Brief: Schaffner Adjusts FY Forecast Due To Changed Economic Environment

Schaffner Holding AG

22/03/2019 05:08

March 22 (Reuters) - Schaffner Holding AG  SAHN.S :
    * SCHAFFNER GROUP ALIGNS EXPECTATIONS FOR CURRENT FISCAL
YEAR
    * EXPECTS NET SALES FOR CURRENT FISCAL YEAR TO BE BELOW LAST
YEAR'S LEVEL, DUE TO CHANGED ECONOMIC ENVIRONMENT
    * MEDIUM-TERM TARGET RANGE FOR GROUP'S EBIT MARGIN OF 8 TO
10% IS
UNLIKELY TO BE ACHIEVED ALREADY IN CURRENT FISCAL YEAR
    * ADJUSTMENT IN FY FORECAST DUE TO LOWER SALES IN AUTOMOTIVE
DIVISION DUE TO PRESENT WEAKNESS OF GLOBAL AUTOMOTIVE MARKET AND
CHINA SLOWDOWN

Source text for Eikon:  urn:newsml:reuters.com:*:nTENslau8a
Further company coverage:  SAHN.S 

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