Ascom investor says group should consider sale - Finanz und Wirtschaft (updated)

Ascom Holding AG

06/03/2019 07:46

(Adds Ascom comment, details)
    ZURICH, March 6 (Reuters) - Ascom's  ASCN.S  biggest
shareholder, Veraison, is demanding the Swiss communications
equipment company consider all options including a sale on
grounds it is not fulfilling its potential in the health care
sector, newspaper Finanz und Wirtschaft reported.
    Veraison has "no confidence in the current operative
leadership", said Veraison co-founder Gregor Greber, the
newspaper reported. 
    Veraison holds nearly 8 percent of shares in Ascom, whose
stock price has fallen nearly 50 percent since January 2018 as
it has missed its own sales and profitability goals. 
    Ascom reports full-year 2018 results on Thursday. A
spokesman said that the company's leadership would address
Greber's criticism at a news conference then in Zurich. 
    Its shares were little changed in pre-market activity.
    Ascom in January released preliminary 2018 figures, saying
it expects revenues to have grown 1.7 percent at constant
currency exchange rates to 318.5 million Swiss francs ($317
million) while its operating margin decreased to 12 percent from
14.1 percent in 2017 after a sluggish start to the year. 
    Both are below the targets Ascom Chief Executive Holger
Cordes set last March, when he called for 3-6 percent revenue
growth and earnings before interest, taxes, depreciation and
amortisation up to around 15 percent of sales.  urn:newsml:reuters.com:*:nL8N1QJ0OJ
    The Swiss company has said the healthcare sector, where it
sells communications equipment for hospitals and medical
professionals, is growing at above-average rates, while it has
seen slowing momentum amid delays in its enterprise sector where
products include software and gear for communication systems for
corporations, utilities, governments and other customers. 
   ($1 = 1.0047 Swiss francs)

 (Reporting by John Miller; Editing by Michael Shields)
 ((J.Miller@thomsonreuters.com; +41 58 306 7734; Reuters
Messaging: j.miller.thomsonreuters.com@reuters.net))