Brief: ADVA Optical Q2 Preliminary EBIT Down At EUR 6.4 Mln

Adtran Networks SE

15/07/2022 15:58

July 15 (Reuters) - ADVA OPTICAL NETWORKING SE  ADAG.DE :
    * PRELIMINARY RESULTS FOR THE SECOND QUARTER OF 2022 BELOW
THE
PREVIOUS YEAR AND ANALYST CONSENSUS
    * PRELIMINARY REVENUES WERE EUR 166.3 MILLION, UP BY 11.4%
YEAR-ON-YEAR (Q2 2021: EUR 149.4 MILLION) AND 2.9% BELOW ANALYST
EXPECTATIONS FOR Q2 2022 (ANALYST CONSENSUS Q2 2022: EUR 171.4
MILLION)
    * PRELIMINARY PRO FORMA EBIT WAS EUR 6.4 MILLION, DOWN BY
55.4%
COMPARED TO Q2 2021 (Q2 2021: EUR 14.4 MILLION) AND 38.4% BELOW
ANALYST EXPECTATIONS FOR Q2 2022 (ANALYST CONSENSUS Q2 2022: EUR
10.5 MILLION)
    * PRELIMINARY PRO FORMA EBIT MARGIN WAS 3.9%, DOWN BY 5.8
PERCENTAGE POINTS COMPARED TO YEAR-AGO QUARTER (Q2 2021: 9.7%)
AND 2.2 PERCENTAGE POINTS BELOW ANALYST EXPECTATIONS FOR Q2 2022
(ANALYST CONSENSUS Q2 2022: EUR 6.1%)
    * MANAGEMENT BOARD DECIDED TODAY TO ADJUST OUTLOOK FOR FULL
YEAR
2022
    * IT NOW EXPECTS FY REVENUES OF BETWEEN EUR 680 AND EUR 730
MILLION (PRIOR: BETWEEN EUR 650 AND EUR 700 MILLION
    * SEES FY PRO FORMA EBIT MARGIN OF BETWEEN 5% AND 9% (PRIOR:
BETWEEN 6% AND 10%)

Source text for Eikon:  ID:nEQ7z65F4a 
Further company coverage:  ADAG.DE 

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