Brief: Phoenix Mecano AG: Incoming Orders Down 9.5% in FY22

Phoenix Mecano AG

16/02/2023 06:09

Feb 16 (Reuters) - Phoenix Mecano Ag  PM.S :
    * PHOENIX MECANO ACHIEVES RECORD RESULT IN A CHALLENGING
MARKET
ENVIRONMENT
    * BASED ON PROVISIONAL AND UNAUDITED RESULTS, PHOENIX MECANO
GROUP
GENERATED CONSOLIDATED GROSS SALES OF EUR 792.9 MILLION IN
FISCAL YEAR 2022, REPRESENTING A DECREASE OF 2.9%
    * IN ORGANIC, LOCAL-CURRENCY TERMS, DECLINE IN SALES WAS
6.8%
    * NET SALES FELL FROM EUR 809.5 MILLION TO EUR 784.4 MILLION
(DOWN
3.1%)
    * INCOMING ORDERS WERE DOWN BY 9.5%
    * INVESTIGATIONS INTO IRREGULARITIES AT A US SUBSIDIARY HAVE
BEEN
COMPLETED
    * WILL CORRECT EFFECTS IN PREVIOUS YEARS BY RESTATING
PRIOR-YEAR
FIGURES
    * THIS LEADS TO AN IMPROVEMENT OF EUR 4.7 MILLION IN 2022
OPERATING RESULT AND OF EUR 4.1 MILLION IN RESULT OF PERIO
    * DETAILED IMPACTS OF RESTATEMENT WILL BE EXPLAINED IN 2022
ANNUAL
REPORT
    * CAUTIOUSLY OPTIMISTIC FOR 2023 FINANCIAL YEAR

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