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    QUARTERLY FINANCIAL STATEMENT, MAY 08, 2024

    ANNUAL GENERAL MEETING, APRIL 24, 2024

    ANALYST AND INVESTOR CONFERENCE, MARCH 14, 2024

    QUARTERLY FINANCIAL STATEMENT, MAY 08, 2024 ANNUAL GENERAL MEETING, APRIL 24, 2024 ANALYST AND INVESTOR CONFERENCE, MARCH 14, 2024

    Vitesco Technologies Group AG: Recognition of provisions in the context of possible compensation obligations towards Continental AG in connection with the diesel investigations

    Vitesco Technologies Group AG / Key word(s): Miscellaneous/Annual Results
    Vitesco Technologies Group AG: Recognition of provisions in the context of possible compensation obligations towards Continental AG in connection with the diesel investigations

    20-Dec-2021 / 16:03 CET/CEST
    Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
    The issuer is solely responsible for the content of this announcement.


    Vitesco Technologies Group AG: Recognition of provisions in the context of possible compensation obligations towards Continental AG in connection with the diesel investigations

    Regensburg, December 20, 2021. Vitesco Technologies Group AG will recognize a provision in the fourth quarter in the amount of 80 million euros in connection with possible compensation obligations from the group separation agreement with Continental AG. This will have a corresponding negative impact on the consolidated results of Vitesco Technologies.

    Pursuant to the agreements between Vitesco Technologies and Continental AG in the course of the spin-off, Vitesco Technologies is obliged to indemnify companies of the Continental group against expenses and liabilities attributable to the businesses transferred to Vitesco Technologies. This may include, among other things, potential fines and other costs, in particular legal fees. So far, no claims have been asserted by Continental AG in this regard. The timing and actual amount of any required compensation payments therefore remain undetermined.

    Based on its assessment of the current status of the investigations conducted by the public prosecutor's offices in Hanover and Frankfurt am Main against Continental AG in connection with the alleged use of illegal defeat devices in diesel engines and an assessment of the costs incurred so far in this regard, the Executive Board of Vitesco Technologies Group AG expects it to be increasingly probable that Continental AG will assert claims against the company under the existing indemnification agreement.


    20-Dec-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
    Archive at www.dgap.de



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