Zumtobel Group AG: Approval of cessation of production at ZG Europhane / Update to inside information from 16 October 2024

Dornbirn (pta013/24.01.2025/10:30) - On 16 October 2024, Zumtobel Group AG published an ad hoc announcement pursuant to Art 17 MAR that it has approved the request of the management of ZG Europhane SAS to start the evaluation of a possible cessation of production activities at the plant in Les Andelys. Following the completion of the evaluation and based on the conclusion of the management of ZG Europhane SAS, the Management Board of Zumtobel Group AG approved in today's meeting the decision to implement the cessation of production activities at the plant in Les Andelys. This measure will affect 84 employees in the production area. All necessary personnel measures will be implemented in a socially responsible manner and have been negotiated with employee representatives and agreed with the relevant authorities. Part of this process is also the search for a potential buyer for the factory premises with an interest in relocating the business, which should be completed by the end of February 2025.

Zumtobel Group AG assumes that the cessation of production activities at the Les Andelys plant will result in negative one-off effects totalling of around EUR 10 million, whereby the majority was already recorded as a provision in the second quarter of the financial year 2024/25 and reported in the half-year report 2024/25, which will, however, be amortised over the next few years.

(Ende)