Brief: Klingelnberg H1 EBIT Of EUR -10.0 Mln

Klingelnberg AG

12/11/2019 05:45

Nov 12(Reuters) - KLINGELNBERG AG  KLIN.S :  
    * H1 2019/20 NET SALES DECLINE BY EUR 10.7 MILLION TO EUR
88.4
MILLION 
    * H1 EBIT OF EUR -10.0 MILLION WAS AROUND EUR 5.3 MILLION
BELOW
COMPARABLE FIGURE FOR PREVIOUS YEAR
    * SAYS DECLINE IN SALES AND EARNINGS IS DUE TO INVESTMENT
BACKLOGS
IN KEY CUSTOMER SECTORS
    * EXPECTS FY SALES TO DECLINE AROUND 15–20 % WITH A POSITIVE
OPERATING RESULT 
    * SAYS FY EXPECTATIONS DO NOT TAKE INTO ACCOUNT POTENTIAL
ONE-OFF
EXPENSES FOR EFFICIENCY ENHANCEMENT PROGRAM AS PUBLISHED ON OCT.
14

    
 Source text - https://bit.ly/32F1Hay
    
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