Brief: Washtec Adjusts Guidance For 2019

Washtec AG

24/10/2019 15:21

Oct 24 (Reuters) - WASHTEC AG  WSUG.DE :
    * ADJUSTED GUIDANCE FOR 2019 - CONTINUED STABLE REVENUE
PERFORMANCE WITH EBIT MARGIN OF NOW AROUND 9%
    * Q4 IS EXPECTED TO EXCEED PRIOR YEAR'S LEVEL, ALTHOUGH
REVENUE
GROWTH WILL BE LOWER THAN ASSUMED AT HALF-YEAR REPORTING
    * ANNOUNCED COST-REDUCTION MEASURES HAVE STARTED AND ARE
SHOWING
INITIAL EFFECTS
    * AIM IS TO CUT OTHER OPERATING EXPENSES AND TO REDUCE
WASHTEC
GROUP HEADCOUNT TO AROUND 1,820 IN LINE WITH 2017 STRUCTURES
    * THIS WILL CAUSE ADDITIONAL EXPENSES IN FULL YEAR
    * EBIT MARGIN OF AROUND 9 % DOES NOT INCLUDE ANY SUCH
EXTRAORDINARY EXPENSES

Source text for Eikon:  ID:nEQ8XV0Y4a 
Further company coverage:  WSUG.DE 

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