PR Newswire/euro adhoc/ EANS-Adhoc: GfK SE takes provision of approximately EUR 21 million related to irregularities in its Turkish business; 2012 adjusted operating income unchanged and in line with expectations ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. annual result 29.01.2013 Nuremberg, 29 January 2013 - GfK Group is taking a one-off provision of approximately EUR 21 million related to irregularities and potential historic tax and social security obligations arising from the company's Turkish subsidiary, GfK Arastirma Hizmetleri A.S. The provision will be booked in the financial year 2012. The adjusted operating income will not be affected and is in line with expectations. Consolidated total income will be impacted. GfK has discovered incidents of suspected tax evasion in its Turkish subsidiary. Initial findings indicate that former local management in Turkey collaborated to defraud GfK through tax and social security avoidance schemes over several years. GfK has voluntarily self-reported this matter to the authorities in Turkey for the period in question. The total expected costs are approximately EUR 21 million. GfK will be working with local authorities in Turkey regarding the issue and will explore potential criminal and civil charges against the former Turkish management team and other responsible persons. Further inquiry note: Herr Bernhard Wolf Tel.: +49(0) 911 395 2012 E-Mail: firstname.lastname@example.org issuer: GfK SE Nordwestring 101 D-90419 Nürnberg phone: +49 (0)911 395 2012 FAX: +49 (0)911 395 4075 mail: email@example.com WWW: http://www.gfk.de sector: Consultancy Services ISIN: DE0005875306 indexes: SDAX stockmarkets: free trade: Hannover, Berlin, Hamburg, Düsseldorf, regulated dealing/prime standard: Frankfurt language: English The content and accuracy of news releases published on this site and/or distributed by PR Newswire or its partners are the sole responsibility of the originating company or organisation. Whilst every effort is made to ensure the accuracy of our services, such releases are not actively monitored or reviewed by PR Newswire or its partners and under no circumstances shall PR Newswire or its partners be liable for any loss or damage resulting from the use of such information. All information should be checked prior to publication. -0- Jan/29/2013 18:56 GMT
EANS-Adhoc: GfK SE takes provision of approximately EUR 21 million related to irregularities in its Turkish business; 2012
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