Brief: Coltene Holding To Sell Their Brazilian Subsidiary Vigodent

COLTENE Holding AG

17/12/2020 06:09

Dec 17 (Reuters) - COLTENE HOLDING AG  CLTN.S :
    * HAS BENEFITED FROM A RAPID RECOVERY IN DENTAL MARKETS.
SALES
VOLUMES AND EARNINGS EXCEED EXPECTATIONS IN SECOND HALF OF YEAR.
    * HAS DECIDED TO DISCONTINUE NON-STRATEGIC PRODUCTS THAT ARE
LOW-VOLUME AND HAVE LOW EBIT MARGINS.
    * DECIDED TO SELL THEIR BRAZILIAN SUBSIDIARY VIGODENT TO
LOCAL
ENTREPRENEURS
    * SALE WILL RESULT IN A ONE-TIME NON-CASH CHARGE IN AMOUNT
OF
APPROXIMATELY CHF 12 MILLION.
    * NET EFFECTS OF THESE MEASURES WILL REDUCE FUTURE COLTENE
GROUP
SALES BY ABOUT CHF 7.0 MILLION BUT WILL HAVE A POSITIVE IMPACT
ON OPERATIONAL MARGIN.
    * FOR CURRENT YEAR, GROUP MANAGEMENT EXPECTS SALES IN RANGE
OF CHF
235 MILLION TO CHF 240 MILLION AND EBIT OF CHF 28 MILLION TO CHF
30 MILLION BEFORE ONE-TIME EFFECTS.

Source text for Eikon:  ID:nTEN9gl0va 
Further company coverage:  CLTN.S 

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