Brief: Tornos H1 Net Profit Turns To Loss Of CHF 13.9 Million

Tornos Holding AG

11/08/2020 05:36

Aug 11 (Reuters) - Tornos Holding AG  TOHN.S :
    * GROUP ACHIEVED NET SALES OF CHF 56.2 MILLION IN THE FIRST
HALF
OF 2020 (FIRST HALF OF 2019: CHF 117.2 MILLION, -52.1%)
    * ORDER INTAKE OF CHF 42.8 MILLION (FIRST HALF OF 2019: CHF
76.9
MILLION, -44.3%).
    * OPERATING RESULT (EBIT2) FOR THE FIRST HALF OF 2020
AMOUNTED TO
CHF -13.1 MILLION (FIRST HALF OF 2019: CHF 8.9 MILLION)
    * NET RESULT WAS CHF -13.9 MILLION (FIRST HALF OF 2019: CHF
9.0
MILLION)
    * EXPECTING A SLOW RECOVERY OF THE GLOBAL MARKETS IN 2021.
    * OVERALL TORNOS DOES NOT YET ANTICIPATE ANY FUNDAMENTAL
CHANGES
IN THE SECOND HALF OF 2020
    * ESTIMATES H2 NET SALES ON A PAR WITH THOSE IN THE FIRST
HALF OF
2020
    * H2 EBIT AND THE NET RESULT WILL ALSO BE SIMILARLY NEGATIVE

Source text: https://bit.ly/3isf2ep
Further company coverage:  TOHN.S 

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