Profit warning: EAB Group Plc changes its guidance for 2019

EAB Group Plc, Inside Information, Stock Exchange Release, 13 August 2019, 3:00 p.m. (EET)

Profit warning: EAB Group Plc changes its guidance for 2019

EAB Group Plc’s (EAB, Company) net result for January-June 2019 will be negative as the turnover will remain nearly unchanged. At the same time the Company estimates the net result for 2019 to be negative and the turnover 2019 to slightly decline.

EAB’s net result for the period January-June turned negative due to the decreased ongoing fees and around EUR 0.9 million nonrecurring costs. The nonrecurring items relate to the transfer to the Nasdaq Helsinki main market, the re-arrangements of the personnel as well as to the write-off of a client receivable.

Updated guidance for 2019

Based on the first half of the year, the Company estimates the net result for 2019 to be negative regardless that the profitability is estimated to increase during the second half of 2019. Also, the total turnover 2019 is expected to be slightly lower than in 2018 as the performance fees are estimated to remain lower than in the previous year.

Previous guidance for 2019 published on 28 February 2019

On the basis of the current level of sales and expenses, if market uncertainty continues, we expect a positive result in 2019 and some sales growth from the level of 2018.

The estimate is based on current business operations, and it does not take potential business acquisitions into account.

EAB will publish its half-yearly report for 1 January - 30 June 2019 on 28 August 2019.

EAB GROUP PLC

Board of Directors

Further information:

EAB Group Plc

Daniel Pasternack, CEO

+358 50 569 3416

daniel.pasternack@eabgroup.fi

Roman Cherkasov, CFO

+358 40 847 59 59

roman.cherkasov@eabgroup.fi

EAB Group offers versatile and high-quality saving, investment and asset management services for private investors, institutions and professional investors. The Group's parent company EAB Group Plc’s share is listed on the Nasdaq Helsinki stock exchange. EAB Group uses the name Elite Alfred Berg as its marketing name. The Group companies include EAB Asset Management Ltd offering asset management activities, and EAB Fund Management Ltd acting as a fund company and authorised alternative investment fund manager. The Groups’ customer base consists of individuals and corporations that are served nationwide in 14 different locations. The Group employs more than 100 investment professionals, and over 25 tied agents provide its services. On behalf of its clients, the Group manages assets of over EUR 3 billion in total. Check out EAB Group’s services at www.eabgroup.fi.

DISTRIBUTION:

Nasdaq Helsinki Oy

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