Brief: Saf Holland Q1 Adjusted Net Profit Down At EUR 11.3 Million

Saf-Holland Se

13/05/2020 06:37

May 13 (Reuters) - SAF HOLLAND SE  SFQN.DE :
    * SOLID FIRST QUARTER 2020
    * Q1 GROUP SALES DECREASED BY 18.1 PER CENT TO EUR 283.4
MILLION
DUE TO MARKET CONDITIONS
    * Q1 ADJUSTED EBIT MARGIN OF 6.5 PER CENT CLEARLY ABOVE
UPPER END
OF RANGE FOR FULL YEAR 2020
    * Q1 ADJUSTED EBIT AMOUNTED TO EUR 18.4 MILLION IN Q1 OF
2020
(PREVIOUS YEAR: EUR 24.8 MILLION)
    * ADJUSTED NET PROFIT FOR Q1 OF 2020 OF EUR 11.3 MILLION
(PREVIOUS
YEAR: EUR 16.4 MILLION) LIES 31.1 PER CENT BELOW PREVIOUS YEAR'S
LEVEL
    * ANTICIPATES A DECREASE IN GROUP SALES OF 20 TO 30 PER CENT
FOR
2020 FINANCIAL YEAR COMPARED TO 2019
    * IS PROJECTING AN ADJUSTED EBIT MARGIN OF BETWEEN 3 PER
CENT AND
5 PER CENT FOR 2020 FINANCIAL YEAR
    * IS PLANNING INVESTMENTS OF APPROXIMATELY 3 PER CENT OF
GROUP
SALES IN 2020 FINANCIAL YEAR (PREVIOUS YEAR: 4.1 PER CENT)
    * EXACT COMMERCIAL IMPACT OF CURRENT COVID-19 PANDEMIC ON
SAF-HOLLAND HOWEVER CAN STILL NOT BE PRECISELY IDENTIFIED OR
RELIABLY QUANTIFIED

Source text for Eikon:  ID:nEQ6TLN6Ja 
Further company coverage:  SFQN.DE 

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