Kudelski: Set for worst day in 12 yrs after H1 results

Kudelski SA

20/08/2020 07:52

** Shares in Kudelski  KUD.S  tumble 16.2% in pre-market
trading after the Swiss IT services company reported a slump in
first-half earnings  urn:newsml:reuters.com:*:nL8N2FM0OK
    ** Kudelski reported first-half operating income before
depreciation and amortization (OIBDA) at $4.9 million, less than
one third of H1 OIBDA in 2019
    ** The company added it had to cut 489 jobs, or 14% of its
workforce, in the first half of 2020 to reduce costs
    ** It expects full-year EBITDA of $45-55 million
    ** Kudelski is seen at the bottom of the Swiss mid cap index
 .SMIM 

 ((zuzanna.szymanska@tr.com))