Brief: R. Stahl reduces FY 2015 forecast, to cut 225 jobs worldwide
06/10/2015 10:26
Oct 6 (Reuters) - R Stahl AG RSL2.DE :
* Reduces its forecast for 2015 and adopting a comprehensive set of measures to safeguard
competitiveness over the long term
* Reason for reducing forecast is due to continuously low oil price
* FY expectations for EBIT are reduced from between 16 million euros and 20 million euros
down to between 2 million euros and 5 million euros
* For fiscal year 2015, executive board is adjusting forecast corridor for order intake and
sales from between 320 million euros and 330 million euros down to between 300 million euros and
310 million euros
* Expecting a decline in order intake as well as sales and earnings during second half of
2015
* Seeing sharpest decline in investments from customers since oil crisis 30 years ago
* Low oil price resulted in oil and gas industry customers significantly reducing its
investments
* No recovery of oil and gas market is foreseeable for 2016
* For 2016 is anticipating a sustained low investment volume in oil and gas industry and is
therefore planning sales in range of 280 million euros to 290 million euros with an EBIT margin
in amount of 5 pct to 7 pct
* During fiscal year 2016, company expects to yield cost-savings in amount of about 20
million euros
* A total of 225 jobs will be cut worldwide as a result of personnel measures
Source text for Eikon: ID:nEQ5Z913za
Further company coverage: RSL2.DE
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