Start your free 7-Day Trial. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law. We anticipate changes in foreign exchange rates will have a negative impact of approximately €260-300 million for the full year 3; Gross Margin: 23-25%
• The contingency reserve has been raised by R6 billion in 2019/20 to reflect the risk of additional fiscal support for smaller state-owned companies.

We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and include this statement for purposes of complying with the safe harbor provisions.

Our fiscal year runs from July to June. This represents a very small increase of 0.9% versus 2018, when the company's sales were 156.25 billion Euro. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections, including but not limited to the following known material factors: our ability to attract prospective customers and to retain existing customers; our dependence upon third-party licenses for sound recordings and musical compositions; our ability to comply with the many complex license agreements to which we are a party; our ability to generate sufficient revenue to be profitable or to generate positive cash flow on a sustained basis; our lack of control over the providers of our content and their effect on our access to music and other content; our ability to accurately estimate the amounts payable under our license agreements; the limitations on our operating flexibility due to the minimum guarantees required under certain of our license agreements; our ability to obtain accurate and comprehensive information about music compositions in order to obtain necessary licenses or perform obligations under our existing license agreements; potential breaches of our security systems; risk associated with unauthorized access of our software and services and manipulation of stream counts and customer accounts; assertions by third parties of infringement or other violations by us of their intellectual property rights; risk associated with our substantial indebtedness; risks related to our status as a foreign private issuer; dilution resulting from additional share issuances; and the concentration of voting power among our founders who have and will continue to have substantial control over our business; tax-related risks; unanticipated changes relating to competitive factors in our industry; ability to hire and retain key personnel; changes in legislation or governmental regulations affecting us; international, national or local economic, social or political conditions; conditions in the credit markets; risks associated with accounting estimates, currency fluctuations and foreign exchange controls; and such other risks as set forth in our filings with the United States Securities and Exchange Commission.This financial outlook assumes, among other things, that no additional business acquisitions, investments, restructurings, or legal settlements are concluded.To receive notifications via email, enter your email address and select at least one subscription below.
The government has gained $100 billion more in revenue this year but increased spending by $280 billion.It has received about $25 billion more in customs duties this fiscal year than last as a result of the Trump administration’s tariffs on China and other countries, pulling in a total of $57 billion in such revenue. Most of that total, however — $52 billion — has been pledged to farmers who have seen their businesses hurt by the tariffs.2019’s federal budget deficit has already exceeded 2018’s with two months to go until the end the fiscal year ends.It has also pulled in $5 billion more in corporate income-tax revenue in fiscal year 2019 to date, bringing that number up to $171 billion.Get breaking news, with NR's unfiltered reporting, delivered straight to your inbox

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