June 9, 2020 / 4:50 AM / 23 days ago

BRIEF-Conzzeta Sees 2020 Operating Profit In Mid-double-digit Million Swiss Francs

June 9 (Reuters) - Conzzeta AG:

* IMPACT OF THE CORONAVIRUS - BUSINESS UPDATE AND OUTLOOK FOR 2020

* ANNOUNCED STRATEGIC TRANSFORMATION OF GROUP CONTINUES LARGELY AS PLANNED

* MEASURES INTRODUCED BY CONZZETA AND ITS THREE BUSINESS UNITS TO CUSHION ECONOMIC IMPACT OF PANDEMIC INCLUDE A COST SAVING PROGRAM WITH A NET BENEFIT TO OPERATING RESULT (EBIT) OF CHF 40 MILLION BY END OF 2020

* DIVESTMENT GAIN COMMUNICATED EARLIER OF AROUND CHF 45 MILLION FROM SALE OF SCHMID RHYNER AS PER END OF FEBRUARY 2020 WILL ONLY PARTLY OFFSET SIGNIFICANT DROP OF OPERATING RESULT IN FIRST HALF OF 2020

* EXPECTS FOR FULL YEAR 2020 TO REPORT A MID-DOUBLE-DIGIT MILLION CHF OPERATING PROFIT (INCL. DIVESTMENT GAIN) WITH SUBSTANTIALLY LOWER NET SALES COMPARED TO PREVIOUS YEAR Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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