Brief: Schaltbau again lowers earnings forecast for 2016

Schaltbau Holding AG

09/11/2016 15:14

Nov 9 (Reuters) - Schaltbau  SLTG.DE : 
    * Again lowers earnings forecast for 2016 and announces 
guidance for 2017 
    * For fiscal year 2016, Schaltbau group therefore now 
expects profit before financial result and taxes to total 10.2 
million euros ($11.18 million)after most recent forecast of 21 
million euros (originally: 41.5 million euros) 
    * FY group net profit is now expected to come in at 5.4 
million euros after recently forecasting 11 million 
euros(originally: 27.3 million euros) 
    * FY earnings per share are now predicted to amount to 0.28 
euros(originally: eur 3.50) 
    * Schaltbau has adjusted its FY sales target downwards to 
around 500 million euros 
    * In 2017, Schaltbau group aims to report sales of 550 
million euros 
    * According to group's forecast, profit before financial 
result and taxes (EBIT) should be in region of 27.5 million 
euros for 2017 
    * Group net profit for year 2017 is forecast at 16.0 million 
euros and earnings per share at around 2.00 euros 
    * Worsening sales performance in both mobile transportation 
technology segment and brake systems business field again in Q4 
is having an impact on group's profitability 
    * Co's components segment is predicted to experience 
unexpectedly steep decline in sales in Q4 due to a significant 
reduction in orders from China's railway authority 
 
Source text for Eikon:  ID:nEQ1jg86Q  
Further company coverage:  SLTG.DE  
 
($1 = 0.9124 euros) 
 
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