Wolford AG concluded an agreement on May 26, 2014 to sell a non-operating real estate in Bregenz, Austria, to an internationally active company based in Vorarlberg, Austria. Thus the intensive negotiations on the sale of the property carried out over a period of several weeks were successively completed.
The net proceeds from the sale amount to approx. 6.7 million, leading to a book profit of ca. 3.4 million in the first quarter of the fiscal year 2014/15. The disposal of non-operating assets is a key component of our strategic refocusing which we will be able to finance from our own resources, among others the proceeds from this real estate sale, explains Thomas Melzer, Chief Financial Officer of Wolford AG.
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