February 28, 2019 / 7:03 AM / 3 months ago

BRIEF-Intershop Holding FY Net income Up At CHF 119.6 Mln, Plans Share Buyback

Feb 28 (Reuters) - Intershop Holding:

* FY NET INCOME REACHED CHF 119.6 MILLION, OR CHF 59.84 PER SHARE, AND STANDS AT ALMOST 90% ABOVE RESULT FOR THE PREVIOUS YEAR

* IS PROPOSING TO THE ANNUAL GENERAL MEETING A DIVIDEND PAYMENT OF CHF 22.00 PER SHARE

* IS OPTIMISTIC FOR THE CURRENT FINANCIAL YEAR, ALTHOUGH IT DOES NOT EXPECT GAINS FROM PROPERTY DISPOSALS AT THE LEVEL OF THE REPORTING YEAR AND NO PROMOTIONAL PROJECT WILL BE COMPLETED

* FALL IN RENTAL INCOME IN THE ORDER OF 10% IS EXPECTED IN 2019

* CONTINUES TO ASSUME THAT IT WILL ACHIEVE A RETURN ON EQUITY EQUIVALENT TO THE AVERAGE YEARLY RATE OF AT LEAST 8% FOR 2019

* PLANS SHARE BUYBACK

* DECIDED TO UNDERTAKE A SHARE BUYBACK OF UP TO 5% OF THE OUTSTANDING SHARES BY WAY OF A FIXED PRICE OFFER OF CHF 515 PER SHARE

* BOARD RECOMMENDS TO THE ANNUAL GENERAL MEETING THAT THE REPURCHASED SHARES BE SUBSEQUENTLY CANCELLED

* FOLLOWING THE REDUCTION OF THE SHARE CAPITAL BY UP TO 5%, THE ANNUAL DIVIDEND AMOUNT WILL BE REDUCED BY UP TO CHF 2.2 MILLION

* TERMS AND CONDITIONS OF BUYBACK ARE EXPECTED TO BE PUBLISHED ON 5TH MARCH 2019

Source text - bit.ly/2NwYq76

Further company coverage: (Gdynia Newsroom)

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