unaudited results for the TOM TAILOR
brand, the Management Board expects a turnover of EUR618.1 million (13 May
2019: EUR616.9 million), an EBITDA of EUR64.0 million (13 May 2019: EUR70.6
million) and an EBITDA margin of 10.4% (13 May 2019: 11.4%).

Turnover at the BONITA division remains at EUR225.7 million. EBITDA,
however, has decreased to EUR-38.2 million (13 May 2019: EUR-24.6 million)
according to the provisional, unaudited results.

As a result of the adjustment, gross profit for TOM TAILOR will increase
marginally to EUR349.7 million (13 May 2019: EUR349.4 million) and for
BONITA it will remain at EUR140.1 million.

Once the financing agreement has been finalised, the company also plans to
complete and publish the financial statements and consolidated financial
statement for 2018.

*Investor contact*
Viona Brandt
Head of Investor Relations
Telephone: +49 (0) 40 58956-449
E-mail: viona.brandt@tom-tailor.com

*Media contact*
Harriet Weiler
Head of Corporate Communications
Telephone: +49 (0) 40 58956-168
E-mail: harriet.weiler@tom-tailor.com [1]

09-Oct-2019 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: TOM TAILOR Holding SE
Garstedter Weg 14
22453 Hamburg
Phone: +49 (0) 40 589 56 0
Fax: +49 (0) 40 589 56 199
E-mail: info@tom-tailor.com
Internet: www.tom-tailor-group.com
Listed: Regulated Market in Frankfurt (Prime Standard), Hamburg;
Regulated Unofficial Market in Berlin, Dusseldorf, Hanover,
Munich, Stuttgart, Tradegate Exchange
EQS News ID: 887655

End of Announcement DGAP News Service

887655 09-Oct-2019 CET/CEST

1: mailto:%20harriet.weiler@tom-tailor.com

(END) Dow Jones Newswires

October 09, 2019 05:50 ET ( 09:50 GMT)

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