Brief: Friwo Preliminary FY 2021 Revenue At Around EUR 100 Mln

FRIWO AG

15/02/2022 10:48

Feb 15 (Reuters) - FRIWO AG  CEAG.DE :
    * FRIWO AG'S 2021 ANNUAL RESULT MEETS REVENUE FORECAST AND
IS
SLIGHTLY BELOW EARNINGS GUIDANCE DUE TO A GOODWILL IMPAIRMENT
    * CONSOLIDATED REVENUE FOR 2021 FINANCIAL YEAR IS EXPECTED
TO BE
IN REGION OF 100 MILLION EUROS
    * 2021 ANNUAL RESULT MEETS REVENUE FORECAST AND IS SLIGHTLY
BELOW
EARNINGS GUIDANCE DUE TO A GOODWILL IMPAIRMENT
    * FOR 2022 FINANCIAL YEAR, FRIWO CONTINUES TO EXPECT REVENUE
GROWTH AND A POSITIVE RESULT AGAIN ON BASIS OF GOOD ORDER
SITUATION, WHICH CONTINUED IN Q4 OF 2021.
    * REASON FOR THIS IS AN UNSCHEDULED GOODWILL IMPAIRMENT OF
2.3
MILLION EUROS ON AN IN 2017 OWNED PRODUCTION FACILITY IN VIETNAM
    * CONTINUES TO EXPECT REVENUE GROWTH AND A POSITIVE RESULT
AGAIN
ON BASIS OF GOOD ORDER SITUATION, WHICH CONTINUED IN Q4 OF 2021
    * PRELIMINARY FY 2021 EARNINGS BEFORE INTEREST AND TAXES
(EBIT),
WHICH WERE SIGNIFICANTLY AFFECTED BY NEGATIVE IMPACTS OF CORONA
PANDEMIC, WITH -7.9 MILLION EUROS ARE EXPECTED TO BE SLIGHTLY
BELOW FORECASTED NEGATIVE MID-SINGLE-DIGIT MILLION FIGURE

Source text for Eikon:  ID:nEQ8htVDNa 
Further company coverage:  CEAG.DE 

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