SFS seen down after H1 EBIT miss, 'challenging' outlook

SFS AG

18/07/2023 07:57

** Shares in SFS Group  SFSN.S  are seen down 2.4% after the
company reported its H1 results below expectations and lowered
its full-year outlook
    ** The precision components maker reported H1 EBIT at CHF
189.9 million ($221.0 million), up 16% on last year's figure,
but 3% below market expectations, notes Vontobel analyst Bernd
Pomrehn
    ** Vontobel adds that the EBIT miss reflects especially
reduced consumer demand for mobile phones and lifestyle
electronics and cost inflation
    ** SFS is now guiding for 2023 sales of CHF 3.1-3.3 billion
(previously CHF 3.2-3.3 billion) and an EBIT margin of around
12% (previously 12-15%)
    ** "The stock has had a fairly strong run ytd and we expect
it to give back some of those gains today," Berenberg says,
adding that it sees the updated guidance as still very
challenging

    


($1 = 0.8593 Swiss francs)

 (Reporting by Paolo Laudani)
 ((Paolo.laudani@thomsonreuters.com))