Brief: Patrizia Management Expects FY 2023 EBITDA At The Lower End Of EUR 50 - 70 Mln Range

Patrizia SE

13/11/2023 17:03

Nov 13 (Reuters) - PATRIZIA SE  PATGn.DE :
    * SOLID 9M 2023 RESULTS BUT CONTINUED MARKET UNCERTAINTIES -
INITIATION OF COST PROGRAMME IMPACTING FY 2023 EBITDA AND
IMPROVING FY 2024 EARNINGS QUALITY
    * SAYS MANAGEMENT IS CONFIDENT TO DELIVER ON ITS FY 2023
GUIDANCE
RANGE OPERATIONALLY
    * MANAGEMENT INTENDS TO BASE DIVIDEND PAYMENTS ON A
PROFITABILITY
KPI OF GROUP GOING FORWARD AND WILL PROVIDE AN UPDATE AND A
DIVIDEND PROPOSAL FOR FY 2023 TOGETHER WITH PRELIMINARY
FINANCIAL RESULTS IN FEBRUARY 2024
    * MANAGEMENT INITIATED A COMPREHENSIVE REVIEW OF COMPANY'S
COST
BASE WHICH IS EXPECTED TO LEAD TO REORGANISATION EXPENSES OF
BETWEEN EUR 10.0 - 20.0M IN Q4 2023
    * SAYS MANAGEMENT EXPECTS FY 2023 EBITDA TO COME IN AT LOWER
END
OF SO FAR COMMUNICATED GUIDANCE RANGE OF EUR 50.0 - 70.0M

Source text for Eikon:  ID:nEQ3wVqsva 
Further company coverage:  PATGn.DE 

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