Brief: Arbonia Suspends Guidance Due To Unpredictability Of H2 Volumes

Arbonia AG

20/07/2023 06:04

July 20 (Reuters) - ARBONIA AG  ARBNO.S :
    * SUSPENSION OF GUIDANCE DUE TO UNPREDICTABILITY OF VOLUMES
IN
SECOND HALF OF 2023
    * OLUME DECREASES IN FIRST HALF OF 2023, IN CONJUNCTION WITH
NEGATIVE CURRENCY EFFECTS (-3.6%), LED TO AN OVERALL DECREASE IN
REVENUE OF -10% COMPARED TO SAME PERIOD LAST YEAR TO
    * H1 OVERALL DECREASE IN REVENUE OF -10% COMPARED TO SAME
PERIOD
LAST YEAR TO APPROXIMATELY CHF 570 MILLION (HVAC: CHF 303
MILLION; DOORS: CHF 266 MILLION)
    * H1 HVAC DIVISION ON EBITDA LEVEL ABOVE PREVIOUS YEAR WITH
INCREASED MARGIN FROM 8.0% TO 9.4%
    * ARBONIA AG - SIGNIFICANT POSITIVE FREE CASH FLOW EXPECTED
FOR
2023
    * CLOSURE OF PRODUCTION PLANT AND STAFF REDUCTIONS OF UP TO
600
EMPLOYEES UNTIL JUNE 2024 WILL LEAD TO A ONE-TIME CHARGE OF UP
TO CHF 15 MILLION IN 2023 FINANCIAL YEAR AND CONSEQUENTLY TO
ANNUAL NET SAVINGS OF CHF 10 - 12 MILLION
    * CONFIRMATION OF MID-TERM TARGETS FOR 2026 DUE TO GREAT
DEMAND
FOR HOUSING AS WELL AS ENERGY UPGRADING OF EXISTING HOUSING TO
REDUCE REQUIRED CO2 EMISSIONS

Source text for Eikon:  ID:nEQ7plzkpa 
Further company coverage:  ARBNO.S 

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