March 26, 2020 / 5:25 PM / 3 days ago

BRIEF-Delticom FY Consolidated Net Loss Widens To EUR 40.8 Million

March 26 (Reuters) - DELTICOM AG:

* PUBLISHES ANNUAL REPORT 2019: FINANCIAL, ASSETS AND EARNINGS POSITION AFFECTED BY RESTRUCTURING AND DEINVESTMENTS

* POSITIVE EARNINGS EXPECTED IN 2021

* CONSOLIDATED REVENUE TO SHRINK BY 3.1 PERCENT IN 2019 FROM EUR 645.7 MILLION TO EUR 625.8 MILLION

* GROUP OPERATING EBITDA BEFORE NON-RECURRING EXPENSES TOTALLED EUR 10.0 MILLION IN FISCAL YEAR 2019

* FY CONSOLIDATED NET INCOME TOTALLED EUR -40.8 MILLION (EUR -3.27 PER SHARE) COMPARED TO EUR -1.7 MILLION (EUR -0.13 PER SHARE) IN PREVIOUS YEAR

* FOR 2020, DELTICOM GROUP IS FORECASTING TOTAL ANNUAL REVENUES OF EUR 600 TO 630 MILLION AND EBITDA OF BETWEEN EUR 1.0 AND 5.0 MILLION

* FORECASTING EXTRAORDINARY EXPENSES OF AROUND EUR 4 MILLION FOR RESTRUCTURING AND DISCONTINUATION IN 2020

* 2020 OPERATING EBITDA IN CURRENT YEAR WILL THEREFORE BE IN RANGE OF EUR 5 TO 9 MILLION

* EXTENT TO WHICH CORONA VIRUS WILL AFFECT COURSE OF BUSINESS IN CURRENT YEAR CAN CURRENTLY ONLY BE ESTIMATED WITH CONSIDERABLE UNCERTAINTY

* NOVEL CORONA VIRUS MAY TEMPORARILY LEAD TO INCREASED ONLINE DEMAND

* ON OTHER HAND, OFFICIAL AND PRIVATE RESTRICTIONS WILL AFFECT USE OF VEHICLES AND THUS, EVENTUALLY REPLACEMENT TYRE BUSINESS

* WILL START TO RECORD POSITIVE RESULTS AGAIN IN 2021

* MEDIUM-TERM TARGET IS AN OPERATING EBIT MARGIN OF 2 %.” Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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