Brief: Conzzeta Sees 2020 Operating Profit In Mid-double-digit Million Swiss Francs

Bystronic AG

09/06/2020 05:48

June 9 (Reuters) - Conzzeta AG  CONC.S :
    * IMPACT OF THE CORONAVIRUS - BUSINESS UPDATE AND OUTLOOK
FOR 2020
    * ANNOUNCED STRATEGIC TRANSFORMATION OF GROUP CONTINUES
LARGELY AS
PLANNED
    * MEASURES INTRODUCED BY CONZZETA AND ITS THREE BUSINESS
UNITS TO
CUSHION ECONOMIC IMPACT OF PANDEMIC INCLUDE A COST SAVING
PROGRAM WITH A NET BENEFIT TO OPERATING RESULT (EBIT) OF CHF 40
MILLION BY END OF 2020
    * DIVESTMENT GAIN COMMUNICATED EARLIER OF AROUND CHF 45
MILLION
FROM SALE OF SCHMID RHYNER AS PER END OF FEBRUARY 2020 WILL ONLY
PARTLY OFFSET SIGNIFICANT DROP OF OPERATING RESULT IN FIRST HALF
OF 2020
    * EXPECTS FOR FULL YEAR 2020 TO REPORT A MID-DOUBLE-DIGIT
MILLION
CHF OPERATING PROFIT (INCL. DIVESTMENT GAIN) WITH SUBSTANTIALLY
LOWER NET SALES COMPARED TO PREVIOUS YEAR

Source text for Eikon:  ID:nEQ1Vq3hqa 
Further company coverage:  CONC.S 

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