Brief: New Work Confirms Full-Year Guidance For Revenues And Margin

New Work SE

05/11/2020 06:33

Nov 5 (Reuters) - New Work  NWON.DE :
    * SAYS  9M TOTAL REVENUES SEE SLIGHT GROWTH OF 4 PER CENT
    * SAYS  CEO VON STROMBECK: “LONG-TERM TRENDS REMAIN
POSITIVE”
    * SAYS  FULL-YEAR GUIDANCE FOR REVENUES AND MARGIN CONFIRMED
    * SAYS  ON 9M, COMPARED TO THE SAME PERIOD IN THE PREVIOUS
YEAR,
REVENUES (EXCLUDING. M&A EFFECTS) SAW SLIGHT GROWTH OF 4 PER
CENT TO €204.5 MILLION (9M 2019: €196.4 MILLION)
    * SAYS   PRO-FORMA EBITDA FOLLOWING ADJUSTMENT FOR ONE-TIME,
NON-OPERATING SPECIAL EFFECTS WAS €67.5 MILLION, UP 7 PER CENT
COMPARED TO THE SAME PERIOD IN 2019 (€63.0 MILLION).
    * SAYS   PRO-FORMA NET PROFIT FOR THE PERIOD GREW BY AROUND
21 PER
CENT TO €32.2 MILLION (9M 2019: € 26.6 MILLION)
    * SAYS   EXECUTIVE BOARD HAS INTRODUCED A RANGE OF MEASURES
THAT
INCLUDE COST SAVINGS IN CERTAIN AREAS OF THE BUSINESS
    * SAYS   ALTHOUGH POTENTIAL NEW CUSTOMERS REMAIN RELUCTANT
DUE TO
THE SUSTAINED NEGATIVE IMPACT OF THE CORONAVIRUS, THE B2B
E-RECRUITING SEGMENT SAW ITS PRO-FORMA REVENUES (EXCLUDING.
ONE-TIME M&A EFFECTS) RISE TO €114.3 MILLION
    * SAYS    CORONAVIRUS PANDEMIC IS HAVING A TANGIBLE EFFECT
ON OUR
BUSINESS. WE’RE NOWHERE NEAR THE GROWTH RATES WE ENJOYED BEFORE
THE ONSET OF THE CORONAVIRUS
    * SAYS    OUR OUTLOOK FOR FUTURE REMAINS POSITIVE AS WE’VE
ALIGNED
OUR OFFERINGS WITH LONG-TERM TRENDS SUCH AS DIGITALISATION,
DEMOGRAPHIC CHANGE, AND SHIFTS IN SOCIETAL VALUES
    * SAYS   N SOME CASES, SUCH AS DIGITALISATION, THE PANDEMIC
IS
EVEN ACCELERATING THESE TRENDS
    * SAYS   COMPARED TO 9M 2019, XING REPORTED GROWTH OF 1.7
MILLION
NEW MEMBERS

Source text for Eikon:  ID:nNDL96dnkp 
Further company coverage:  NWON.DE 

 (Reporting by Berlin Speed Desk)
 ((berlin.newsroom@thomsonreuters.com;))