Portigon AG: Increased provisions weigh on result for first half of 2018

In view of the ongoing investigations by the Public Prosecutor's Office in connection with dividend arbitrage transactions undertaken by the former WestLB, Portigon AG will, as a precautionary measure, set aside additional provisions in its financial statements for the first half of 2018 for taxes on dividend payments that potentially have been taken into account in previous years without justification, as well as interest payments thereon.

For this reason, the Managing Board has amended its forecast regarding the expected result for the 2018 fiscal year. The Managing Board is now proceeding on the assumption that Portigon AG will show a loss for the 2018 fiscal year in the low hundreds of millions euro range.

Contact:
Dr. Carsten Hellinger
Head of Board Secretary
Portigon AG
Voelklinger Str. 4
40219 Duesseldorf
Dr.Carsten.Hellinger@portigon-ag.de
Tel. +49 (0) 211 826 71455