Brief: Bystronic Says Expects To Have Declining Sales With Lower Profitability In 2024

Bystronic AG

29/02/2024 05:41

Feb 29 (Reuters) - Bystronic Ag  BYS.S :
    * : BYSTRONIC IMPROVES PROFITABILITY WITH SLIGHT DECLINE IN
SALES;
PLANS COST OPTIMIZATION PROGRAM
    * COST OPTIMIZATION PROGRAM PLANNED TO IMPROVE PROFITABILITY
    * COMPANY EXPECTS TO HAVE DECLINING SALES WITH LOWER
PROFITABILITY
IN 2024
    * PLANNING A COMPREHENSIVE COST OPTIMIZATION PROGRAM THAT IS
EXPECTED TO RESULT IN CHF 50 MILLION IN SAVINGS IN NEXT TWO
YEARS
    * PROGRAM WILL REDUCE VOLUME RELATED COSTS BY ADJUSTING
PERSONNEL
CAPACITY, ELIMINATING ABOUT 110 POSITIONS
    * EXPECTS TO ELIMINATE ANOTHER 100 POSITIONS AS PART OF
THESE
MEASURES
    * EXPECTS TO ELIMINATE ANOTHER 100 POSITIONS AS PART OF
THESE
MEASURES
    * BYSTRONIC ESTIMATES ONE-TIME COSTS ASSOCIATED WITH THIS
PROGRAM
TO BE ABOUT CHF 10 MILLION IN FINANCIAL YEAR 2024
    * ESTIMATES ONE-TIME COSTS ASSOCIATED WITH THIS PROGRAM TO
BE
ABOUT CHF 10 MILLION IN FINANCIAL YEAR 2024

Source text for Eikon:  ID:nEQ23rW5Va 
Further company coverage:  BYS.S 

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