Swiss OC Oerlikon falls as weak China demand weighs on orders
03/08/2023 08:03
** Shares in Swiss industrial group OC Oerlikon OERL.S
fall 6% after the firm again cut its annual EBITDA margin
outlook weighed by weaker demand from China
** The group now expects to report an operating profit
margin of 15.5% for the full year, down from a previous forecast
of 16% to 16.5%
** "The guidance confirms that recovery is not in sight yet
and pick up in activity is not expected before the end of 2023,"
Vontobel analysts said
** This is the third outlook downgrade for Oerlikon since
November last year, which first flagged a slowdown in Chinese
demand back in February
(Reporting by Andrey Sychev)
((Andrey.Sychev2@thomsonreuters.com))