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loewe ag (LOE) Details

Loewe AG develops, produces, and distributes electronic, electrotechnical, and mechanical products and systems, and related parts in the field of consumer electronics and communication technology. It primarily offers television sets, home cinema solutions, blu-ray players, DVD players/recorders, audiodesign products, audio components, multiroom solutions, and other products in the home entertainment market. The company sells its products in Germany, rest of the Europe, and internationally. Loewe AG was founded in 1923 and is headquartered in Kronach, Germany.

682 Employees
Last Reported Date: 08/1/13
Founded in 1923

loewe ag (LOE) Top Compensated Officers

Chief Financial Officer, CRO and Member of Ex...
Total Annual Compensation: €31.4K
Chief Technology Officer and Member of Execut...
Total Annual Compensation: €537.7K
Chief Marketing & Sales Officer
Total Annual Compensation: --
Compensation as of Fiscal Year 2012.

loewe ag (LOE) Key Developments

Loewe AG Provides Earnings Guidance for the Full Year of 2014

Loewe AG provided earnings guidance for the full year of 2014. For the year, the company expects to swing back to profit in 2014, only a year after the ailing company filed for insolvency. In five years the company should raise its revenue to about EUR 400 million from below EUR 100 million expected in 2014.

Loewe Seeks Investor

Loewe AG (DB:LOEK) filed for insolvency and needs to find an investor before the end of 2013 to avert closure, Matthias Harsch, Chief Executive Officer of Loewe, said. Loewe expects to reach an agreement with an investor by the end of October 2013. "We have six bids from investors from which we will choose in the next four weeks," Harsch said.

Loewe AG to Layoff Approximately 150 Employees

Loewe AG has almost completed its program of restructuring measures as part of the ongoing protective proceedings. Consequently, the Executive Board has decided that approximately 150 employees from across the company will be made redundant with effect from October 1, 2013.

 

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