Brief: SAF-HOLLAND Revised Outlook For Fiscal Year 2019

Saf-Holland Se

23/09/2019 20:19

Sept 23 (Reuters) - Saf Holland SA  SFQN.DE :
    * DGAP-ADHOC: SAF-HOLLAND S.A.: SAF-HOLLAND S.A. REVISED
OUTLOOK
FOR FISCAL YEAR 2019
    * SAYS ADJUSTED EBIT MARGIN IS NOW EXPECTED IN A RANGE OF
6.0 PER
CENT TO 6.5 PER CENT FOR FULL YEAR
    * NOW EXPECTS GROUP SALES FOR FISCAL YEAR 2019 TO RANGE FROM
EUR
1,260 MILLION TO EUR 1,300 MILLION (PREVIOUS YEAR EUR 1,301
MILLION)
    * SAYS GROUP FORECAST FOR FISCAL YEAR 2020 CAN NO LONGER BE
MAINTAINED
    * SAF HOLLAND- REVISED OUTLOOK IS IN PARTICULAR RESULT OF
CONTINUED DETERIORATION IN OVERALL ECONOMIC CONDITIONS -
PARTICULARLY IN EUROPE, CHINA AND INDIA
    * SAF-HOLLAND ALSO ANTICIPATES FY INVESTMENT VOLUME TO BE
LOWER,
AMOUNTING TO BETWEEN EUR 58 MILLION AND EUR 63 MILLION
    * SAF HOLLAND - SAF-HOLLAND EXPECTS NEGATIVE TREND OF LAST
MONTHS
TO CONTINUE UNTIL END OF YEAR
    * SEES NET WORKING CAPITAL IN RELATION TO GROUP SALES, TO BE
IN A
RANGE OF 13 PER CENT TO 14 PER CENT
    * SAF HOLLAND -ANTICIPATES INVESTMENT VOLUME TO BE LOWER,
AMOUNTING TO BETWEEN EUR 58 MILLION & EUR 63 MILLION (PREVIOUS
EXPECTATION: EUR 68 MILLION TO EUR 70 MILLION)
    * SAF HOLLAND- POST CHINA OPERATIONS REVIEW & RESTRUCTURING
MEASURES IN COURSE OF PLANT RAMP-UP IN YANGZHOU, MORE
IMPAIRMENTS ON RECEIVABLES & INVENTORIES EXPECTED

Source text for Eikon:  ID:nEQ4qdWHJa 
Further company coverage:  SFQN.DE 

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