Brief: Grammer Sees Decrease In Revenues And Weaker Earnings In Q1

GRAMMER AG

03/03/2020 07:22

March 3 (Reuters) - Grammer AG  GMMG.DE :
    * DGAP-NEWS: GRAMMER EXPECTS DECREASE IN REVENUES AND WEAKER EARNINGS IN THE FIRST QUARTER
2020
    * EFFECTS OF CORONAVIRUS HAVE AN ADVERSE IMPACT ON REVENUES AND EARNINGS IN Q1
    * REDUCED DIVIDEND PROPOSAL TO STRENGTHEN EQUITY
    * DECLINE IN GLOBAL VEHICLE PRODUCTION IN BOTH SEGMENTS LEADS TO REDUCED REVENUES AND
EARNINGS IN
2020
    * PREDICTING A SIGNIFICANT DECREASE IN REVENUES FOR Q1 COMPARED TO PREVIOUS YEAR (Q1/2019:
EUR 534
MILLION)
    * FIRST MEASURES OF EFFICIENCY ENHANCEMENT PROGRAM IMPLEMENTED
    * ASSUMES (EBIT) (PRIOR YEAR: EUR 24 MILLION) AND OPERATING EBIT (PRIOR YEAR: EUR 23
MILLION) FOR
Q1 TO BE VERY SIGNIFICANTLY LOWER THAN IN SAME PERIOD OF LAST YEAR
    * FORECASTING A DECLINE IN SALES AND EARNINGS FOR FULL YEAR
    * DOES NO LONGER MAINTAIN ITS ORIGINAL REVENUES AND EARNINGS FORECAST FOR COMING YEARS

Source text for Eikon:  ID:nEQ51h6dba 
Further company coverage:  GMMG.DE 

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