Brief: Rapala H2 Oper Result Swings To Profit EUR 2.0 Mln

Rapala VMC Oyj

12/02/2020 15:04

Feb 12 (Reuters) - Rapala VMC Corp  RAP1V.HE :
    * H2 NET SALES EUR 134.2 MILLION VERSUS EUR 119.9 MILLION
YEAR AGO
    * H2 OPERATING PROFIT EUR 2.0 MILLION VERSUS LOSS EUR 0.5
MILLION
YEAR AGO
    * PROPOSES TO ANNUAL GENERAL MEETING THAT NO DIVIDEND IS
PAID FOR
2019
    * 2020 GUIDANCE: FULL YEAR NET SALES WITH COMPARABLE FX
RATES AND
COMPARABLE OPERATING PROFIT TO DECREASE FROM LAST YEAR
    * SAYS 2020 WILL BE A YEAR OF TRANSITION AS WE ARE
UNDERGOING
SIGNIFICANT CHANGES IN OUR THIRD PARTY PRODUCTS BUSINESS,
INTRODUCE 13 FISHING PRODUCTS TO MARKETS AS WELL AS CONTINUE TO
RESTRUCTURE OUR OPERATIONS AND DISTRIBUTION WORLDWIDE.
    * SAYS WE EXPECT OUR TOTAL NET SALES TO DECREASE FROM
PREVIOUS
YEAR DUE TO DECLINE IN THIRD PARTY PRODUCTS SALES AND LOWER
SALES IN WINTER SPORTS BUSINESS, WHICH IS BEING IMPACTED BY
EXTRAORDINARY MILD WINTER WEATHER IN EUROPE
    * SAYS AS A RESULT, COMPARABLE EBIT IS ALSO EXPECTED TO
DECREASE
FROM 2019.
    * SAYS HOWEVER, ONGOING RESTRUCTURING PROJECTS WILL CONTINUE
TO BE
IMPLEMENTED AND THEIR FINANCIAL BENEFITS WILL MATERIALIZE FOR
MOST PART DURING 2021.

Source text for Eikon:  ID:nGNE3Xnq2N 
Further company coverage:  RAP1V.HE 

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