Brief: Duerr Says Coronavirus Negatively Impacting Business, No Full-Year Forecast

Duerr AG

14/05/2020 06:44

May 14 (Reuters) - Duerr AG  DUEG.DE :
    * CORONA NEGATIVELY IMPACTING BUSINESS PERFORMANCE
    * EXPECTS A SUBSTANTIAL DECLINE IN ORDER INTAKE AND SALES IN
THE
SECOND QUARTER AND DOES NOT RULE OUT THE POSSIBILITY OF A LOSS
AS WELL AS A NEGATIVE CASH FLOW FROM OPERATING ACTIVITIES
    * GRADUAL RECOVERY EXPECTED IN THE SECOND HALF OF THE YEAR
    * GIVEN THE EXCEPTIONAL MACROECONOMIC SITUATION, IT IS
CURRENTLY
NOT POSSIBLE TO PROVIDE A PRECISE FORECAST FOR THE YEAR AS A
WHOLE
    * Q1 OPERATING EBIT DROPPED TO € 32.6 MILLION (DOWN 40.2%)
PRIMARILY AS A RESULT OF THE LOWER SALES AND CONTRACTION OF
SERVICE BUSINESS
    * AFTER EXTRAORDINARY EXPENSES, EBIT CAME TO € 22.9 MILLION,
WHILE
EARNINGS AFTER TAX REACHED € 13.2 MILLION.
    * ORDER INTAKE RECEDED BY 24.2% OVER THE STRONG FIRST
QUARTER OF
2019 TO € 838.3 MILLION
    * AT € 842.6 MILLION, SALES FELL BY 11.3%
    * IN A SOLID POSITION THANKS TO HIGH LIQUIDITY, FREE FUNDS
OF A
RECORD € 1.7 BILLION
    * IN CHINA, BUSINESS HAS RETURNED TO NORMAL FOLLOWING THE
LOCKDOWN
IN JANUARY/FEBRUAR

Source text: https://tinyurl.com/yaxwnqcp
Further company coverage:  DUEG.DE 

 (Reporting by Berlin Speed Desk)
 ((berlin.newsroom@thomsonreuters.com ; +49 30 2888 5156))