Brief: Komax FY EBIT Down At CHF 24.0 Mln

Komax Holding AG

17/03/2020 06:23

March 17 (Reuters) - KOMAX HOLDING AG  KOMN.S :
    * FY ORDER INTAKE CHF 408.7 MILLION, REVENUES CHF 417.8
MILLION
    * FY EBIT CHF 24.0 MILLION, DECREASED CONSIDERABLY AND WERE
WELL
BELOW RECORD RESULT ACHIEVED IN 2018
    * FY ORDER INTAKE DECREASED BY 17.7% TO CHF 408.7 MILLION
(2018:
CHF 496.7 MILLION)
    * ADAPTS MID-TERM TARGETS IN LINE WITH DEVELOPMENTS IN
AUTOMOTIVE
MARKET
    * BOARD OF DIRECTORS HAS DECIDED TO ADAPT ITS MID-TERM
TARGETS
(2017-2021) AND DEFINE A NEW TIME HORIZON, NAMELY 2023
    * TARGETS FOR 2023: REVENUES OF CHF 450-550 AND EBIT OF CHF
50-80
MILLION, AS WELL AS A PAYOUT RATIO OF 50%-60% OF EAT
    * MEDIUM- AND LONG-TERM GROWTH OUTLOOK REMAINS POSITIVE
    * EXPECT 2020 TO BE ANOTHER CHALLENGING YEAR
    * FOR THIS REASON, WE HAVE ALREADY INITIATED MEASURES TO
REDUCE
COSTS OVER LONG TERM
    * FORECAST CAN CURRENTLY NOT BE MADE FOR 2020 FINANCIAL YEAR

Source text for Eikon:  ID:nTENvhzr2a 
Further company coverage:  KOMN.S 

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