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DUE - Duerr AG News Story

€34.8 -0.2  -0.5%

Last Trade - 4:35pm

Sector
Industrials
Size
Mid Cap
Market Cap £2.11bn
Enterprise Value £2.10bn
Revenue £2.89bn
Position in Universe 295th / 1050

BRIEF-Duerr Announces New Forecast For 2020

Wed 29th July, 2020 3:57pm
July 29 (Reuters) - DUERR AG  DUEG.DE :
    * ANNOUNCING NEW FORECAST FOR 2020, SAVINGS OF AROUND € 60
MILLION
PLANNED FROM 2021
    * OUTLOOK 2020: ORDER INTAKE SHOULD REACH EUR 3,100 TO 3,400
MILLION
    * OUTLOOK 2020: SALES BETWEEN EUR 3,200 TO 3,400 MILLION
    * OUTLOOK 2020: TARGET CORRIDOR OF 2.5 TO 2.8 % HAS BEEN
DEFINED
FOR OPERATING EBIT MARGI
    * OUTLOOK 2020: EBIT AFTER EXTRAORDINARY EFFECTS IS EXPECTED
TO
REACH SLIGHTLY POSITIVE TERRITORY
    * ANTICIPATES ANNUAL SAVINGS OF AROUND EUR 60 MILLION FROM
2021
    * PRELIMENARY H1 ORDER INTAKE DROPPED BY 22.8% TO EUR
1,483.0
MILLION
    * H1 SALES DROPPED BY 14.1% TO EUR 1,615.2 MILLION
    * H1 OPERATING EBIT CAME TO EUR 23.7 MILLION
    * H1 EBIT WAS STILL POSITIVE AT EUR 6.6 MILLION
    * Q2 OPERATING EBIT CAME TO EUR -8.9 MILLION
    * Q2 EBIT STOOD AT EUR -16.4 MILLION
    * TO ADOPT AN EFFICIENCY PROGRAM TO ACHIEVE SAVINGS OF
AROUND EUR
30 MILLION FROM 2021
    * REDUCTION OF AROUND 600 JOBS IN AUTOMOTIVE BUSINESS IN
GERMANY
AND IN OTHER EUROPEAN COUNTRIES

Source text for Eikon:  ID:nEQbYbRM2a 
Further company coverage:  DUEG.DE 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 772 0920;;))
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