Brief: Schweizer Electronic Expects Negative Business Development In 2020

Schweizer Electronic AG

21/04/2020 07:49

April 21 (Reuters) - SCHWEIZER ELECTRONIC AG  SWEGn.DE :
    * CONFIRMS CONSOLIDATED FIGURES FOR 2019 AND PROVIDES AN
OUTLOOK
FOR 2020
    * FY ORDER BOOK TOTALLED EUR 126.7 MILLION
    * POSITIVE EFFECTS OF EXTENSIVE COST SAVINGS IN TERMS OF
MATERIAL
AND PERSONNEL COSTS INITIATED IN 2019 WILL ONLY HAVE A FULL
IMPACT IN 2020.
    * WILL PROPOSE A SUSPENSION OF DIVIDEND TO UPCOMING ANNUAL
GENERAL
MEETING
    * EXPECTS NEGATIVE BUSINESS DEVELOPMENT IN 2020
    * FY (EBITDA) AMOUNTING TO EUR 0.1 MILLION (PREVIOUS YEAR:
EUR 9.2
MILLION)
    * MORE OPTIMISTIC SCENARIO INDICATES SALES GROWTH OF -10 TO
-15
PERCENT AND AN EBITDA RATIO OF -2 TO -6 PERCENT
    * FY GROSS PROFIT WAS EUR 12.6 MILLION (2018: EUR 18.6
MILLION)
    * MORE PESSIMISTIC SCENARIO INCLUDES SALES GROWTH OF -20 TO
-25
PERCENT AND AN EBITDA RATIO OF -4 TO -8 PERCENT FOR 2020
    * EFFECTS OF CORONAVIRUS PANDEMIC MAKE IT VERY DIFFICULT TO
MAKE
RELIABLE PROJECTIONS FOR 2020 FINANCIAL YEAR
    * FY CONSOLIDATED SALES AMOUNTED TO EUR 120.7 MILLION
(PREVIOUS
YEAR: EUR 125.3 MILLION)
    * FY EARNINGS AFTER TAX AMOUNTED TO EUR -5.6 MILLION
(PREVIOUS
YEAR: EUR +0.5 MILLION)

Source text for Eikon:  ID:nEQ2rPkDHa 
Further company coverage:  SWEGn.DE 

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