RCS - KSB SE & Co. KGaA - Adjustment of sales and earnings forecast 2020

KSB SE & Co KgaAAnnouncement

09/04/2020 11:40

RNS Number : 3685J
  
KSB SE & Co. KGaA
  
09 April 2020
  
 

KSB SE & Co. KGaA: Adjustment of sales and earnings forecast 2020



KSB SE & Co. KGaA / Key word(s): Change in Forecast

KSB SE & Co. KGaA: Adjustment of sales and earnings forecast 2020



09-Apr-2020 / 11:10 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.
 
Impact of the COVID-19 pandemic - KSB retracts outlook for the 2020 financial year



FRANKENTHAL: The restrictions ordered by national governments due to the COVID-19 pandemic are resulting in substantial adjustments, interruptions and the closing of facilities and sites at several KSB companies as well as at customers and suppliers. This will inevitably entail tangible impacts on the KSB Group's business development.
Due to the uncertainty about the duration of the restrictions and in light of the current difficulty in estimating further potential consequences for production, the supply chain and demand, the Management of KSB SE & Co. KGaA has decided to retract the outlook for the 2020 financial year published in the 2019 Annual Report. As the developments which are being caused by the pandemic are highly dynamic, at the present time it is not possible to say when a new outlook can be issued.
The situation described is already having an impact on the financial results in the first quarter of the 2020 financial year. Based on preliminary figures, compared with the first quarter of last year KSB is expecting a decline in sales revenue of 3.2 % to € 518 million and a decrease in order intake of 12.0 % to € 588 million.
At the end of February 2020, KSB had cash and cash equivalents amounting to € 316 million and additional undrawn credit lines of over € 300 million. As these are not subject to compliance with certain financial key indicators or to any ranking by rating companies, they therefore secure our financial stability and flexibility.
KSB will publish the interim report on the first quarter of 2020 on 30 April 2020.






Contact:

Dr. Matthias Schmitz

Member of the Executive Board
 
09-Apr-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

Archive at www.dgap.de
 







Language:


English




Company:


KSB SE & Co. KGaA








Johann-Klein-Strasse 9








67227 Frankenthal








Germany




Phone:


+49 6233 86-2020




Fax:


+49 6233 86-3435




Internet:


www.ksb.com




ISIN:


DE0006292030




WKN:


629203




Listed:


Regulated Market in Dusseldorf, Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Hamburg, Munich, Stuttgart, Tradegate Exchange




EQS News ID:


1019415



 



 


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