Loewe AG: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
Loewe AG to Cut Jobs; Issues FY 2013 Guidance In Line with Analysts' Estimates
Loewe AG announced that the measures were taken to reduce overhead and staff costs across all divisions. In this regard, the Company is engaged in discussions with the works council and the IG Metall labor union. It is planned to conclude the staff reduction in the first quarter of 2013. Moreover, the Company announced that its Executive Board expects an increase in sales for the fiscal year 2013. For the fiscal year 2012 the Company reported revenue of approximately EUR 250 million (on a preliminary basis). According to I/B/E/S Estimates, analysts on average are expecting the Company to report fiscal year 2013 revenue of EUR 270.41 million.
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