Brief: Starrag Group Holding FY EBIT Down At CHF 11.1 Mln

StarragTornos AG

08/03/2019 05:59

March 8 (Reuters) - Starrag Group  STGN.S :
    * FY ORDER INTAKE UP 32% TO CHF 461 MILLION
    * FY SALES DOWN 4% TO CHF 389 MILLION (CURRENCY ADJUSTED
DOWN 6%)
    * FY OPERATING RESULT EBIT OF CHF 11.1 MILLION DOWN ON
PREVIOUS
YEAR
    * FY NET INCOME CHF 8.4 MILLION
    * TO PROPOSE DIVIDEND OF 1.00 CHF PER SHARE
    * DANIEL FRUTIG, CHAIRMAN OF THE BOARD OF DIRECTORS, WILL
NOT BE
STANDING FOR RE-ELECTION AT THE NEXT AGM
    * MAJORITY SHAREHOLDER AND VICE-CHAIRMAN WALTER FUST WILL BE
PROPOSED FOR ELECTION AS CHAIRMAN
    * ANTICIPATES A NORMALISATION OF ORDER INTAKE IN 2019
    * EXPECTS THE NORMALIZED ORDER INTAKE FOR 2019 TO BE LOWER
(IN
LOCAL CURRENCY) THAN IN 2018
    * FOR 2019, SALES (IN LOCAL CURRENCY) SHOULD,CONVERSELY,
EXCEED
THE FIGURE FOR THE PREVIOUS YEAR
    * EBIT MARGIN AND RETURN ON CAPITAL EMPLOYED (ROCE) FOR 2019
ARE
EXPECTED TO BE IN LINE WITH THE PREVIOUS YEAR

    
 Source text - https://bit.ly/2HmllkK
    
 Further company coverage:  STGN.S  
   


 (Gdynia Newsroom)
 ((Gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))