Brief: Frauenthal Holding FY EBITDA Up At EUR 67.1 Mln

Frauenthal Holding AG

24/03/2020 06:27

March 24(Reuters) - FRAUENTHAL HOLDING AG  FKAV.VI :
    * SAID ON MONDAY FY SALES DOWN AT EUR 951.3 MLN 
    * FY EBITDA UP AT EUR 67.1 MLN
    * DIVIDEND PROPOSAL FOR 2019 IS STILL BEING EVALUATED
DEPENDING ON
THE DURATION AND EFFECTS OF COVID-19 CRISIS
    * DUE TO LACK OF VISIBILITY, OUTLOOK FOR 2020 FINANCIAL YEAR
IS
CURRENTLY NOT POSSIBLE
    * CORONAVIRUS OUTBREAK IS HAVING IMPACT ON CO'S SUPPLY CHAIN
AND
FACTORIES, CO EXPECTS MASSIVE DEMAND AND PRODUCTION RESTRICTIONS
    * EXPECTS 2020 REVENUE AND EBITDA TO BE SIGNIFICANTLY BELOW
2019
    * ADJUSTMENT MEASURES IN AUTOMOTIVE DIVISION INCLUDE
TEMPORARY
CESSATION OR SIGNIFICANT REDUCTION IN PRODUCTION IN EUROPEAN
PLANTS AND IN AMERICAN PLANT IN SOUTH CAROLINA, MAKING USE OF
EXISTING SHORT-TIME WORKING MODELS
    * IN RETAIL DIVISION, DROP IN DEMAND IS BEING RESPONDED TO
BY
SWITCHING TO SHORT-TIME WORK   

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nAPA1MTvHM    
 Further company coverage:  FKAV.VI  
   


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