Brief: Scandinavian Brake Systems cuts 2016 guidance

SCANDINAVIAN BRAKE SYSTEMS Under frivillig likvidation A/S

23/11/2016 06:22

Nov 23 (Reuters) - Scandinavian Brake Systems A/S  SBS.CO : 
    * Said on Tuesday now expects 2016 revenue of between 760 million - 770 
million Danish crowns  ($108.5 million-$110.00 million) versus previously guided 
770 million - 800 million crowns 
    * Now sees 2016 EBITDA ex. items at 49 million - 52 million crowns 
(previously 55 million - 62 million crowns) 
    * Cuts guidance due to Q3 results and updated Q4 forecast 
    * Said performance of its biggest division, SBS Automotive, has been below 
expectations in H2  
    * In 2017 expects revenue and earnings to improve from 2016 level 
 
 
             
 Source text for Eikon:  urn:newsml:reuters.com:*:nCSE6Fbg 
     
 Further company coverage:  SBS.CO   
    
 
 
 
($1 = 6.9986 Danish crowns) 
 
 
($1 = 7.0000 Danish crowns) 
 
 (Gdynia Newsroom) 
 ((Gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))