Brief: Emmi FY Net Profit Down At EUR 166 Million

Emmi AG

02/03/2020 06:06

March 2 (Reuters) - EMMI AG  EMMN.S :
    * INCREASED ITS SALES BY 1.1 % TO CHF 3,494 MILLION IN 2019
    * FY EARNINGS BEFORE INTEREST AND TAXES (EBIT) IMPROVED BY
0.5 %
TO CHF 218 MILLION
    * FY NET PROFIT AT CHF 166 MILLION, 5.3 % BELOW ADJUSTED
FIGURE
FOR PREVIOUS YEAR
    * DIVIDEND OF CHF 12.00
    * IN BUSINESS DIVISION AMERICAS, DEMAND IN US AND MEXICO IS
ALSO
EXPECTED TO GROW IN 2020
    * BRAZIL WILL SIGNIFICANTLY INCREASE SALES IN BUSINESS
DIVISION
AMERICAS IN 2020 BUT WILL ONLY MAKE A MINOR CONTRIBUTION TO
ORGANIC GROWTH
    * SPAIN AND FRANCE - WILL ALSO IMPEDE SALES PERFORMANCE
    * CONFIRMS ITS MID-TERM SALES GROWTH FORECASTS AND FORECAST
FOR
NET PROFIT MARGIN
    * EXPECTS EARNINGS BEFORE INTEREST AND TAXES (EBIT) TO RISE
SLIGHTLY OVERALL AT GROUP LEVEL IN 2020
    * NET PROFIT MARGIN, ON OTHER HAND, IS LIKELY TO FALL
SLIGHTLY IN
2020
    * ORGANIC SALES GROWTH IN LINE WITH MEDIUM-TERM FORECASTS
SHOULD
THEREFORE BE REALISTIC FOR 2020 AS WELL

Source text for Eikon:  ID:nTENuarl9a 
Further company coverage:  EMMN.S 

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