Brief: Delticom Says FY EBITDA Loss Of EUR 7 Mln

Delticom AG

05/03/2020 08:03

March 5 (Reuters) - Delticom AG  DEXGn.DE :
    * SAID ON WEDNESDAY: REVENUE FORECAST MISSED MAINLY DUE TO MILD WEATHER AND CORRESPONDINGLY
LOWER
DEMAND, OPERATING EBITDA BETTER THAN EXPECTED, EBITDA WITHIN THE FORECASTED RANGE
    * FY REVENUE FELL 3.1 PERCENT TO 625 MILLION EUR, DUE TO AN EXCEPTIONALLY MILD WINTER,
DEMAND FOR
WINTER TYRES WAS LOWER THAN EXPECTED IN THE LAST WEEKS OF THE FISCAL YEAR
    * REVENUE RANGE OF EUR 650 TO 660 MILLION FORECASTED FOR THE YEAR AS A WHOLE WAS NOT
ACHIEVED
    * AT EUR -7 MILLION, FY EBITDA IS WITHIN THE FORECASTED CORRIDOR (FORECASTED RANGE: EUR -8
MILLION
TO EUR -5 MILLION, FY 18: EUR +9 MILLION)
    * WITH THE MEASURES ALREADY INITIATED LAST YEAR, THE COMPANY IS AHEAD OF THE RESTRUCTURING
PLAN
    * EXPECTED NEGATIVE EFFECTS OF LOSS TRANSFERS AND IMPAIRMENT LOSSES IN CONNECTION WITH THE
CLOSURE
OR POSSIBLE SALE OF SUBSIDIARIES AMOUNT TO ABOUT EUR 22 MILLION AND HAVE ALREADY BEEN TAKEN INTO
ACCOUNT IN THE 2019 FINANCIAL STATEMENTS
    * FURTHER EFFECTS COULD ARISE IN THE COMING WEEKS AS PART OF THE ONGOING AUDIT OF THE ANNUAL
FINANCIAL STATEMENTS
    * AS A RESULT OF THE FIRST-TIME APPLICATION OF IFRS 16 TO EXISTING OPERATING LEASES (RENTS),
SCHEDULED DEPRECIATION IN 2019 WILL BE AROUND EUR 5 MILLION HIGHER

Source text for Eikon:  ID:nEQZp2PYa 
Further company coverage:  DEXGn.DE 

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