Business Wirecard: News from KPMG - patience is further strained

Wirecard: News from KPMG – patience is further strained

Image and copyright: Michael Barck / www.4investors.de.

Apr 22, 2020 9:08 pm – Author: Johannes Stoffels Johannes Stoffels on Twitter | 4investors on: Twitter | Google News | Facebook

Wirecard investors need to be even more patient. Actually, a special KPMG report on FT’s allegations should be published today. But nothing comes of it. The previously postponed report will no longer come today, as Wirecard reports ad-hoc in the evening. KPMG has informed Wirecard that time will be needed until next Monday. Further databases should be processed and taken into account. So investors can mark April 27 as the next date for the report.

The research has been running in four areas since October 2019: third-party partner business (TPA) and merchant cash advance (MCA) / digital lending as well as India and Singapore. According to KPMG’s findings to date, there have been no substantial findings that have led to corrections in past annual financial statements.

Wirecard plans to present the 2019 annual financial statements as planned on April 30. The DAX Group’s balance sheet press conference will then also take place.

Wirecard shares rose 3.2 percent to EUR 126.46 today.

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Wirecard: Hardly any room for improvement

Wirecard plans to present its annual report on April 30. Basic data on this are already known. Before that there is the highly anticipated report from KPMG. It deals with various allegations against the DAX group, which it vehemently contests. This report is supposed to be published today on Wirecard’s transparency page. Until late afternoon, investors are still waiting in vain for the special report. From the perspective of UBS analysts, this report may contain some interesting details, but the annual financial statements are more important from their point of view.

But the KPMG report is likely to play a role there as well. The Wirecard pipeline will then also be in focus, depending on how growth will develop. There could be new information about the liabilities, the enlargement of the supervisory board should also be discussed. The pending license application in Singapore can continue reading this news from April 22, 2020!

At a glance – chart and news: Wirecard

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