Brief: Starrag Group FY Net Income At CHF 6.9 Mln

StarragTornos AG

06/03/2020 06:17

March 6(Reuters) - STARRAG GROUP HOLDING AG  STGN.S :
    * FY SALES UP 8% TO CHF 418 MILLION (UP 9% AT CONSTANT
EXCHANGE
RATES)
    * FY NET INCOME AT CHF 6.9 MILLION
    * FY ORDER BACKLOG DOWN AT CHF 284 MILLION
    * FY ORDER INTAKE DOWN 26% TO CHF 343 MILLION (DOWN 24% AT
CONSTANT EXCHANGE RATES)
    * FY OPERATING RESULT BEFORE RESTRUCTURING COSTS EBITR
AMOUNTED TO
CHF 14.0 MILLION, OR 3.4% OF SALES
    * TO PROPOSE DIVIDEND IN FORM OF REDUCTION IN NOMINAL VALUE
FREE
OF WITHHOLDING TAX AMOUNTING TO CHF 1.00 PER SHARE
    * MICHAEL HAUSER WILL BE PROPOSED AS NEW CHAIRMAN AT
FORTHCOMING
AGM ON 25 APRIL
    * OUTLOOK 2020 WITH REGARD TO ORDER INTAKE, EXPECTS FIGURE
IN LINE
WITH THAT OF PREVIOUS YEAR (IN LOCAL CURRENCY), AND SMALL
INCREASE IN BEST-CASE SCENARIO
    * SALES IN 2020 ARE LIKELY TO BE SIGNIFICANTLY BELOW
PREVIOUS
YEAR’S LEVEL OWING TO WEAKER ORDER INTAKE IN 2019
    * EXPECTS 2020 EBIT BEFORE RESTRUCTURING COSTS TO BE
SOMEWHAT
LOWER OR, IN BEST-CASE SCENARIO, UNCHANGED COMPARED WITH 2019

    
 Source text: https://bit.ly/38y6ei5
    
 Further company coverage:  STGN.S  
   


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