Brief: Delticom FY Consolidated Net Loss Widens To EUR 40.8 Million

Delticom AG

26/03/2020 17:23

March 26 (Reuters) - DELTICOM AG  DEXGn.DE :
    * PUBLISHES ANNUAL REPORT 2019: FINANCIAL, ASSETS AND
EARNINGS
POSITION AFFECTED BY RESTRUCTURING AND DEINVESTMENTS
    * POSITIVE EARNINGS EXPECTED IN 2021
    * CONSOLIDATED REVENUE TO SHRINK BY 3.1 PERCENT IN 2019 FROM
EUR
645.7 MILLION TO EUR 625.8 MILLION
    * GROUP OPERATING EBITDA BEFORE NON-RECURRING EXPENSES
TOTALLED
EUR 10.0 MILLION IN FISCAL YEAR 2019
    * FY CONSOLIDATED NET INCOME TOTALLED EUR -40.8 MILLION (EUR
-3.27
PER SHARE) COMPARED TO EUR -1.7 MILLION (EUR -0.13 PER SHARE) IN
PREVIOUS YEAR
    * FOR 2020, DELTICOM GROUP IS FORECASTING TOTAL ANNUAL
REVENUES OF
EUR 600 TO 630 MILLION AND EBITDA OF BETWEEN EUR 1.0 AND 5.0
MILLION
    * FORECASTING EXTRAORDINARY EXPENSES OF AROUND EUR 4 MILLION
FOR
RESTRUCTURING AND DISCONTINUATION IN 2020
    * 2020 OPERATING EBITDA IN CURRENT YEAR WILL THEREFORE BE IN
RANGE
OF EUR 5 TO 9 MILLION
    * EXTENT TO WHICH CORONA VIRUS WILL AFFECT COURSE OF
BUSINESS IN
CURRENT YEAR CAN CURRENTLY ONLY BE ESTIMATED WITH CONSIDERABLE
UNCERTAINTY
    * NOVEL CORONA VIRUS MAY TEMPORARILY LEAD TO INCREASED
ONLINE
DEMAND
    * ON OTHER HAND, OFFICIAL AND PRIVATE RESTRICTIONS WILL
AFFECT USE
OF VEHICLES AND THUS, EVENTUALLY REPLACEMENT TYRE BUSINESS
    * WILL START TO RECORD POSITIVE RESULTS AGAIN IN 2021
    * MEDIUM-TERM TARGET IS AN OPERATING EBIT MARGIN OF 2 %."

Source text for Eikon:  ID:nEQ6VqPtga 
Further company coverage:  DEXGn.DE 

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