CDAX
29.01.2013 20:25:32
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EANS-Adhoc: GfK SE takes provision of approximately EUR 21 million related to irregularities in its Turkish business; 2012 adjusted operating income uncha...
=------------------------------------------------------------------------------- ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. =-------------------------------------------------------------------------------
annual result 29.01.2013
Nuremberg, 29 January 2013 - GfK Group is taking a one-off provision of approximately EUR 21 million related to irregularities and potential historic tax and social security obligations arising from the company's Turkish subsidiary, GfK Arastirma Hizmetleri A.S. The provision will be booked in the financial year 2012. The adjusted operating income will not be affected and is in line with expectations. Consolidated total income will be impacted. GfK has discovered incidents of suspected tax evasion in its Turkish subsidiary. Initial findings indicate that former local management in Turkey collaborated to defraud GfK through tax and social security avoidance schemes over several years. GfK has voluntarily self-reported this matter to the authorities in Turkey for the period in question. The total expected costs are approximately EUR 21 million. GfK will be working with local authorities in Turkey regarding the issue and will explore potential criminal and civil charges against the former Turkish management team and other responsible persons.
end of announcement euro adhoc =-------------------------------------------------------------------------------
(END) Dow Jones Newswires
January 29, 2013 13:54 ET (18:54 GMT)- - 01 54 PM EST 01-29-13
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