Brief: Grammer AG's warns Q1 earnings to be significantly below 2019 level
02/03/2020 18:54
March 2 (Reuters) - Grammer AG GMMG.DE :
* EARNINGS FOR Q1/2020 EXPECTED TO BE VERY SIGNIFICANTLY
BELOW
PREVIOUS YEAR
* EXECUTIVE BOARD'S PROPOSAL FOR APPROPRIATION OF PROFIT OF
EUR
0.11 PER SHARE
* BASED ON PRELIMINARY FIGURES FOR MONTHS OF JANUARY AND
FEBRUARY
2020, GRAMMER ASSUMES THAT ITS SALES IN Q1 WILL BE AT A
SIGNIFICANTLY LOWER LEVEL THAN IN PREVIOUS YEAR.
* EARNINGS BEFORE INTEREST AND TAXES (EBIT) (PRIOR YEAR: EUR
24
MILLION) AND OPERATING EBIT (PRIOR YEAR: EUR 23 MILLION) ARE
EXPECTED TO BE VERY SIGNIFICANTLY LOWER IN Q1 OF 2020 THAN IN
SAME PERIOD OF LAST YEAR.
* GRAMMER AG'S EXECUTIVE BOARD DECIDED TODAY TO PROPOSE TO
ANNUAL
GENERAL MEETING A RESOLUTION FOR APPROPRIATION OF PROFITS FOR
FINANCIAL YEAR 2019 WITH A DIVIDEND OF EUR 0.11 PER SHARE (PRIOR
YEAR: EUR 0.75 PER SHARE).
Source text for Eikon: ID:
Further company coverage: GMMG.DE
((frankfurt.newsroom@thomsonreuters.com; +49 69 7565 1270;))