Brief: Forbo Says For 2023, Co Expects Net Sales In Corporate Currency To Decline By About 10% YOY, With Group Profit In Range Of Around Chf 100 Mln

Forbo Holding AG

25/10/2023 05:51

Oct 25 (Reuters) - Forbo Holding Ag  FORN.S :
    * NEGATIVE CURRENCY EFFECTS AND REDUCED MARKET DYNAMICS
IMPACT
BUSINESS PERFORMANCE IN THE THIRD QUARTER OF 2023, LOWERING
EXPECTATIONS FOR THE YEAR OVERALL
    * FORBO- FOR 2023, CO EXPECTS NET SALES IN CORPORATE
CURRENCY TO
DECLINE BY ABOUT 10% YEAR ON YEAR, WITH GROUP PROFIT IN RANGE OF
AROUND CHF 100 MILLION
    * CURRENCY EFFECTS OVER 2023 BUSINESS YEAR WILL HAVE A
NEGATIVE
IMPACT ON NET SALES OF AROUND CHF 80 MILLION AND SOME CHF 10
MILLION ON EBIT
    * FOR 2023 FREE CASH FLOW, FORBO EXPECTS ROUGHLY A DOUBLING
OF
PREVIOUS YEAR'S VALUE (2022: CHF 50.5 MILLION)
    * FORBO WILL OFFSET SIGNIFICANT RISE IN PERSONNEL AND ENERGY
COSTS
THROUGH ONGOING MEASURES TO SECURE PROFITABILITY IN 2023

Source text for Eikon:  ID:nEQ4Ph4dGa 
Further company coverage:  FORN.S 

 ((Reuters.Briefs@thomsonreuters.com;))