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Healthcare

BRIEF-Dormakaba Holding Says Q3 Organic Sales Declined At Group Level Around 3% Due To Weak Business In China

May 8 (Reuters) - Dormakaba Holding AG:

* Q3 ORGANIC SALES DECLINED AT GROUP LEVEL AROUND 3%, MAINLY BECAUSE OF WEAK BUSINESS IN CHINA IN FEBRUARY AND MARCH 2020.

* EBITDA MARGIN IN Q3 OF 2019/20 WAS AROUND 150 BASIS POINTS LOWER THAN YEAR-BACK FIGURE

* WITHDRAWING ITS PREVIOUS GUIDANCE AND WILL NOT BE MAKING ANY MORE FINANCIAL FORECASTS FOR CURRENT 2019/20 FINANCIAL YEAR

* BOARD, EXECUTIVE COMMITTEE AND SENIOR HAVE AGREED TO TAKE A VOLUNTARY AND TEMPORARY 10% CUT IN THEIR MONTHLY BASE SALARY

* IMPACT OF COVID-19 PANDEMIC ON CO’S BUSINESS “CANNOT BE PREDICTED” Source text for Eikon: Further company coverage:

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