Wirecard CEO Markus Braun said in the context of the balance sheet press conference to the speculation that was around the company. Brown admits some errors, but it also says that there was “no criminal Offence”. Meanwhile, there are media reports new allegations against Wirecard. the By Harald Freiberger and Nils Wischmeyer Harald Freiberger
Born in 1962 in Dingolfing, Germany, studied journalism in Munich. 13 years at the evening newspaper in Munich, most recently as head of economic. Since 2008, the SZ, first as a sheet maker for money, from 2009 to 2015 as a correspondent for banks in Frankfurt. Since then, again in Munich. Topics. send an email
Markus Braun is ahead of time. Already ten minutes before the start of the annual press conference of the Wirecard CEO on Thursday about the reddish carpet at the NH-Hotel falls, directly opposite the Headquarters in Aschheim. He reviewed briefly the Podium, looks at his cell phone. Nothing should go wrong. As for brown, today is about more than just Numbers.
It is the trust in his company, which was hard in the criticism – and it goes for brown to millions of euros. After all, he holds seven percent of Wirecard. Before so the Numbers are on the topic, speaks to brown about what interests all the accusations of balance sheet manipulation, fraud and even money laundering. Or, as brown puts it: “I want to talk about the elephant in the room.”
As he starts, he introduces himself to the edge of the small stage, and wobbles from one leg to another and says that he needs to “get used to the media attention.” At the last balance sheet press conference for six reporters were there, now there are about 60, about ten photographers whose trigger constantly chattering.
The increased attention has to do with problems of the company in Asia. 30. January had been reported to the Financial Times for the first time about possible abuses on the part of Wirecard. Sales were double booked and contracts dated incorrectly. The stock fell by up to 40 percent. Wirecard dismissed the accusations as “false and defamatory”. Several articles and new allegations from other media, followed. The financial Supervisory authority, Bafin imposed a ban on two months of a short sale: investors were no longer allowed on a case rate of Wirecard for the markets share. Had not given it in this Form.
“We have quality defects, in particular in the accounting quality”
More than eight weeks after the first article in the FT Markus Braun for the first time purified. “We have quality defects, in particular in the accounting quality.” The defects have been made in the area of software licenses that make up only a small part of the overall business. Contracts are part of been wrong or at the wrong time posted. In the past few years, it had grown very strong, have invested in a lot of markets, but come with the processes always running out of time. Then brown asked if he had made a mistake. The wheeze only once into the microphone, then he says: “We have made in the last six to eight weeks of errors, this is a fact.” He says the handling of the affair.
It is the first admission of guilt by Markus Braun. So far, Wirecard dismissed the reports always called it wrong and even went legally. The insight of brown has, of course, limits. “But there was no criminal Offence,” he says. Also “a deliberate Act” had not been established. General problems he does not want to derive from the transactions.
“There was no material impact”
brown emphasized that all Investigations of internal and external auditors had nothing to encouraged to days, which burden the balance sheet. “There was no material impact,” he says. Also, Rajah & Tann, the firm that had engaged WIrecard, to the allegations to inform, have not found anything Significant. In addition, brown announced a task force to improve all the processes, especially between the Headquarters and the subsidiaries abroad.
So much for the elephant in the room. Then brown finally came to the subject with which it deals better: The Numbers for 2018 were good, the sales rose by 35 percent to two billion euros, net profit grew by 37 per cent to 560 million euros.
the “chaos days” in Wirecard past? All is well in Aschheim? Not quite, still a special unit established in Singapore for various crimes against Wirecard-employees and verbandelte companies. The investigators have more than collected 200 boxes of Material that you need to work through. This will take time.
the group has submitted the final report of the Rajah & Tann only a summary – he makes himself more vulnerable. Is not planned for a full release in the future. “We must not,” claims brown, and justified it with the Rights of third parties that would be affected. From the report, let people close. You cling to this, however, was the report understandable.
The day before, had published in the Financial Times in addition, a new critical article. The charge to The profit in the case of Wirecard came to a large part of three to “opaque” firms, which are sitting in Dubai, Singapore and the Philippines, and not of an auditor. Brown objected to these allegations: “All of our companies are audited,” he said. You could read all the statements on the website. And that 80 or 90 percent of the profit came from only three partners – “that’s not true”.
Then the leaves brown quickly, the room in Rome/Paris in the NH Hotel, takes the Headset from your ear, waiting for the next appointment: The Wirecard-in-chief has to tell his story of the elephant in the room for investors.
