Brief: Schlatter Says Records Loss For First Half Of 2020

Schlatter Industries AG

18/08/2020 05:05

Aug 18 (Reuters) - Schlatter Industries AG  STRN.S :
    * SCHLATTER RECORDS A LOSS FOR FIRST HALF OF 2020
    * IN FIRST HALF OF 2020, SCHLATTER GROUP RECORDED AN ORDER
INTAKE
OF CHF 39.1 MILLION
    * SCHLATTER- IN FIRST HALF OF 2020, SCHLATTER GROUP RECORDED
NET
SALES OF CHF 36.6 MILLION (H1 2019: CHF 54.7 MILLION)
    * ORDER BACKLOG STOOD AT CHF 28.8 MILLION AS AT 30 JUNE 2020
    * FOR FIRST HALF OF YEAR, SCHLATTER GROUP POSTED AN
OPERATING LOSS
(EBIT) OF CHF -3.6 MILLION
    * NET RESULT FOR FIRST HALF OF 2020 WAS CHF -4.0 MILLION
    * SCHLATTER - REPERCUSSIONS OF CORONAVIRUS PANDEMIC RESULTED
IN
SIGNIFICANTLY LOWER NET SALES THAN HAD BEEN EXPECTED FOR FIRST
HALF OF 2020
    * SCHLATTER - FOR SECOND HALF OF 2020, SCHLATTER GROUP IS
ANTICIPATING A RECESSIONARY ENVIRONMENT FOLLOWED BY A GRADUAL
RECOVERY IN 2021
    * HAS RESTRUCTURED SALES FUNCTION FOR ITS WIRE WEAVING
MACHINES
    * RECOVERY OF GROUP'S MARKETS IS ANTICIPATED IN 2021
    * BOARD OF DIRECTORS AND MANAGEMENT EXPECT SCHLATTER GROUP
TO
REPORT A LOSS FOR SECOND HALF OF 2020


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