Duerr: Shares slide as coronavirus weighs on Q1, outlook

Duerr AG

14/05/2020 09:13

** Shares in Duerr  DUEG.DE  fall 4.6% after the company
reported Q1 results and refrained from providing FY forecast
citing negative impact from the new coronavirus
    ** The German industrial systems and automotive supplier
reports a 40% decline year-on-year in Q1 operating EBIT
 urn:newsml:reuters.com:*:nL8N2CW1E8
    ** It sees a substantial decline in Q2 order intake and
sales, says it does not rule out the possibility of a loss as
well as a negative cash flow from operating activities 
    ** Baader Helvea says Q1 figures are affected by weak
service business, considerably lower sales and earnings due to
COVID-19 headwinds in China
    ** "2Q20 will likely be the weakest quarter of the year,"
the broker adds
    ** Stock near the bottom of the German midcap index  .MDAXI 
    
    
    

 ((elizaveta.gladun@thomsonreuters.com))